Anil Singhvi strategy for February 17: Important market triggers, key levels to track in Nifty50, Nifty Bank

Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 benchmark at 17,900-17,950 levels on Friday, February 17, and a strong buy zone in the 17,800-17,850 band. For the Nifty Bank — whose 12 constituents include SBI, HDFC Bank, Bank of Baroda, Kotak Mahindra Bank, Axis Bank and ICICI Bank, he sees support coming in at 41,375-41,500 levels, and a strong buy zone in the 41,100-41,250 area. 

Here's how Anil Singhvi sums up the market setup on February 17: 

• Global: Negative
• FII: Positive
• DII: Positive
• F&O: Neutral
• Sentiment: Neutral
• Trend: Neutral

For the 50-scrip headline index, Anil Singhvi expects a higher zone at 18,000-18,035 levels and a profit-booking zone at 18,100-18,125 levels.​ For the banking index, he sees a higher zone at 41,725-41,800 levels and a strong sell zone in the 41,950-42,075 range.

• FII index longs unchanged at 26 per cent on Friday vs the previous day
• Put-call ratio (PCR) at 1.04 vs 1.39 the previous day
• Nifty Bank at 0.72 vs 1.01 the previous day
• Fear index India VIX unchanged at 12.89

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

• Nifty50 intraday and closing stop loss at 17,850

• Nifty Bank intraday stop loss at 41,450 and closing stop loss at 41,250

For existing short positions:

• Nifty intraday and closing stop loss at 18,150

• Nifty Bank intraday and closing stop loss at 42,050

For new positions in Nifty:

• Sell Nifty with a stop loss at 18,150 for targets of 17,950, 17,925, 17,900, 17,850 and 17,800

• Buy Nifty in the 17,850-17,925 range with a stop loss at 17,775 for targets of 17,950, 18,000, 18,025, 18,100 and 18,125

For new positions in Nifty Bank:

• Sell Nifty Bank in the 41,775-41,950 range with a stop loss at 42,050 for targets of 41,675, 41,625, 41,550, 41,500, 41,450, 41,375, 41,275 and 41,150

• Buy Nifty Bank in the 41,275-41,425 range with a stop loss at 41,100 for targets of 41,500, 41,550, 41,625, 41,675, 41,725, 41,775 and 41,950

F&O ban update

• Already in ban: Punjab National Bank (PNB), BHEL, IB Housing Finance, Ambuja Cements

• New in ban: None

• Out of ban: None

STOCK OF THE DAY

• Pricol-Minda Corp deal

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