Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support emerging at 22,350-22,450 levels and a strong buy zone at 22,200-22,325 levels for the headline Nifty50 index on Friday, April 5, the day the RBI's MPC is set to announce the outcome of its first bi-monthly review of the new financial year.

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For the Nifty Bank, he expects support to come in at 47,575-47,725 levels and a strong buy zone at 47,250-47,425 levels.

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

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

He expects a higher zone for the headline index at 22,550-22,625 levels and a "blue sky zone" above 22,650. 

For the banking index, Singhvi expects a higher zone at 48,250-48,350 levels and a strong sell zone at 48,450-48,625 levels. 

ANIL SINGHVI MARKET STRATEGY  

  • FII index longs at 43 per cent vs 44 per cent the previous day
  • Nifty put-call ratio (PCR) at 1.17 vs 0.95
  • Nifty Bank PCR at 1.05 vs 1.04
  • Volatility index India VIX down 1.5 per cent at 11.22

For existing long positions:

  • Nifty intraday and closing stop loss at 22,300
  • Nifty Bank intraday stop loss at 47,700 and closing stop loss at 47,500

For existing short positions:

  • Nifty intraday and closing stop loss at 22,650
  • Nifty Bank intraday and closing stop loss at 48,300

For new positions in Nifty:

  • The best range to buy Nifty is 22,300-22,400 with a strict stop loss at 22,250 for targets of 22,450, 22,500, 22,525 and 22,600
  • Aggressive traders can sell Nifty with a strict stop loss at 22,650 for targets of 22,450, 22,425, 22,350, 22,325 and 22,300

For new positions in Nifty Bank:

  • Buy Nifty Bank in the 47,250-47,425 range with a stop loss at 47,100 for targets of 47,550, 47,625, 47,675, 47,725 and 47,825
  • Aggressive traders can buy Nifty Bank in the 47,575-47,725 range with a strict stop loss at 47,500 for targets of 47,875, 47,975, 48,075, 48,150, 48,250 and 48,350
  • Aggressive traders can sell Nifty Bank in the 48,250-48,450 range with a strict stop loss at 48,650 for targets of 48,075, 48,000, 47,900, 47,825 and 47,725

F&O ban update

  • Already in ban: Hindustan Copper, SAIL, Zee Entertainment Enterprises
  • New in ban: None
  • Out of ban: None

Stocks of the day

Buy HDFC Bank futures with a stop loss at Rs 1,511 for targets of Rs 1,548 and Rs 1,560

  • Strong quarterly update 
  • Despite Thursday’s big move, stock ready to rise more

Buy Bandhan Bank futures with a stop loss at Rs 196 for targets of Rs 208, Rs 210 and Rs 213

  • Strong quarterly update
  • Strong 25 per cent deposit growth

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