Anil Singhvi strategy April 18: 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 18 session, a day after benchmark indices Nifty and Sensex halted a nine-day winning run. 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 17,575-17,650 levels on April 18.

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 benchmark at 17,575-17,650 levels, and a strong buy zone at 17,500-17,550 levels on Tuesday, April 18, a day after equity benchmarks halted a nine-day winning run.

For the Nifty Bank — whose 12 constituents include HDFC Bank, SBI, Bank of Baroda and Axis Bank, he sees support emerging at 42,000-42,125 levels and a strong buy zone in the 41,600-41,800 band.

Here's how Anil Singhvi sums up the market setup on April 18:

Global: Positive

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

For the 50-scrip headline index, he expects a higher zone at 17,750-17,800 levels and a profit-booking zone at 17,825-17,875 levels. For the banking index, he sees a higher zone at 42,450-42,600 levels and a strong sell area at 42,725-42,825 levels.

FII index longs at 37 per cent on Tuesday vs 39 per cent
Nifty put-call ratio (PCR) at 0.93 vs 1.28
Nifty Bank PCR at 1.15 vs 1.34
Fear index India VIX up three per cent at 12.27

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

Nifty Intraday n Closing SL 17500
Bank Nifty Intraday SL 41800 n Closing SL 41500

For existing short positions:

Nifty Intraday n Closing SL 17900
Bank Nifty Intraday n Closing SL 42600

For new positions in Nifty:

Buy Nifty in 17575-17650 range:
SL 17500 Tgt 17700, 17725, 17750, 17800, 17825, 17850

Sell Nifty in 17800-17900 range:
SL 18000 Tgt 17725, 17700, 17650, 17625, 17600, 17575

For new positions in Nifty Bank:

Buy Bank Nifty in 41800-42000 range:
SL 41750 Tgt 42125, 42200, 42275, 42375, 42450, 42500

Aggressive Traders Buy Bank Nifty:
Strict SL 42000 Tgt 42375, 42450, 42500, 42550, 42625, 42725

Sell Bank Nifty in 42500-42725 range:
SL 42850 Tgt 42450, 42375, 42275, 42150, 42000, 41800

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