Anil Singhvi strategy March 10: Key market triggers, important levels to track in Nifty50, Nifty Bank

Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 benchmark at 17,425-17,465 levels on Friday, March 10. He expects a strong buy zone for the 50-scrip headline index in the 17,300-17,350 range. 

For the Nifty Bank — whose 12 constituents include HDFC Bank, SBI, Bank of Baroda and Axis Bank, he sees support emerging in the 40,750-40,875 area, and a strong buy zone in the 40,525-40,700 band. 

Here's how Anil Singhvi sums up the market setup on March 10: 

• Global: Negative

• FII: Negative

• DII: Neutral

• F&O: Neutral

• Sentiment: Negative

• Trend: Neutral

For the 50-scrip headline index, he expects a higher zone at 17,575-17,650 levels and a strong sell area at 17,675-17,750 levels.​ For the banking index, he sees a higher zone at 41,250-41,350 levels and a strong sell zone in the 41,500-41,650 band.

• FII index longs at 20 per cent on Friday vs 25 per cent on Thursday 
• Nifty put-call ratio (PCR) at 0.98 vs 1.26
• Nifty Bank PCR at 0.82 vs 1.27
• Fear index India VIX up two per cent at 12.73

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

• Nifty50 intraday and closing stop loss at 17,400
• Nifty Bank intraday stop loss at 41,000 and closing stop loss at 40,700

For existing short positions:

• Nifty intraday and closing stop loss at 17,800
• Nifty Bank intraday and closing stop loss at 41,700

For new positions in Nifty:

• Sell Nifty with a stop loss at 17,650 for targets of 17,525, 17,500, 17,465, 17,425, 17,350, 17,325 and 17,300

• Buy Nifty in the 17,350-17,425 range with a stop loss at 17,250 for targets of 17,465, 17,500, 17,550, 17,575 and 17,600

For new positions in Nifty Bank:

• Sell Nifty Bank with a stop loss at 41,500 for targets of 41,000, 40,900, 40,775, 40,700, 40,600, 40,525 and 40,400

• Buy Nifty Bank in the 40,600-40,700 range with a stop loss at 40,500 for targets of 40,775, 40,875, 41,000, 41,100 and 41,250

F&O ban update

• New in ban: GNFC
• Already in ban: Balrampur Chini
• Out of ban: None

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