Anil Singhvi strategy March 1: Important levels to track in Nifty50, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty50 index emerging at 21,875-21,925 levels followed by stronger support in the 21,800-21,850 zone on Friday, March 1.

For the Nifty Bank, he expects support to come in at 45,850-45,975 followed by stronger support at 45,525-45,675 levels.

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

• Global: Positive

• FII: Neutral

• DII: Neutral

• F&O: Neutral

• Sentiment: Positive

• Trend: Positive

The market wizard expects a higher zone for the 50-scrip index at 22,050-22,125 levels and a profit-booking zone at 22,200-22,250 levels. 

For the banking index, he sees a higher zone emerging at 46,325-46,500 levels and a strong sell zone at 46,575-46,725 levels. 

ANIL SINGHVI MARKET STRATEGY 

The market wizard suggests investors remain positive on largecap stocks, and exercise caution in midcap and smallcap shares.

Singhvi points out that the domestic GDP reading looks strong and and fiscal deficit under control.

Wall Street has staged a recovery, with three back-to-back days of gains in the Dow Jones Industrial Average, he adds. 

• FII index longs at 35 per cent vs 45 per cent the previous day
• Nifty put-call ratio (PCR) at 1.09 vs 0.66
• Nifty Bank PCR at 0.87 vs 0.61
• Volatility index India VIX down 4.5 per cent at 15.57

For existing long positions:

• Nifty intraday stop loss at 21,850 and closing stop loss at 21,800

• Nifty Bank intraday and closing stop loss at 45,950

For existing short positions:

• Nifty intraday stop loss at 22,075 and closing stop loss at 22,225

• Nifty Bank intraday stop loss at 46,350 and closing stop loss at 46,600

For new positions in Nifty:

• The best range to buy Nifty is 21,850-21,925 with a stop loss at 21,775 for targets of 21,975, 22,000, 22,050, 22,075, 22,125 and 22,200

• The best range to sell Nifty is 22,075-22,200 with a stop loss at 22,300 for targets of 22,025, 22,000, 21,950, 21,900, 21,875 and 21,850

For new positions in Nifty Bank:

• Aggressive traders can buy Nifty Bank in the 45,850-45,975 range with a strict stop loss at 45,650 for targets of 46,050, 46,125, 46,225, 46,325, 46,375 and 46,425

• Aggressive traders can sell Nifty Bank in the 46,375-46,575 range with a strict stop loss at 46,750 for targets of 46,225, 46,125, 46,050, 45,975, 45,850 and 45,675

F&O ban update

• Out of ban: Indus Towers, SAIL

• New in ban: None

• Already in ban: None

March F&O series outlook

The market guru expects the new series to be full of wild swings on Dalal Street, The market has finished the March derivatives series higher and lower on five occasions each, he highlights.

While FIIs have entered the month with light positions, with index longs of 35 per cent, and thin rollovers in the Nifty and the Nifty Bank, he says. 

Singhvi also mentions that the market may lean towards positive territory in the March series ahead of the general elections due this year, going by gains of about six per cent and 6.5 per cent in the comparable series in 2014 and 2019 respectively. 

 ये लाइन सबसे काम की है 

'चुनावी साल' है इसलिए 'March' में तेजी का रुझान 

ये March Series अब तक सबसे बड़ी सीरीज बन सकती है 

मार्च में Investors और Positional Traders के लिए स्ट्रैटेजी? 

- https://t.co/nfza62MzxB

#Elections2024 #InvestmentTips pic.twitter.com/5WQcdoqlzz

— CA Anil Singhvi Zee Business (@AnilSinghvi_) March 1, 2024

News-based stocks today

Biocon and Aurobindo Pharma 

• US FDA inspected both companies
• Don’t short at lower levels, try to buy at lower levels
• Aurobindo Pharma (cash) support level at Rs 987
• Biocon support level (cash) at Rs 263

Stocks of the day

Buy Hindalco (cash) with a stop loss at Rs 499 for targets of Rs 508, Rs 516 and Rs 520

• Metal stocks looking strong
• CLSA upgraded to 'buy' from 'reduce', target Rs 635

Buy Pidilite (cash) with a stop loss at Rs 2,650 for targets of Rs 2,775 and Rs 2,805

• Company appoints Sudhanshu Vats as MD and Kavinder Singh as joint MD

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