Anil Singhvi strategy March 3: Key market triggers, important levels to track in Nifty50, Nifty Bank

Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 benchmark at 17,300-17,350 levels on Friday, March 3, and a strong support zone in the 17,175-17,250 band. For the Nifty Bank — whose 12 constituents include HDFC Bank, SBI, Bank of Baroda and Axis Bank, he sees support emerging in the 40,275-40,375 area, and a strong buy zone in the 40,000-40,075 range. 

Here's how Anil Singhvi sums up the market setup on March 3: 

• Global: Positive

• FII: Neutral

• DII: Positive

• F&O: Neutral

• Sentiment: Neutral

• Trend: Negative

For the 50-scrip headline index, he expects a higher zone at 17,400-17,465 levels and a profit-booking zone at 17,500-17,550 levels.​ For the banking index, he sees a higher zone at 40,575-40,775 levels and a profit-booking zone in the 40,875-40,975 band.

• FII index longs at 15 per cent on Friday vs 18 per cent the previous day 
• Nifty put-call ratio (PCR) at 0.91 vs 0.92
• Nifty Bank PCR at 0.76 vs 1.14
• Fear index India VIX down 0.19 per cent at 12.97

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

• Nifty50 intraday and closing stop loss at 17,250

• Nifty Bank intraday and closing stop loss at 40,250

For existing short positions:

• Nifty intraday and closing stop loss at 17,500

• Nifty Bank intraday and closing stop loss at 40,800

For new positions in Nifty:

• Buy Nifty with a stop loss at 17,250 for targets of 17,400, 17,425, 17,450, 17,500, 17,525 and 17,550

• Aggressive traders can sell Nifty in the 17,450-17,550 range with a strict stop loss at 17,625 for targets of 17,400, 17,350, 17,325, 17,300 and 17,250

For new positions in Nifty Bank:

• Buy Bank Nifty with a stop loss at 40,250 for targets of 40,500, 40,575, 40,700, 40,775, 40,875 and 40,975

• Aggressive traders can sell Nifty Bank in the 40,775-40,975 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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