Anil Singhvi strategy March 31: Key market triggers, important levels to track in Nifty50, Nifty Bank as D-Street enters April F&O series

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects a strong buy zone for the Nifty50 benchmark at 16,925-17,000 levels on Friday, March 31 — the last day of the financial year and the first trading session of the April derivatives (futures and options) series as the market opens after the Ram Navami holiday.  

For the Nifty Bank — whose 12 constituents include HDFC Bank, SBI, Bank of Baroda and Axis Bank, he sees support emerging at 39,625-39,775 levels, and a strong buy zone in the 39,375-39,500 area.

Here's how Anil Singhvi sums up the market setup on March 31: 

• Global: Positive

• FII: Positive

• DII: Positive

• F&O: Neutral

• Sentiment: Neutral

• Trend: Negative

For the 50-scrip headline index, he expects a higher zone at 17,150-17,200 levels and a strong profit-booking zone at 17,250-17,325 levels.​ For the banking index, he sees a higher zone at 40,075-40,200 levels and a profit-booking zone at 40,350-40,500 levels.

• FII index longs at oversold levels at nine per cent vs 16 per cent the previous day; short covering expected from lower levels
• Nifty put-call ratio (PCR) at 1.05 vs 0.8 
• Nifty Bank PCR at 0.94 vs 0.91
• Fear index India VIX down 10 per cent at 13.63

What Anil Singhvi makes of new F&O series

Anil Singhvi points out strong rollovers in the Nifty Bank, as the market enters the April series. One can expect a breakout each in the Nifty50 and the Nifty Bank once the indices close above 17,200 and 40,000 respectively, he says.

Closing levels below 16,900 and 39,000 will be a sign of weakness, according to Singhvi.

ALSO READ: Nifty sheds 431 pts in March F&O series, Nifty Bank slips 91 pts

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

• Nifty50 intraday and closing stop loss at 16,900

• Nifty Bank intraday and closing stop loss at 39,500

For existing short positions:

• Nifty intraday and closing stop loss at 17,225
• Nifty Bank intraday and closing stop loss at 40,200  

For new positions in Nifty:

• Buy Nifty with a stop loss at 17,000 for targets of 17,150, 17,200, 17,250, 17,275, 17,300 and 17,325

• Aggressive traders can sell Nifty in the 17,200-17,300 range with a strict stop loss at 17,350 for targets of 17,150, 17,100, 17,075, 17,050 and 17,000

For new positions in Nifty Bank:

• Place a stop loss at 39,600 for targets of 40,000, 40,075, 40,200, 40,350 and 40,500

• Sell Nifty Bank in the 40,350-40,500 range with a stop loss at 40,700 for targets of 40,200, 40,075, 40,000, 39,900, 39,775 and 39,700

F&O ban update

• No stock in ban

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