Anil Singhvi strategy March 3: Key market triggers, important levels to track in Nifty50, Nifty Bank

Zee Business Managing Editor Anil Singhvi shares his strategy for the March 3 session on Dalal Street. 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 17,300-17,350 levels on March 3.

Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 benchmark at 17,300-17,350 levels on Friday, March 3, and a strong support zone in the 17,175-17,250 band. For the Nifty Bank — whose 12 constituents include HDFC Bank, SBI, Bank of Baroda and Axis Bank, he sees support emerging in the 40,275-40,375 area, and a strong buy zone in the 40,000-40,075 range.

Here's how Anil Singhvi sums up the market setup on March 3:

Global: Positive
FII: Neutral

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

For the 50-scrip headline index, he expects a higher zone at 17,400-17,465 levels and a profit-booking zone at 17,500-17,550 levels. For the banking index, he sees a higher zone at 40,575-40,775 levels and a profit-booking zone in the 40,875-40,975 band.

FII index longs at 15 per cent on Friday vs 18 per cent the previous day
Nifty put-call ratio (PCR) at 0.91 vs 0.92
Nifty Bank PCR at 0.76 vs 1.14
Fear index India VIX down 0.19 per cent at 12.97

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

Nifty50 intraday and closing stop loss at 17,250
Nifty Bank intraday and closing stop loss at 40,250

For existing short positions:

Nifty intraday and closing stop loss at 17,500
Nifty Bank intraday and closing stop loss at 40,800

For new positions in Nifty:

Buy Nifty with a stop loss at 17,250 for targets of 17,400, 17,425, 17,450, 17,500, 17,525 and 17,550
Aggressive traders can sell Nifty in the 17,450-17,550 range with a strict stop loss at 17,625 for targets of 17,400, 17,350, 17,325, 17,300 and 17,250

For new positions in Nifty Bank:

Buy Bank Nifty with a stop loss at 40,250 for targets of 40,500, 40,575, 40,700, 40,775, 40,875 and 40,975
Aggressive traders can sell Nifty Bank in the 40,775-40,975 range with a strict stop loss at 41,150 for targets of 40,725, 40,600, 40,525, 40,375 and 40,300

No stock in F&O ban

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