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

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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. 

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