On Wednesday, April 16, Zee Business Managing Editor Anil Singhvi presented his market strategy, outlining key support and resistance levels for the Nifty50 and Nifty Bank indices. His analysis incorporates global cues, FII/DII activity, and F&O data to provide a comprehensive trading setup for investors.

Nifty50 Outlook:

• Support Zone: Singhvi anticipates support for the Nifty50 index at 23,125-23,200 levels. A stronger buying opportunity exists at 22,925-23,000 levels.
• Higher Zone: The market wizard sees a higher zone at 23,450-23,550 levels.
• Profit Booking Zone: Investors should consider booking profits in the 23,600-23,750 range.

Nifty Bank Outlook:

• Support Zone: For the Nifty Bank, support is expected at 51,875-52,075 levels, with a strong buy zone at 51,575-51,700 levels.
• Higher Zone: Singhvi expects a higher zone at 52,550-52,700 levels for the banking index.
• Profit Booking Zone: The profit-booking zone is identified at 52,825-52,975 levels.

Singhvi's Trade Setup Summary:

• Global: Positive
• FII: Positive (FII long positions at 28% vs 25% previously)
• DII: Negative
• F&O: Neutral
• Sentiment: Positive
• Trend: Neutral
• Nifty PCR: 0.93 vs 0.96
• Nifty Bank PCR: 1.02 vs 0.89
• India VIX: Down 20% at 16.13

Trading Strategy:

Existing Long Positions:

• Nifty intraday and closing stop loss at 23,150
• Nifty Bank intraday stop loss at 52,000 and closing stop loss at 51,850

Existing Short Positions:

• Nifty intraday and closing stop loss at 23,400
• Nifty Bank intraday and closing stop loss at 52,550

New Positions in Nifty50:

• Aggressive traders (Buying): Buy Nifty with a strict stop loss at 23,150 for targets of 23,375, 23,450, 23,500, 23,535, 23,600 and 23,650.
• Aggressive traders (Selling): Sell Nifty in the 23,500-23,600 range with a strict stop loss at 23,700 for targets of 23,450, 23,400, 23,375, 23,325, 23,250 and 23,200.

New Positions in Nifty Bank:

• Buying: The best range to buy Nifty Bank is 51,875-52,075 with a stop loss at 51,750 for targets of 52,375, 52,475, 52,550, 52,700, 52,875 and 52,925.
• Aggressive traders (Selling): Sell Nifty Bank in the 52,775-52,925 range with a strict stop loss at 53,050 for targets of 52,550, 52,475, 52,375, 52,200, 52,075 and 51,875.

Positive Trade-Related Updates:

• The White House is open to negotiations with China, viewing that China needs American money and should initiate talks.
• India and the US have signed the terms of reference for the first phase of a potential bilateral trade deal.

F&O Ban Update:

• New in ban: None
• Already in ban: NALCO, Manappuram Finance, Birlasoft, Hindustan Copper
• Out of ban: None

Anil Singhvi's 'Stocks of the Day':

1. ICICI Prudential:

• Support at Rs 535 and Rs 540
• Higher levels at Rs 585 and Rs 590
• Positive: Strong results in every aspect, though signs of a slight slowdown in overall growth.
• On Tuesday, April 15, ICICI Prudential Life's Q4 profit increased to ₹386 crore. Net premium income reached ₹16,369 crore. An interim dividend of ₹0.85/share was declared. The stock closed at ₹572.50, up 3.54%.

2. ICICI Lombard:

• Support at Rs 1,785 and Rs 1,800
• Strong moves are expected above the Rs 1,860-1,865 range
• Mixed results; the stock rose 6.5 per cent on Tuesday but has declined 4.0 per cent in three months.
• ICICI Lombard General Insurance reported strong profit and premium growth. GDPI reached ₹26,833 crore, up 8.3% YoY. The stock closed at ₹1,832, up 6.60%.

3. IREDA:

• Support at Rs 158
• Higher levels at Rs 173 and Rs 178
• Positive: Strong results in every aspect, though the stock appears to be expensive. It surged 9 per cent on Tuesday and has rallied 20 per cent in a month.
• IREDA reported a 49% YoY increase in profit and over 47% growth in NII for Q4. The stock closed at ₹168.16, up 9.05% on Tuesday.

Additional Stock Updates from April 15:

• TCS: Andhra Pradesh government allocated land to TCS for a significant investment and job creation. The stock closed at ₹3,255 on Tuesday.
• Mahanagar Gas: Reported an 18% decrease in APM gas allocation. The stock closed at ₹1,312.40, up 2.73%.
• Federal Bank: Board meeting on April 30 may announce quarterly results and dividends. The stock closed at ₹192.31, up nearly 1%.
• Crisil: Board meeting on April 30 to discuss quarterly results and interim dividend. The stock closed at ₹4,355, up 3.30%.
• Gensol Engineering: SEBI has taken action against Gensol Engineering and its promoters.