In a recent market strategy update, Zee Business Managing Editor Anil Singhvi provided key insights for traders navigating the current market conditions. Singhvi's analysis focuses on support and resistance levels for the Nifty50 and Nifty Bank indices, alongside a broader assessment of global and domestic factors influencing market sentiment.

Key Support and Resistance Levels:

Market Sentiment and Trend Analysis:

Singhvi's assessment of the market setup this morning is as follows:

He notes that FII long positions are at 30 per cent compared to 32 per cent in the previous session. The Nifty put-call ratio (PCR) stands at 1.12 versus 0.96, while the Nifty Bank PCR is at 1.02 versus 0.94. The volatility index, India VIX, is down one per cent at 13.60.

Global Market Turmoil:

Singhvi's analysis comes against the backdrop of significant turbulence in global markets, particularly on Wall Street. On Thursday, key US equity benchmarks experienced sharp declines:

These declines marked the worst intraday slide for the S&P 500 and Nasdaq indices in five years. The Dollar Index hit a six-month low, crude oil fell below $70 a barrel, and precious metals like gold and silver also experienced significant drops.

Trump's Tariff Announcements:

The market downturn coincided with announcements from former US President Donald Trump regarding tariffs. Concerns about worsening inflation and slowing growth, exacerbated by the prospect of a tariff war, have rattled investors. Singhvi cautions that the imminent tariff war could be detrimental to the global economy, particularly the US.

Trading Strategy and Risk Management:

Given the current market volatility, Singhvi advises traders to be extremely cautious with their overnight positions. He provides specific stop-loss levels for both existing long and short positions in Nifty and Nifty Bank:

• Nifty Bank: Intraday stop loss at 51,300 and closing stop loss at 50,800 for long positions; intraday and closing stop loss at 51,725 for short positions.

For new positions, Singhvi suggests aggressive traders can consider buying Nifty in the 23,000-23,150 range with a strict stop loss at 22,800, targeting levels between 23,235 and 23,450. Conversely, they can sell Nifty in the 23,300-23,400 range with a stop loss at 23,525, targeting levels between 23,250 and 22,900.

Similarly, for Nifty Bank, aggressive traders can buy in the 51,200-51,350 range with a stop loss at 50,900, targeting levels between 51,575 and 52,275. Selling can be considered in the 51,850-52,050 range with a stop loss at 52,275, targeting levels between 51,700 and 51,075.

Stocks of the Day:

Singhvi also highlighted Bajaj Finance and HDFC Bank as his 'Stocks of the Day'. He suggests buying Bajaj Finance futures with targets of Rs 8,690, Rs 8,775, and Rs 8,900, with a stop loss at Rs 8,490, citing the company's strong quarterly update. For HDFC Bank, he anticipates the stock to remain range-bound, with its quarterly update aligning with expectations.

In conclusion, Anil Singhvi's market strategy emphasizes caution and risk management amid global market uncertainties. His analysis provides specific levels and strategies for traders to navigate the Nifty50 and Nifty Bank indices, along with stock recommendations based on recent company performance.