Anil Singhvi strategy March 27: Important levels to track in Nifty50, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support emerging at 21,875-21,950 levels and a strong buy zone at 21,725-21,825 levels for the headline Nifty50 index on Wednesday, March 27, the second day of a three-session trading week owing to Holi and Good Friday holidays.

For the Nifty Bank, he expects support to come in at 46,250-46,400 levels and a strong buy zone at 45,825-46,025 levels.

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

• Global: Neutral

• FII: Neutral

• DII: Positive

• F&O: Neutral

• Sentiment: Neutral

• Trend: Positive

He expects a higher zone for the headline index at 22,075-22,125 levels and a profit-booking zone at 22,150-22,250 levels. 

For the banking index, Singhvi expects a higher zone at 46,775-46,875 levels and a profit-booking zone at 46,975-47,175 levels. 

ANIL SINGHVI MARKET STRATEGY  

• FII index longs at 33 per cent vs 35 per cent the previous day
• Nifty put-call ratio (PCR) at 1.10 vs 1.23
• Nifty Bank PCR at 0.85 vs 1.05
• Volatility index India VIX up five per cent at 12.82

The market wizard suggests buying at important support levels, especially in case of a weak start to the day, and booking profit at higher levels. He points out mixed signals from global markets and good buying by domestic funds, and expects strong buying interest in midcap and smallcap segments. 

For existing long positions:

• Nifty intraday and closing stop loss at 21,800
• Nifty Bank intraday stop loss at 46,400 and closing stop loss at 46,300

For existing short positions:

• Nifty intraday and closing stop loss at 22,100
• Nifty Bank intraday and closing stop loss at 47,050

For new positions in Nifty:

• Buy Nifty in the 21,850-21,950 range with a stop loss at 21,700 for targets of 22,000, 22,025, 22,075, 22,100, 22,125 and 22,175
• Aggressive traders can sell Nifty in the 22,075-22,175 range with a strict stop loss at 22,250 for targets of 22,025, 22,000, 21,950, 21,900, 21,850 and 21,825

For new positions in Nifty Bank:

• Buy Nifty Bank in the 45,825-46,025 range with a stop loss at 45,650 for targets of 46,250, 46,300, 46,375, 46,500, 46,575 and 46,650
• Aggressive traders can buy Nifty Bank in the 46,250-46,400 range with a strict stop loss at 46,200 for targets of 46,525, 46,575, 46,675, 46,725, 46,775 and 46,875
• Aggressive traders can sell Nifty Bank in the 46,775-46,975 range with a strict stop loss at 47,050 for targets of 46,650, 46,600, 46,525, 46,400, 46,325 and 46,250

How to trade midcap and smallcap stocks

Singhvi suggests being selective in the midcap and smallcap segments, with expectations of financial year-end buying by funds and ample investment opportunities ahead of possible increases in NAVs. 

Many quality stocks in the segments are available at attractive prices, and investors may look at picking from a two-month perspective, he says. 

What to do amidst big block deals?

The market guru sees the likely block deal in CDSL as a buying opportunity for investors.

He maintains a bullish stance on market infrastructure-related stocks. 

F&O ban update

• Out of ban: Biocon, Tata Chemicals, Zee Entertainment Enterprises

• Already in ban: SAIL

• New in ban: None

Stocks of the day

Buy ABB futures with a stop loss at Rs 5,880 for targets of Rs 5,980, Rs 6,010 and Rs 6,045

• Stock in a strong bull run
• UBS has raised its target for the stock to Rs 7,550 from Rs 5,380

Buy Reliance futures with a stop loss at Rs 2,865 for targets of Rs 2,910, Rs 2,920 and Rs 2,940

• Goldman Sachs has raised its target to Rs 3,400 from Rs 2,925

Buy Wockhardt shares with a stop loss at Rs 515 for targets of Rs 540 and Rs 550

• The company has raised funds via a QIP at Rs 517 per share
• Buy at dips for investment 

Wealth Creation Pick: GMR Airports Infra

The market guru points out that GMR Airports Infra has a portfolio full of world class assets in the domestic as well as foreign markets. He suggests buying GMR Airports Infra shares for targets of Rs 100, Rs 125 and Rs 150 from a perspective of 1-3 years. 

He has identified the following positives about the company: 

• Record traffic at Delhi and Hyderabad airports; expansion plans expected to be completed in FY24 itself
• Mopa Airport in Goa expected to be completed in FY25 
• Bhogapuram Airport in Vizag have finance approvals in place
• Company focused on reducing debt
• Capex light opportunities in domestic and foreign markets; opportunities in India as well as South Asia, South East Asia and the Middle East 
• Delhi Airport to turn profitable from FY25;  FY24 revenue estimated at Rs 8500 crore, margin at 32 per cent

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