Anil Singhvi strategy April 11: Key market triggers, important levels to track in Nifty50, Nifty Bank

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 benchmark at 17,550-17,600 levels, and a strong buy zone at 17,425-17,500 levels on Tuesday, April 11, the second session of a holiday-truncated week on account of Dr Baba Saheb Ambedkar Jayanti on April 14. 

For the Nifty Bank — whose 12 constituents include HDFC Bank, SBI, Bank of Baroda and Axis Bank, he sees support emerging at 40,525-40,625 levels and a strong buy zone in the 40,200-40,350 band.

Here's how Anil Singhvi sums up the market setup on April 11: 

• Global: Positive

• FII: Positive

• DII: Neutral

• F&O: Neutral

• Sentiment: Positive

• Trend: Neutral

For the 50-scrip headline index, he expects a higher zone at 17,700-17,750 levels and a strong sell zone at 17,775-17,850 levels.​ For the banking index, he sees a higher zone at 41,000-41,125 levels and a profit-booking zone at 41,275-41,500 levels.

• FII index longs at 22 per cent on Tuesday vs 18 per cent the previous day
• Nifty put-call ratio (PCR) at 1.09 vs 1.1
• Nifty Bank PCR at 0.71 vs 0.85
• Fear index India VIX up four per cent at 12.27

What Anil Singhvi recommends today

Market wizard Anil Singhvi suggests traders to adopt a 'buy on dips' strategy. He sees the broader support range for the Nifty 50 at 17,350-17,425 levels and for the banking index at 40,000-40,200 levels. 

He recommends investing in interest rate-sensitive sectors. His top picks in these spaces include DLF, Godrej Properties, Sobha and auto stocks.

Here's a look at some of the stocks that Anil Singhvi likes:

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

• Nifty intraday and closing stop loss at 17,500

• Nifty Bank intraday and closing stop loss at 40,500

For existing short positions:

• Nifty intraday stop loss at 17,700 and closing stop loss at 17,800

• Nifty Bank intraday and closing stop loss at 41,300

For new positions in Nifty:

• Buy Nifty with a stop loss at 17,500 for targets of 17,650, 17,700, 17,750, 17,775 and 17,800

• Aggressive traders can sell Nifty in the 17,700-17,800 range with a strict stop loss at 17,850 for targets of 17,650, 17,625, 17,600, 17,550 and 17,500

For new positions in Nifty Bank:

• Buy Nifty Bank in the 40,525-40,725 range with a stop loss at 40,450 for targets of 40,800, 40,850, 41,000, 41,075, 41,125 and 41,250

• Aggressive traders can buy Nifty Bank with a strict stop loss at 40,600 for targets of 41,000, 41,075, 41,125, 41,250, 41,325, 41,375 and 41,500

• Aggressive traders can sell Nifty Bank in the 41,275-41,500 range with a strict stop loss at 41,700 for targets of 41,150, 41,075, 41,000, 40,850, 40,800 and 40,725

F&O ban update

• No stock in ban

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