Anil Singhvi strategy March 6: Key market triggers, important levels to track in Nifty50, Nifty Bank as market enters holiday-truncated week
Zee Business Managing Editor Anil Singhvi shares his strategy for the March 6 session as Dalal Street enters a holiday-truncated week on account of Holi the next day. Check out his take on key support and resistance levels for the Nifty and the Nifty Bank, and how he views the market.
Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 benchmark at 17,500-17,550 levels on Monday, March 6 as the market enters a holiday-truncated week on account of Holi the nexy day. He expects a strong buy zone for the 50-scrip headline index in the 17,425-17,465 band.
For the Nifty Bank — whose 12 constituents include HDFC Bank, SBI, Bank of Baroda and Axis Bank, he sees support emerging in the 40,900-41,000 area, and a strong buy zone in the 40,600-40,700 range.
Here's how Anil Singhvi sums up the market setup on March 6:
- Global: Positive
- FII: Positive
- DII: Positive
- F&O: Neutral
- Sentiment: Positive
- Trend: Negative
For the 50-scrip headline index, he expects a higher zone at 17,725-17,775 levels and a profit-booking zone at 17,800-17,875 levels. For the banking index, he sees a higher zone at 41,550-41,675 levels and a profit-booking zone in the 41,800-41,975 band.
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