Anil Singhvi strategy March 15: Important levels to track in Nifty50, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support emerging at 21,925-22,025 and a strong buy zone at 21,800-21,900 levels for the headline Nifty50 index on Friday, March 15. For the Nifty Bank, he expects support to come in at 46,375-46,575 and a stronger support zone at 46,050-46,175 levels.

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

• Global: Negative

• FII: Neutral

• DII: Neutral

• F&O: Neutral

• Sentiment: Cautious

• Trend: Positive

The market wizard expects a higher zone for the headline index at 22,125-22,200 and a strong sell zone at 22,250-22,350 levels. For the banking index, Singhvi expects a higher zone at 47,025-47,225 and a strong sell zone at 47,325-47,525 levels. 

ANIL SINGHVI MARKET STRATEGY  

The market wizard highlights mild buying by FIIs and DIIs, short covering by traders, and weak global signals. There are light positions in the Nifty50 following the F&O expiry on Thursday, he points out.

Singhvi believes important support for the headline index exists at 21,800-21,950 levels and that it is important for the banking gauge to close above 46,900 on Friday.

He also says that significant support for the Nifty Bank, at end-February lows of 45,700-46,000, is a good distance away. 

• FII index longs at 39 per cent vs 40 per cent the previous day
• Nifty put-call ratio (PCR) at 1.12 vs 0.65
• Nifty Bank PCR at 0.82 vs 0.86
• Volatility index India VIX down 5.5 per cent at 13.62

MFs Stress Test का Stress क्यों नहीं लेना है?

What Is MF Stress Test?

Know The Importance of This Test In Terms Of Mid-Smallcap Funds...

Will it affect MF Investors?#MutualFunds #mutualfund #StockMarket #midcapnifty #SmallCaps https://t.co/AoOwT1Ti7o

— CA Anil Singhvi Zee Business (@AnilSinghvi_) March 15, 2024

For existing long positions:

• Nifty intraday stop loss at 21,900 and closing stop loss at 21,950

• Nifty Bank intraday stop loss at 46,500 and closing stop loss at 46,750

For existing short positions:

• Nifty intraday and closing stop loss at 22,225

• Nifty Bank intraday stop loss at 47,050 and closing stop loss at 47,350

For new positions in Nifty:

• Aggressive traders can buy Nifty in the 21,900-22,000 range with a strict stop loss at 21,800 for targets of 22,075, 22,125, 22,150, 22,200, 22,250 and 22,300

• Aggressive traders can sell Nifty in the 22,200-22,300 range with a strict stop loss at 22,400 for targets of 22,150, 22,075, 22,025, 22,000, 21,925 and 21,900

For new positions in Nifty Bank:

• Aggressive traders can buy Nifty Bank in the 46,375-46,575 range with a strict stop loss at 46,300 for targets of 46,725, 46,775, 46,850, 46,975, 47,125 and 47,225

• Aggressive traders can sell Nifty Bank in the 47,225-47,425 range with a strict stop loss at 47,600 for targets of 47,025, 46,900, 46,800, 46,725, 46,575 and 46,525

How to trade midcap and smallcap stocks

Singhvi expects volatility in the segments to persist in March, and suggests investors wait for significant dips to buy into midcap and smallcap stocks gradually and book profit in cease of a jump of 15-20 per cent.

He advocates buying good quality stocks at attractive valuations. 

F&O ban update

• New in ban: BHEL
• Out of ban: Hindustan Copper
• Already in ban: RBL Bank, NALCO, Piramal Enterprises, AB Fashion, Tata Chemicals, SAIL, Manappuram Finance, Zee Entertainment Enterprises

Stock of the day

Sell HPCL futures with a stop loss at Rs 510 for targets of Rs 483 and Rs 475

• Petrol, diesel prices cut by Rs 2 per litre across the country 
• Don’t short if the stock makes a big gap-down opening
• Buying expected from lower levels if the fall is big

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