Anil Singhvi strategy March 8: Key market triggers, important levels to track in Nifty50, Nifty Bank
Zee Business Managing Editor Anil Singhvi shares his strategy for the March 8 session as Dalal Street resumes trading after the Holi holiday. 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 17,550-17,600 levels on Wednesday, March 8 as investors return to trade after the Holi market holiday. He expects a strong buy zone for the 50-scrip headline index in the 17,425-17,500 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 40,600-40,775 range.
Here's how Anil Singhvi sums up the market setup on March 8:
- Global: Negative
- FII: Positive
- DII: Positive
- F&O: Neutral
- Sentiment: Neutral
- Trend: Negative
For the 50-scrip headline index, he expects a higher zone at 17,675-17,750 levels and a profit-booking zone at 17,775-17,850 levels. For the banking index, he sees a higher zone at 41,250-41,375 levels and a profit-booking zone in the 41,500-41,675 band.
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