Anil Singhvi strategy April 19: Key market triggers, important levels to track in Nifty50, Nifty Bank

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects strong support for the Nifty50 benchmark at 17,500-17,575 levels on Wednesday, April 19. For the Nifty Bank — whose 12 constituents include HDFC Bank, SBI, Bank of Baroda and Axis Bank, he sees support emerging at 41,800-42,000 levels and a strong buy zone in the 41,525-41,725 band.

Here's how Anil Singhvi sums up the market setup on April 19: 

• Global: Negative

• FII: Negative

• DII: Positive

• 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 17,800-17,850 levels.​ For the banking index, he sees a higher zone at 42,500-42,600 levels and a strong sell area at 42,825-42,950 levels.

• FII index longs unchanged at 37 per cent on Wednesday vs previous day
• Nifty put-call ratio (PCR) at 0.82 vs 0.93
• Nifty Bank PCR at 0.97 vs 1.15
• Fear index India VIX down 1.5 per cent at 12.08

ANIL SINGHVI MARKET STRATEGY

The market wizard expects some consolidation in both the domestic as well as global equities. He sees increasing action in the cash segment.

He recommends continuing with a 'buy' on dips' strategy as long as the Nifty and the Nifty Bank keep above the 17,500 and 41,500 levels on a closing basis. 

For existing long positions:

• Nifty intraday and closing stop loss at 17,475
• Nifty Bank intraday stop loss at 41,800 and closing stop loss at 42,000

For existing short positions:

• Nifty intraday and closing stop loss at 17,850
• Nifty Bank intraday and closing stop loss at 42,625

For new positions in Nifty:

• Buy Nifty in the 17,525-17,600 range with a stop loss at 17,475 for targets of 17,650, 17,700, 17,725, 17,750, 17,800 and 17,825

• Sell Nifty in the 17,750-17,825 range with a stop loss at 17,900 for targets of 17,700, 17,650, 17,625, 17,600 and 17,575

For new positions in Nifty Bank:

• Buy Nifty Bank in the 41,800-42,000 range with a stop loss at 41,750 for targets of 42,100, 42,175, 42,275, 42,375, 42,450 and 42,500

• Aggressive traders can buy Nifty Bank with a strict stop loss at 42,000 for targets of 42,375, 42,450, 42,500, 42,600 and 42,725

• Aggressive traders can sell Nifty Bank in the 42,500-42,725 range with a strict stop loss at 42,850 for targets of 42,450, 42,375, 42,275, 42,150, 42,000 and 41,800

F&O ban update

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

ICICI Lombard General Insurance results review

• Strong results on YoY basis, mixed QoQ 
• Higher net premium income, low commission leads to strong results YoY 
• Stock up four per cent in a week, up 13 per cent vs previous quarter

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