Anil Singhvi strategy April 13: 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 17,700-17,750 levels, and a strong buy zone at 17,550-17,650 levels on Thursday, April 13, a day after Tata Consultancy Services (TCS) kicks off the corporate earnings season. 

For the Nifty Bank — whose 12 constituents include HDFC Bank, SBI, Bank of Baroda and Axis Bank, he sees support emerging at 41,275-41,375 levels and a strong buy zone in the 41,000-41,150 band.

Here's how Anil Singhvi sums up the market setup on April 13: 

• Global: Neutral

• FII: Positive

• DII: Neutral

• F&O: Cautious

• Sentiment: Positive

• Trend: Neutral

For the 50-scrip headline index, he expects a higher zone at 17,850-17,925 levels and a strong sell zone at 17,975-18,025 levels.​ For the banking index, he sees a higher zone at 41,675-41,775 levels and a strong sell area at 41,975-42,075 levels.

• FII index longs at 35 per cent on Thursday vs 28 per cent the previous day
• Nifty put-call ratio (PCR) at 1.27 vs 1.19  
• Nifty Bank PCR at 1.32 vs 1.23 
• Fear index India VIX up 2.5 per cent at 12.27

How Anil Singhvi views the market today

• US stock market sluggish after release of minutes of last FOMC review 
• Weekly expiry today
• High put-call ratio (PCR)
• Weak TCS Q4 results
• Long weekend ahead

#EditorsTake

हमारी महंगाई के आंकड़ों में क्या पॉजिटिव?

IIP ग्रोथ के आंकड़े कैसे हैं?

जानिए अनिल सिंघवी से#InflationData #Inflation @AnilSinghvi_

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The market expert expects the market to find support at lower levels. Official readings on inflation in the US, and inflation and industrial production in India are positive for the markets, Singhvi points out. 

The market is strong from a technical perspective, amid robust buying by foreign institutional investors, he says. 

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

• Nifty 50 intraday stop loss at 17,700 and closing stop loss at 17,600
• Nifty Bank intraday stop loss at 41,250 and closing stop loss at 41,000

For existing short positions:

• Nifty intraday and closing stop loss at 17,850
• Nifty Bank intraday and closing stop loss at 41,750

For new positions in Nifty:

• Buy Nifty in the 17,650-17,750 range with a stop loss at 17,600 for targets of 17,800, 17,825, 17,875, 17,925 and 17,975

• Aggressive traders can buy Nifty with a strict stop loss at 17,700 for targets of 17,850, 17,875, 17,925, 17,975, 18,000 and 18,025

• Sell Nifty in the 17,875-17,975 range with a stop loss at 18,050 for targets of 17,825, 17,750, 17,725, 17,700 and 17,650

For new positions in Nifty Bank:

• Buy Nifty Bank in the 41,000-41,150 range with a stop loss at 40,800 for targets of 41,275, 41,350, 41,400, 41,550 and 41,625

• Aggressive traders can buy Nifty Bank in the 41,275-41,400 range with a strict stop loss at 41,200 for targets of 41,550, 41,625, 41,675, 41,725, 41,775 and 41,975

• Sell Nifty Bank in the 41,775-41,975 range with a stop loss at 42,100 for targets of 41,725, 41,675, 41,625, 41,550, 41,400 and 41,375

F&O ban update

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

TCS Q4 results

• Profit, revenue, margin below expectations
• New orders in line with expectations
• Neutral management commentary
• Brokerages trim EPC estimates by two per cent
• Valuation slightly expensive
• Valuation multiple at 24x FY24 EPS estimate 

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

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