Anil Singhvi strategy March 26: 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 levels and a strong buy zone at 21,800-21,900 levels for the headline Nifty50 index on Tuesday, March 26, as Dalal Street returns from a long weekend owing to the Holi holiday. For the Nifty Bank, he expects support to come in at 46,575-46,725 levels and a stronger support zone at 46,250-46,425 levels.

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

• Global: Negative

• FII: Positive

• DII: Positive

• F&O: Neutral

• Sentiment: Neutral

• Trend: Positive

He expects a higher zone for the headline index at 22,150-22,200 levels and a profit-booking zone at 22,250-22,350 levels. 

For the banking index, Singhvi expects a higher zone at 46,975-47,175 levels and a profit-booking zone at 47,325-47,525 levels. 

ANIL SINGHVI MARKET STRATEGY  

The market wizard suggests buying at important support levels and booking profits at higher levels after an expected weak start to the day amid negative global signals. 

Singhvi points out decent buying by domestic funds and by foreign institutional investors in the F&O segment though they olloaded shares in the spot market. 

• FII index longs at 35 per cent vs 33 per cent the previous day
• Nifty put-call ratio (PCR) at 1.23 vs 1.17
• Nifty Bank PCR at 1.05 vs 0.92
• Volatility index India VIX down 2.3 per cent at 12.22

For existing long positions:

• Nifty intraday stop loss at 21,975 and closing stop loss at 21,800

• Nifty Bank intraday stop loss at 46,500 and closing stop loss at 46,300

For existing short positions:

• Nifty intraday and closing stop loss at 22,200

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

For new positions in Nifty:

• Buy Nifty in the 21,925-22,025 range with a stop loss at 21,800 for targets of 22,075, 22,100, 22,150, 22,175, 22,200 and 22,250

• Aggressive traders can sell Nifty in the 22,150-22,250 range with a strict stop loss at 22,350 for targets of 22,100, 22,050, 22,025, 22,000, 21,940 and 21,900

For new positions in Nifty Bank:

• Buy Nifty Bank in the 46,250-46,400 range with a stop loss at 46,200 for targets of 46,525, 46,575, 46,675, 46,725, 46,800 and 46,875

• Aggressive traders can buy Nifty Bank in the 46,575-46,725 range with a strict stop loss at 46,500 for targets of 46,800, 46,875, 46,975, 47,025, 47,125 and 47,175

• Aggressive traders can sell Nifty Bank in the 46,975-47,175 range with a strict stop loss at 47,250 for targets of 46,900, 46,800, 46,725, 46,675, 46,575 and 46,400

How to trade midcap and smallcap shares

Singhvi suggests being selective while picking midcap and smallcap stocks with the possibility of the emergence of buying by funds as the market approaches the end of the financial year. 

He suggests buying from a perspective of three months owing to favourable prices in the segments following the recent correction.

The market guru believes investors can use the current juncture as an opportunity to buy ahead of likely increases in the NAVs.

F&O ban update

• New in ban: None
• Out of ban: Balrampur Chini, Indus Towers, PEL
• Already in ban: Biocon, SAIL, Tata Chemicals, Zee Entertainment Enterprises

Stocks of the day

Buy  HDFC Life futures for targets of Rs 634, Rs 644 and Rs 650 with a stop loss at Rs 616

• IRDAI has issued final regulation on surrender value
• The risk on margins from regulatory change is now removed

Buy IndiGo futures for targets of Rs 3330 and Rs 3355 with a stop loss at 3265

• Brokerages upgraded after last week's concall

Buy JSPL futures for targets of Rs 840, Rs 850 and Rs 860 with a stop loss at Rs 824

• Metal stocks taking support at lower levels, buying expected

Buy Dr Lal Pathlabs futures for targets of Rs 2,155 and Rs 2,170 with a stop loss at Rs 2,110

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