Anil Singhvi strategy for March 2: Important market triggers, key levels to track in Nifty50, Nifty Bank

Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 benchmark at 17,350-17,400 levels on Thursday, March 2, and a strong buy zone in the 17,250-17,300 band. For the Nifty Bank — whose 12 constituents include HDFC Bank, SBI, Bank of Baroda and Axis Bank, he sees support emerging in the 40,375-40,500 area, and a strong buy zone in the 40,125-40,300 range. 

Here's how Anil Singhvi sums up the market setup on March 2: 

• Global: Neutral

• FII: Neutral

• DII: Positive

• F&O: Neutral

• Sentiment: Neutral

• Trend: Negative

For the 50-scrip headline index, he expects a higher zone at 17,500-17,550 levels and a strong sell zone at 17,600-17,650 levels.​ For the banking index, he sees a higher zone at 40,875-40,975 levels and a profit-booking zone in the 41,125-41,250 band.

• FII index longs at 18 per cent on Thursday vs 15 per cent the previous day 
• Nifty put-call ratio (PCR) at 0.92 vs 0.67
• Nifty Bank PCR at 1.14 vs 0.86
• Fear index India VIX down 7.31 per cent at 13 

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

• Nifty50 intraday stop loss at 17,250 and closing stop loss at 17,300

• Nifty Bank intraday stop loss at 40,300 and closing stop loss at 40,000

For existing short positions:

• Nifty intraday and closing stop loss at 17,625

• Nifty Bank intraday and closing stop loss at 41,000

For new positions in Nifty:

• Buy Nifty in the 17,300-17,400 range with a stop loss at 17,250 for targets of 17,450, 17,465, 17,500, 17,525, 17,550 and 17,600

• Sell Nifty in the 17,500-17,600 range with a stop loss at 17,650 for targets of 17,450, 17,425, 17,400, 17,350, 17,300 and 17,250

For new positions in Nifty Bank:

• Aggressive traders can buy Nifty Bank in the 40,300-40,500 range with a strict stop loss at 40,250 for targets of 40,575, 40,700, 40,875, 40,975 and 41,125

• Aggressive traders can sell Nifty Bank in the 40,875-40,975 range with a strict stop loss at 41,150 for targets of 40,725, 40,600, 40,525, 40,375 and 40,300

No stock in F&O ban

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