Anil Singhvi strategy April 11: Key market triggers, important levels to track in Nifty50, Nifty Bank

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi shares his strategy for the April 11 session, the second session of yet another holiday-truncated week on account of the Dr Baba Saheb Ambedkar Jayanti holiday on April 14. Check out his take on key support and resistance levels for the Nifty and the Nifty Bank, and how he views the market.

Zee Business Managing Editor Anil Singhvi sees support for Nifty50 coming in at 17,550-17,600 levels on April 11.

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 benchmark at 17,550-17,600 levels, and a strong buy zone at 17,425-17,500 levels on Tuesday, April 11, the second session of a holiday-truncated week on account of Dr Baba Saheb Ambedkar Jayanti on April 14.

For the Nifty Bank — whose 12 constituents include HDFC Bank, SBI, Bank of Baroda and Axis Bank, he sees support emerging at 40,525-40,625 levels and a strong buy zone in the 40,200-40,350 band.

Here's how Anil Singhvi sums up the market setup on April 11:

Global: Positive

TRENDING NOW
FII: Positive
DII: Neutral
F&O: Neutral
Sentiment: Positive
Trend: Neutral

For the 50-scrip headline index, he expects a higher zone at 17,700-17,750 levels and a strong sell zone at 17,775-17,850 levels. For the banking index, he sees a higher zone at 41,000-41,125 levels and a profit-booking zone at 41,275-41,500 levels.

FII index longs at 22 per cent on Tuesday vs 18 per cent the previous day
Nifty put-call ratio (PCR) at 1.09 vs 1.1
Nifty Bank PCR at 0.71 vs 0.85
Fear index India VIX up four per cent at 12.27

What Anil Singhvi recommends today

Market wizard Anil Singhvi suggests traders to adopt a 'buy on dips' strategy. He sees the broader support range for the Nifty 50 at 17,350-17,425 levels and for the banking index at 40,000-40,200 levels.

He recommends investing in interest rate-sensitive sectors. His top picks in these spaces include DLF, Godrej Properties, Sobha and auto stocks.

Here's a look at some of the stocks that Anil Singhvi likes:

Segment/sector	Stock
Four-wheeler manufacturer	Tata Motors, Maruti Suzuki
Two-wheeler manufacturer	Hero MotoCorp, Bajaj Auto
Private sector bank	HDFC Bank, Axis Bank, ICICI Bank
Public sector bank	Bank of Baroda, SBI

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

Nifty intraday and closing stop loss at 17,500
Nifty Bank intraday and closing stop loss at 40,500

For existing short positions:

Nifty intraday stop loss at 17,700 and closing stop loss at 17,800
Nifty Bank intraday and closing stop loss at 41,300

For new positions in Nifty:

Buy Nifty with a stop loss at 17,500 for targets of 17,650, 17,700, 17,750, 17,775 and 17,800
Aggressive traders can sell Nifty in the 17,700-17,800 range with a strict stop loss at 17,850 for targets of 17,650, 17,625, 17,600, 17,550 and 17,500

For new positions in Nifty Bank:

Buy Nifty Bank in the 40,525-40,725 range with a stop loss at 40,450 for targets of 40,800, 40,850, 41,000, 41,075, 41,125 and 41,250
Aggressive traders can buy Nifty Bank with a strict stop loss at 40,600 for targets of 41,000, 41,075, 41,125, 41,250, 41,325, 41,375 and 41,500
Aggressive traders can sell Nifty Bank in the 41,275-41,500 range with a strict stop loss at 41,700 for targets of 41,150, 41,075, 41,000, 40,850, 40,800 and 40,725

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