Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support emerging at 22,325-22,425 levels and a strong buy zone at 22,175-22,250 levels for the headline Nifty50 index on Tuesday, April 2.

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For the Nifty Bank, he expects support to come in at 47,125-47,375 levels and a strong buy zone at 46,900-47,025 levels.

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

  • Global: Negative
  • FII: Positive
  • DII: Positive
  • F&O: Neutral
  • Sentiment: Positive
  • Trend: Positive

He expects a higher zone for the headline index at 22,500-22,525 levels and a "blue sky zone" above 22,550. 

For the banking index, Singhvi expects a higher zone at 47,725-47,875 levels and a strong sell zone at 47,950-48,075 levels. 

ANIL SINGHVI MARKET STRATEGY  

  • FIIs index longs unchanged at 45 per cent vs the previous day
  • Nifty put-call ratio (PCR) at 1.07 Vs 1.18
  • Nifty Bank PCR at 1.07 vs 0.98
  • Volatility index India VIX down 5.8 per cent at 12.08

For existing long positions:

  • Nifty intraday and closing stop loss at 22,300
  • Nifty Bank intraday stop loss at 47,300 and closing stop loss at 47,000

For existing short positions:

  • Nifty intraday and closing stop loss at 22,550
  • Nifty Bank intraday and closing stop loss at 47,750

For new positions in Nifty:

  • The best range to buy Nifty is 22,325-22,425 with a strict stop loss at 22,300 for targets of 22,460, 22,500 and 22,525; one may hold long positions above 22,550 with a trailing stop loss
  • Aggressive traders can sell Nifty with a strict stop loss at 22,550 for targets of 22,425, 22,350, 22,325, 22,250, 22,200 and 22,175

For new positions in Nifty Bank:

  • The best range to buy Nifty Bank is 46,900-47,025 with a strict stop loss at 46,775 for targets of 47,125, 47,200, 47,325, 47,375 and 47,425
  • Aggressive traders can buy Nifty Bank in the 47,125-47,375 range with a strict stop loss at 46,950 for targets of 47,425, 47,575, 47,650, 47,725, 47,825 and 47,950
  • Aggressive traders can sell Nifty Bank in the 47,825-47,950 range with a strict stop loss at 48,100 for targets of 47,725, 47,650, 47,575, 47,500, 47,375 and 47,125

F&O ban update

  • Out of ban: Zee Entertainment Enterprises
  • Already in ban: None
  • New in ban: None

Stock of the day

Buy AB Fashion futures with a stop loss at Rs 208 for targets of Rs 218, Rs 222 and Rs 225

  • Company to demerge Madura Fashion & Lifestyle business
  • Focus on high growth segments post-demerger 

Buy AB Capital futures with a stop loss at Rs 178 for targets of Rs 188 and Rs 190

  • Macquarie has initiated coverage with a target of Rs 230
  • Company ready to show strong growth in earnings and loans

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