Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty50 index emerging at 22,250-22,300 levels and a buy zone at 22,125-22,225 levels on Saturday, March 2, the day stock exchanges BSE and NSE will conduct a special, two-hour-long trading session to test the disaster recovery site.

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For the Nifty Bank, he expects support to come in at 47,025-47,125 followed by stronger support at 46,725-46,900 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" for the 50-scrip index above 22,400. For the banking index, he sees a higher zone emerging at 47,500-47,650 levels and a profit-booking zone at 47,725-47,875 levels. 

ANIL SINGHVI MARKET STRATEGY 

The market guru points out that Dalal Street is set for strong moves for a second straight day amid strong global signals, with the Nasdaq Composite scaling a record peak after a gap of 27 months, and strong domestic signals such as robust GST collections. Significant FII and DII inflows are also expected to give a boost to the market, he says. 

Singhvi suggests investors rather focus on largecap stocks though midcap and smallcap scrips will also attract buying interest. 

  • FII index longs unchanged at 35 per cent as the previous day
  • Nifty put-call ratio (PCR) at 1.29 vs 1.09
  • Nifty Bank PCR at 1.31 vs 0.87
  • Volatility index India VIX down two per cent at 15.24

For existing long positions:

  • Nifty intraday and closing stop loss at 22,200
  • Nifty Bank intraday and closing stop loss at 46,900

For existing short positions:

  • Nifty Intraday and closing stop loss at 22,400
  • Nifty Bank Intraday and closing stop loss at 47,500

For new positions in Nifty:

  • The best range to buy Nifty is 22,200-22,300 with a stop loss at 22,100 for a target of 22,350; above 22,400, investors can hold their long positions with a trailing stop loss
  • Next target near 22,500
  • Sell Nifty only if it breaks 22,000

For new positions in Nifty Bank:

  • The best range to buy Nifty Bank is 46,900-47,050 with a stop loss at 46,800 for targets of 47,125, 47,275, 47,350, 47,400, 47,450 and 47,500
  • Aggressive traders buy Nifty Bank with a strict stop loss at 47,000 for targets of 47,400, 47,500, 47,650, 47,725, 47,825 and 47,875
  • Aggressive traders can sell Nifty Bank in the 47,725-47,875 range with a strict stop loss at 48,000 for targets of 47,650, 47,525, 47,450, 47,375 and 47,300

F&O ban update

  • New in ban: Zee Entertainment Enterprises
  • Out of ban: None
  • Already in ban: None

Interesting trend of buying on Dalal Street

Singhvi points out that the market has quite interestingly recovered in one fourth of the time it took to fall.

At the current juncture, the first bout of weakness in sentiment and positions leads to sharp upmoves on Dalal Street whereas small consolidations are followed by big trends, he adds.

Stocks of the day

Buy Hero Moto futures with a stop loss at Rs 4,460 for targets of Rs 4,595 and Rs 4,640

  • Strong monthly sales number

Buy Aurobindo Pharma futures with a stop loss at Rs 1,013 for targets of Rs 1,044 and Rs 1,055

  • The company got USFDA approval for generic drug
  • This drug will be launched this month
  • The US market for the drug is Rs 3,700 crore 

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