Anil Singhvi strategy for March 1: Key market triggers, levels to track in Nifty50, Nifty Bank today

Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 benchmark at 17,175-17,250 levels on Wednesday, March 1, and a strong buy zone in the 17,050-17,125 band. For the Nifty Bank — whose 12 constituents include HDFC Bank, SBI, Bank of Baroda and Axis Bank, he sees support emerging in the 39,900-40,075 area, and a strong buy zone in the 39,600-39,750 range. 

Here's how Anil Singhvi sums up the market setup on March 1: 

• Global: Negative

• FII: Negative

• DII: Positive

• F&O: Neutral

• Sentiment: Negative

• Trend: Negative

For the 50-scrip headline index, he expects a higher zone at 17,350-17,400 levels and a strong sell zone at 17,425-17,500 levels.​ For the banking index, he sees a higher zone at 40,375-40,500 levels and a strong sell zone in the 40,575-40,700 band.

• FII index longs at 15 per cent on Wednesday vs 17 per cent the previous day 
• Nifty put-call ratio (PCR) at 0.67 vs 0.72
• Nifty Bank PCR at 0.86 vs 1.04
• Fear index India VIX up one per cent at 14.02

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

• Nifty50 intraday and closing stop loss at 17,200

• Nifty Bank intraday and closing stop loss at 39,900

For existing short positions:

• Nifty intraday and closing stop loss at 17,500

• Nifty Bank intraday stop loss at 40,550 and closing stop loss at 40,700

For new positions in Nifty:

• Sell Nifty in the 17,400-17,475 range with a stop loss at 17550 for targets of 17,350, 17,300 and 17,250

• Aggressive traders can sell Nifty with a strict stop loss at 17,475 for targets of 17,250, 17,175, 17,125, 17,100 and 17,050

• Aggressive traders can buy Nifty in the 17,100-17,175 range with a strict stop loss at 17,000 for targets of 17,250, 17,300, 17,350, 17,400, 17,425 and 17,450

For new positions in Nifty Bank:

• Sell Nifty Bank in the 40,500-40,700 range with a stop loss at 40,800 for targets of 40,375, 40,300, 40,125, 40,075 and 40,000

• Aggressive traders can sell Nifty Bank with a strict stop loss at 40,550 for targets of 40,125, 40,075, 40,000, 39,900, 39,825, 39,750 and 39,600

• Aggressive traders can buy Nifty Bank in the 39,825-40,000 range with a strict stop loss at 39,750 for targets of 40,075, 40,125, 40,275, 40,375 and 40,500

No stock in F&O ban

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