Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 benchmark at 17,500-17,550 levels, and a strong buy zone at 17,375-17,425 levels on Monday, April 10, as the market enters a holiday-truncated week on account of Dr Baba Saheb Ambedkar Jayanti on April 14. 

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For the Nifty Bank — whose 12 constituents include HDFC Bank, SBI, Bank of Baroda and Axis Bank, he sees support emerging at 40,700-40,825 levels and a strong buy zone in the 40,525-40,625 band.

Here's how Anil Singhvi sums up the market setup on April 10: 

  • Global: Positive
  • FII: Positive
  • DII: Negative
  • F&O: Neutral
  • Sentiment: Positive
  • Trend: Neutral

For the 50-scrip headline index, he expects a higher zone at 17,650-17,700 levels and a strong sell zone at 17,750-17,800 levels.​ For the banking index, he sees a higher zone at 41,250-41,375 levels and a strong sell zone at 41,500-41,625 levels.

  • FII index longs at 18 per cent on Monday vs 17 per cent on Friday
  • Nifty put-call ratio (PCR) at 1.1 vs 1.39
  • Nifty Bank PCR at 0.85 vs 1.17
  • Fear index India VIX down five per cent at 11.8

What Anil Singhvi recommends today

Anil Singhvi believes one should adopt a 'buy on dips' strategy with support for the Nifty50 in the range of 17,200-17,300 and for the Nifty Bank at 40,000-40,200 levels. A pause in benchmark interest rates is important for the market, he says. 

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