Anil Singhvi’s Strategy February 18: Metals, Auto & NBFC Sectors are Negative; Sell JSPL Futures with Stop Loss 192

Anil Singhvi’s Strategy February 18: Amid neutral domestic institutional investors (DIIs) and futures & options (F&O) and negative global markets, foreign institutional investors (FIIs) and Sentiments cues, the short-term trend of the Indian stock markets will be positive on Tuesday, February 18, 2020.

Domestic benchmark indices started the week on a weak note on Monday, February 17, 2020, amid weakness in global markets. Sentiment took a hit after Moody's cut 2021 GDP growth forecast to 5.8% from 6.7% earlier. The Sensex at the Bombay Stock Exchange declined 202.05 points, or 0.49%, close at 41,055.69. The Nifty at the National Stock Exchange lost 67.65 points, or 0.56%, to end at 12,045.80. Likewise, Bank Nifty went down 154.10 points, or 0.50%, to 30,680.70.

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In the broader market, the BSE Mid-cap Index fell 0.9 per cent and the Small Cap index shed nearly one per cent.

Zee Business's Managing Editor Anil Singhvi's Market Strategy for February 18:

Intraday important support on Nifty is 11,950-12,000 and Bank Nifty is 30,500. Below it, big down risk opens up till budget day lows.

Next BIG support zone on Nifty is 11,750-11,800 and Bank Nifty is 30,000-30,200.  

The small day range for trading on Nifty is 12,000-12,100, while the medium and bigger ranges are 11,950-12,150 and 11,800-12,200.

The small day range for trading on Bank Nifty is 30,500-30,800, while the medium and bigger ranges are 30,200-31,000 and 30,100-31,200.

For Existing Long Positions:

Nifty intraday and closing stop loss 12,000.

Bank Nifty intraday and closing stop loss 30,500.

For Existing Short Positions:

Nifty intraday and closing stop loss 12,200.

Bank Nifty intraday and closing stop loss 31,050.

For New Positions:

Sell Nifty with a stop loss of 12,100 and target 12,000, 11,950.

Buy Nifty in 11,950-11,975 range with a stop loss of 11,925 and target 12,000, 12,025, 12,050, 12,100.

Sell Bank Nifty with a stop loss of 30,850 and target 30,600, 30,500, 30,200.

Buy Bank Nifty near 30,500 with a stop loss of 30,450 and target Tgt 30600, 30675, 30750, 30850.

Put-Call Ratio (PCR) is 1.14. The volatility index (VIX) is 14.42.

Enters F&O Ban: NCC

Out of Ban: Yes Bank

Sectors:

Negative: Metals, Auto, NBFCs

Stock of the Day:

Sell JSPL Futures: Stop loss 192 and target 185, 183. Metals stocks weak due to global concerns.