Anil Singhvi strategy for February 27: Key market triggers, levels to track in Nifty50, Nifty Bank today; Paytm in focus
Zee Business Managing Editor Anil Singhvi shares his strategy for the February 27 session on Dalal Street — the second trading session of the March derivatives (F&O) series. 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 expects support for the Nifty50 benchmark at 17,350-17,425 levels on Monday, February 27 — the second day of the March futures and options series, and a strong support zone in the 17,250-17,300 area. For the Nifty Bank — whose 12 constituents include HDFC Bank, SBI, Bank of Baroda, Axis Bank and Kotak Mahindra Bank, he sees support emerging in the 39,425-39,600 band, and a strong support zone in the 39,100-39,300 area.
Here's how Anil Singhvi sums up the market setup on February 27:
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Global: Negative
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FII: Negative
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DII: Positive
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F&O: Neutral
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Sentiment: Negative
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Trend: Negative
For the 50-scrip headline index, he expects a higher zone at 17,500-17,550 levels and a strong sell zone at 17,600-17,650 levels. For the banking index, he sees a higher zone at 40,125-40,350 levels and a strong sell zone in the 40,500-40,675 band.
- FII index longs at 18 per cent on Monday vs 19 per cent the previous day
- Nifty put-call ratio (PCR) at 0.79 vs 0.93
- Nifty Bank PCR at 0.62 vs 0.71
- Fear index India VIX down 5.9 per cent at 14.19
ANIL SINGHVI MARKET STRATEGY
For existing long positions:
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Nifty50 intraday and closing stop loss at 17,350
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Nifty Bank intraday and closing stop loss at 39,400
For existing short positions:
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Nifty intraday and closing stop loss at 17,650
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Nifty Bank intraday stop loss at 40,350 and closing stop loss at 40,700
For new positions in Nifty:
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Sell Nifty with a stop loss at 17,650 for target of 17,425, 17,400, 17,350, 17,300, 17,275 and 17,250
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Aggressive traders can buy Nifty in the 17,350-17,400 range with a strict stop loss at 17,250 for targets of 17,450, 17,500, 17,525, 17,550, 17,600 and 17,625
For new positions in Nifty Bank:
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Buy Nifty Bank in the 39,425-39,600 range with a stop loss at 39,350 for targets of 39,800, 39,900, 39,975, 40,125 and 40,350
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Sell Nifty Bank with a stop loss at 40,350 for targets of 39,825, 39,600, 39,500, 39,425, 39,300, 39,225 and 39,100
F&O ban update
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Already in ban: None
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New in ban: None
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Out of ban: None
Stock of the day
Paytm
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