Anil Singhvi strategy April 12: Important levels to track in Nifty50, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support emerging at 22,600-22,675 levels and a strong buy zone at 22,450-22,550 levels for the headline Nifty50 index on Friday, April 12.

For the Nifty Bank, he expects support to come in at 48,575-48,725 levels and a strong buy zone at 48,425-48,500 levels.

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

• Global: Negative

• FII: Positive

• DII: Neutral

• F&O: Neutral

• Sentiment: Positive

• Trend: Positive

He expects a higher level for the headline index at 22,750-22,800 levels and a "blue-sky zone" above 22,825. 

For the banking index, Singhvi expects a higher zone at 48,950-49,050 levels and a blue-sky zone above 49,100. 

ANIL SINGHVI MARKET STRATEGY  

• FII index longs at 59 per cent vs 51 per cent the previous day

• Nifty put-call ratio (PCR) at 1.32 vs 1.09

• Nifty Bank PCR at 1.07 vs 1.15

• Volatility index India VIX down 2.2 per cent at 11.11

For existing long positions:

• Nifty intraday stop loss at 22,600 and closing stop loss at 22,500

• Nifty Bank intraday and closing stop loss at 48,400

For existing short positions:

• Nifty intraday stop loss at 22,825 and closing stop loss at 22,775
• Nifty Bank intraday stop loss at 49,100 and closing stop loss at 49,000

For new positions in Nifty:

• The best range to buy Nifty is 22,550-22,650 with a stop loss at 22,425 for targets of 22,675, 22,750, 22,775 and 22,800; above 22, 825, the Nifty will be in a blue-sky zone where one may hold their long positions with a trailing stop loss

• Aggressive traders sell Nifty with a strict stop loss at 22,825 for targets of 22,675, 22,650, 22,600, 22,550 and 22,515

For new positions in Nifty Bank:

• The best range to buy Nifty Bank is 48,425-48,575 with a stop loss at 48,350 for targets of 48,625, 48,675, 48,725, 48,975 and 49,050

• Aggressive traders can sell Nifty Bank with a strict stop loss at 49,100 for targets of 48,725, 48,675, 48,575, 48,500 and 48,425

F&O ban update

• Already in ban: Exide Industries, Hindustan Copper, Vodafone Idea, India Cement, SAIL, ZEEL

• New in ban: Balrampur Chini, NALCO

• Out of ban: Bandhan Bank

Stocks of the day

Buy Metropolis futures with a stop loss at Rs 1,760 for targets of  Rs 1,810, Rs 1,830 and Rs 1,855

• Strong quarterly update
• Company becomes debt-free

Sell Laurus Labs futures with a stop loss at Rs 470 for targets of Rs 440 and Rs 430

• Goldman Sachs initiates coverage with 'sell', target of Rs 350

Buy Neuland Labs shares in the cash segment with a stop loss at Rs 6,150 for targets of Rs 6,350, Rs 6,425 and Rs 6,500

• Goldman Sachs initiates coverage with 'buy', target of Rs 9,100

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