Anil Singhvi strategy March 13: Important levels to track in Nifty50, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support emerging at 22,200-22,275 and a strong buy zone at 22,025-22,125 levels for the headline Nifty50 index on Wednesday, March 13. For the Nifty Bank, he expects support to come in at 46,900-47,025 levels and a strong buy zone at 46,575-46,725 levels.

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

• Global: Positive

• FII: Positive

• DII: Positive

• F&O: Neutral

• Sentiment: Neutral

• Trend: Positive

The market wizard expects a higher zone for the headline index at 22,375-22,475 levels and a "blue sky zone" above 22,525. For the banking index, Singhvi expects a higher zone at 47,450-47,575 levels and a profit-booking zone at 47,725-47,900 levels. 

ANIL SINGHVI MARKET STRATEGY 

• FII index longs at 43 per cent vs 41 per cent the previous day
• Nifty put-call ratio (PCR) at 0.95 vs 0.94
• Nifty Bank PCR at 0.71 vs 0.72
• Volatility index India VIX down three per cent at 13.64

Singhvi highlights the emergence of strong buying by FIIs and domestic funds on Dalal Street amid positive signals from global markets but adds that weakness in broader segments is dampening the overall sentiment. 

He suggests trimming positions if the Nifty and the Nifty Bank slide below 22,300 and 47,250 on a closing basis, respectively. On the contrary, he expects buying to gather steam once the indices cross the 22,500 and 48,000 levels on the upside, respectively.

He expects strong support for the gauges at 21,850-22,000 and 45,700-46,000 levels, respectively. 

How to trade midcap and smallcap stocks now

The market guru suggests investors keep a list of good quality midcap and smallcap shares prepared and wait patiently for buying opportunities in the segments towards the end of the month. He believes buying into the segments in March may bear fruit the next month. 

For existing long positions:

• Nifty intraday stop loss at 22,200 and closing stop loss at 22,300

• Nifty Bank intraday stop loss at 46,850 and closing stop loss at 47,200

For existing short positions:

• Nifty intraday and closing stop loss at 22,525

• Nifty Bank intraday stop loss at 47,850 and closing stop loss at 48,000

For new positions in Nifty:

• The best range to buy Nifty is 22,125-22,250 with a stop loss at 22,000 for targets of 22,300, 22,335, 22,360, 22,400, 22,425 and 22,450

• The best range to sell Nifty is 22,375-22,475 with a stop loss at 22,550 for targets of 22,335, 22,300, 22,275, 22,225, 22,200 and 22,125

For new positions in Nifty Bank:

• Aggressive traders can buy Nifty Bank in the 46,900-47,025 range with a strict stop loss at 46,700 for targets of 47,225, 47,275, 47,350, 47,450, 47,525, 47,725 and 47,825

• Aggressive traders can sell Nifty Bank in the 47,725-47,850 range with a strict stop loss at 48,000 for targets of 47,575, 47,450, 47,300, 47,225, 47,125, 47,025 and 46,900

F&O ban update

• New in ban: NALCO, Piramal Enterprises
• Already in ban: AB Fashion, Hindustan Copper, Tata Chemicals, SAIL, Mahanagar Gas, Manappuram Fin, Zee Entertainment Enterprises
• Out of ban: None

Stock of the day

Buy ITC futures 

• Support at Rs 390-395
• Higher levels at Rs 412, Rs 417 and Rs 422
• Large trade possible in block deal window 
• One may buy around block deal price 

JG Chemicals listing at 10 am today; here's what to expect

The market guru, who had suggested subscribing to the issue from a long-term perspective, estimates JG Chemicals shares to enter the listed space around the upper end of its issue price range of Rs 210-221. 

He suggests investors hold the stock with a stop loss at Rs 210. 

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