Anil Singhvi strategy April 12: 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 17,600-17,650 levels, and a strong buy zone at 17,500-17,550 levels on Wednesday, April 12, the day Tata Consultancy Services (TCS) kicks off the corporate earnings season by reporting its financial results post-market hours. 

For the Nifty Bank — whose 12 constituents include HDFC Bank, SBI, Bank of Baroda and Axis Bank, he sees support emerging at 41,000-41,150 levels and a strong buy zone in the 40,725-40,850 band.

Here's how Anil Singhvi sums up the market setup on April 12: 

• 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 17,750-17,800 levels and a strong sell zone at 17,850-17,925 levels.​ For the banking index, he sees a higher zone at 41,500-41,625 levels and a strong sell area at 41,675-41,775 levels.

• FII index longs at 28 per cent on Wednesday vs 22 per cent the previous day
• Nifty put-call ratio (PCR) at 1.19 vs 1.09 
• Nifty Bank PCR at 1.23 vs 0.71
• Fear index India VIX down 2.5 per cent at 11.98 

What Anil Singhvi recommends today

Market wizard Anil Singhvi believes levels of 17,800 and 41,700-42,000 favourable for profit taking in the Nifty50 and the Nifty Bank respectively. Traders should wait for some decline in the market for fresh buying, he says.

"Otherwise, buy after the Nifty and the Nifty Bank close above 17,800 and 41,750 respectively... US and Indian inflation numbers will be important to watch to decide future course," he adds.

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

• Nifty Intraday SL 17600 n Closing SL 17550
  Bank Nifty Intraday SL 41000 n Closing SL 40800

For existing short positions:

• Nifty Intraday n Closing SL 17825
  Bank Nifty Intraday n Closing SL 41500

For new positions in Nifty:

• Buy Nifty in 17600-17650 range:
  SL 17500 Tgt 17700, 17725, 17750, 17800

  Aggressive Traders Sell Nifty in 17800-17850 range:
  Strict SL 17925 Tgt 17750, 17725, 17700, 17650, 17625, 17600, 17550

For new positions in Nifty Bank:

• Buy Bank Nifty in 41000-41150 range:
  SL 40700 Tgt 41250, 41375, 41500, 41575, 41625, 41675

  Aggressive Traders Sell Bank Nifty in 41575-41725 range:
  Strict SL 42000 Tgt 41500, 41400, 41275, 41150, 41075, 41000

F&O ban update

• New in ban: Delta Corp
• Already in ban: None
• Out of ban: None

The Indian financial markets will remain shut on April 14 for Dr Baba Saheb Ambedkar Jayanti. 

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