Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support emerging at 21,850-21,925 and a strong buy zone at 21,725-21,825 levels for the headline Nifty50 index on Monday, March 18.

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For the Nifty Bank, he expects support to come in at 46,125-46,325 and a strong buy zone at 45,700-46,000 levels.

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

  • Global: Negative
  • FII: Negative
  • DII: Negative
  • F&O: Neutral
  • Sentiment: Cautious
  • Trend: Positive

The market wizard expects a higher zone for the headline index at 22,125-22,200 levels and a strong sell zone at 22,250-22,350 levels. 

For the banking index, Singhvi expects a higher zone at 46,800-46,975 and a profit-booking zone at 47,200-47,325 levels. 

ANIL SINGHVI MARKET STRATEGY  

Singhvi believes that important support for the headline index exists in the 21,800-21,950 band amid weak global signals, and selling by FIIs and DIIs. For the banking index, he sees essential support near the February-end lows of 45,700-46,000 levels. 

In case of a recovery, he expects a higher level for the Nifty50 in the 22,250-22,350 range. 

  • FII index longs at 38 per cent vs 39 per cent the previous day
  • Nifty put-call ratio (PCR) at 0.99 vs 1.12
  • Nifty Bank PCR at 0.76 vs 0.82
  • Volatility index India VIX up 0.5 per cent at 13.69

For existing long positions:

  • Nifty intraday stop loss at 21,800 and closing stop loss at 21,950
  • Nifty Bank intraday and closing stop loss at 46,300

For existing short positions:

  • Nifty intraday and closing stop loss at 22,225
  • Nifty Bank intraday and closing stop loss at 47,050

For new positions in Nifty:

  • Aggressive traders can buy Nifty in the 21,800-21,925 range with a strict stop loss at 21,700 for targets of 21,975, 22,000, 22,050, 22,125, 22,150 and 22,200
  • Aggressive traders can sell Nifty in the 22,125-22,200 range with a strict stop loss at 22,300 for targets of 22,075, 22,025, 22,000, 21,925, 21,900 and 21,850

For new positions in Nifty Bank:

  • Buy Nifty Bank in the 45,700-46,000 range with a stop loss at 45,600 for targets of 46,125, 46,225, 46,300, 46,425, 46,500 and 46,575
  • Aggressive traders can buy Nifty Bank in the 46,125-46,325 range with a strict stop loss at 45,950 for targets of 46,500, 46,575, 46,725, 46,800, 46,875 and 46,975
  • Aggressive traders can sell Nifty Bank in the 46,975-47,225 range with a strict stop loss at 47,450 for targets of 46,875, 46,800, 46,725, 46,575, 46,500 and 46,325

F&O ban update

  • New in ban: Biocon, Hindustan Copper
  • Already in ban: BHEL, RBL Bank, NALCO, Piramal Enterprises, AB Fashion, Tata Chemicals, SAIL, Manappuram Finance, Zee Entertainment Enterprises
  • Out of ban: None

How to trade midcap, smallcap shares now

Singhvi suggests investors start picking positions in quality smallcap and midcap stocks with lower valuations slowly on dips from this week, as he expects see-saw moves to continue in the segment for the rest of the month. 

Investors may book profits in case of upmoves to the tune of 15-20 per cent, but must avoid panicking in bouts of weakness, he says. 

Stock of the day

Buy Balrampur Chini futures with a stop loss at Rs 351 for targets of Rs 368, Rs 374 and Rs 378

  • The company has entered an agreement for manufacturing bioplastics with three multinational companies
  • Petroleum minister has launched 103 pumps with 93 per cent ethanol blending

Buy Amber Enterprises shares with a stop loss at Rs 3,300 for targets of Rs 3,425, Rs 3,475 and Rs 3,535

  • Stock trading at attractive levels after connecting
  • Jeffries puts long-term 'buy' on the stock with a target of Rs 9,740 for five years 

Wealth creation pick

Buy Zomato with shares for targets of Rs 250, Rs 300 and Rs 400

Here is why market guru Anil Singhvi is bullish on Zomato:

  • Now a profitable company
  • Profit expected to reach Rs 1,000 crore going forward
  • Blinkit expected to turn EBITDA positive soon
  • Blinkit valuation to exceed Zomato's in 10 years
  • Blinkit adjusted EBITDA to break even in Q1 FY25 
  • Jefferies March 2029 target at Rs 400 per share 

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