Anil Singhvi strategy March 11: 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 22,400-22,475 levels and a strong buy zone at 22,300-22,375 levels on Monday, March 11. For the Nifty Bank, he expects support to come in at 47,575-47,725 levels and a strong buy zone at 47,400-47,525 levels.

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

• Global: Positive

• FII: Positive

• DII: Positive

• F&O: Neutral

• Sentiment: Positive

• Trend: Positive

The market wizard expects a "blue sky" zone in the Nifty above 22,550.

For the banking index, Singhvi expects a higher zone at 48,075-48,200 levels and a profit-booking zone at 48,300-48,450 levels. 

ANIL SINGHVI MARKET STRATEGY 

• FII index longs at 42 per cent vs 40 per cent the previous day
• Nifty put-call ratio (PCR) at 1.27 vs 1.32
• Nifty Bank PCR at 0.91 vs 1.05
• Volatility index India VIX down 4.75 per cent at 13.61

For existing long positions:

• Nifty intraday and closing stop loss at 22,300

• Nifty Bank Intraday and closing stop loss at 47,450

For existing short positions:

• Nifty Intraday and closing stop loss at 22,550

• Nifty Bank Intraday stop loss at 48,200 and closing stop loss at 48,000

For new positions in Nifty:

• The best range to buy Nifty is 22,375-22,475 with a stop loss at 22,275 for targets of 22,500 and 22,525; one can hold the positions above 22,550 with a trailing stop loss

• Sell Nifty only if it breaks below 22,200

For new positions in Nifty Bank:

• Buy Nifty Bank in the 47,575-47,725 range with a stop loss at 47,400 for targets of 47,850, 47,925, 47,975, 48,075, 48,150, 48,300 and 48,350

• Aggressive traders can sell Nifty Bank in the 48,300-48,450 range with a strict stop loss at 48,650 for targets of 48,175, 48,075, 48,000, 47,925, 47,850 and 47,750

F&O ban update

• New in ban: Tata Chemicals, SAIL
• Already in ban: Mahanagar Gas, Manappuram Finance, Zee Entertainment Enterprises
• Out of ban: None

Stocks of the day

Buy ICICI Pru futures with a stop loss at Rs 576 for targets of Rs 592 and Rs 606

• Impressive growth in new business premium at 32.5 per cent in February

Buy LIC shares with a stop loss at Rs 1,010 for targets of Rs 1,039 and Rs 1,054

• Impressive growth in new business premium at 67 per cent in February

Catch the latest stock market updates here. For all other news related to business, politics, tech and auto, visit Zeebiz.com.