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 shares his strategy for the April 11 session, the second session of yet another holiday-truncated week on account of the Dr Baba Saheb Ambedkar Jayanti holiday on April 14. Check out his take on key support and resistance levels for the Nifty and the Nifty Bank, and how he views the market.
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
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