Anil Singhvi strategy March 16: Key share market triggers, important levels to watch in Nifty50, Nifty Bank
Zee Business Managing Editor Anil Singhvi shares his strategy for the March 16 session. Check out his take on key support and resistance levels for the Nifty and the Nifty Bank, and how he views the market.
Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 benchmark at 16,825-16,925 levels on Thursday, March 16. He sees a strong buy zone coming in at 16,650-16,775 levels. For the Nifty Bank — whose 12 constituents include HDFC Bank, SBI, Bank of Baroda and Axis Bank, he sees support emerging at 38,725-38,950 and 38,450-38,625 levels, and stronger support in the 38,200-38,375 area.
Here's how Anil Singhvi sums up the market setup on March 16:
- Global: Neutral
- FII: Negative
- DII: Positive
- F&O: Neutral
- Sentiment: Cautious
- Trend: Negative
For the 50-scrip headline index, he expects a higher zone at 17,050-17,100 and 17,150-17,225 levels and a strong sell zone at 17,325-17,425 levels. For the banking index, he sees a higher zone at 39,400-39,550 levels, and a strong sell zone in the 39,750-39,900 band.
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