Anil Singhvi strategy March 20: Key share market triggers, important levels to watch in Nifty50, Nifty Bank

Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 benchmark at 16,975-17,050 levels on Monday, March 20. He sees a strong buy zone coming in at 16,850-16,950 levels. For the Nifty Bank — whose 12 constituents include HDFC Bank, SBI, Bank of Baroda and Axis Bank, he sees support emerging at 39,375-39,450 levels, and a strong buy zone in the 38,950-39,150 area.

Here's how Anil Singhvi sums up the market setup on March 20:

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

For the 50-scrip headline index, he expects a higher zone at 17,150-17,225 levels and a strong sell zone at 17,250-17,350 levels.​ For the banking index, he sees a higher zone at 39,375-39,450 levels and a strong sell zone in the 38,950-39,150 band.

• FII index longs at oversold levels at 10 per cent on Monday versus 11 per cent on Friday
• Nifty put-call ratio (PCR) unchanged at 0.88
• Bank Nifty PCR at 0.83 Vs 0.72
• India VIX down by 9 per cent at 14.77

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

• Nifty50 intraday and closing stop loss at 16,950
• Nifty Bank intraday and closing stop loss at 38,900

For existing short positions:

• Nifty intraday and closing stop loss at 17,250
• Nifty Bank intraday and closing stop loss at 40,000

For new positions in Nifty:

• Buy Nifty in the 16,950-17,050 range with a stop loss at 16,850 for targets of 17,100, 17,150, 17,200, 17,225, 17,250 and 17,325
• Aggressive traders can sell Nifty in 17150-17250 range with a strict stop loss at 17,350 for targets of 17,100, 17,050, 17,000, 16,975, 16,950, 16,925 and 16,850

For new positions in Nifty Bank:

• Buy Nifty Bank in the 39,050-39,150 range with a stop loss at 38900 for targets of 39,375, 39,450, 39,575, 39,700 and 39750
• Aggressive traders can buy Nifty Bank in the 39,375-39,450 range with a strict stop loss at 39,300 for targets of 39,575, 39,700, 39,900, 40,000, 40,100, 40,250, 40,350 and 40,500
• Sell Nifty Bank in the 40,350-40,500 range with a stop loss at 40,700 for targets 40250, 40100, 40,000, 39,925, 39,750 and 39,700
• Aggressive traders can sell Nifty Bank in the 39,750-39,900 range with a strict stop loss at 40,000 for targets of 39,575, 39,450, 39,375, 39,150, 39,050 and 38,950

F&O ban update

• Already in ban: IB Housing Fin, GNFC
• New in ban: None
• Out of ban: None

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