Anil Singhvi’s Strategy February 20: PSU Stocks are Positive; Sell Auto Stocks on Rise

Anil Singhvi’s Strategy February 20:  Amid positive foreign institutional investors (FIIs) and domestic institutional investors (DIIs), neutral global market, futures & options (F&O) and sentiment cues, the short-term trend of the Indian stock markets will be positive on Thursday, February 20, 2020.

The domestic stock markets snapped the four-day losing streak on Wednesday, February 19, 2020. The positive movement was supported by positive global shares. Sentiment also improved after the finance minister Nirmala Sitharaman said the government would unveil measures to limit the impact of the coronavirus outbreak. Strong gains in index pivotals Hindustan Unilever, Reliance Industries and HDFC boosted indices higher.

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The Sensex at the Bombay Stock Exchange shot up 428.62 points, or 1.05 per cent, to end at 41,323, today. The Nifty 50 at the National Stock exchange jumped 133.40 points, or 1.15 per cent, to 12,125.90. Likewise, Bank Nifty gained 279.55 points, or 0.91 per cent, and settled at 30,842.05.

Zee Business's Managing Editor Anil Singhvi's Market Strategy for February 20:

The small day range for trading on Nifty is 12,100-12,150, while the medium and bigger ranges are 12,050-12,200 and 12,000-12,250 respectively.

The small day range for trading on Bank Nifty is 30,700-30,950, while the medium and bigger ranges are 30,600-31,050 and 30,500-31,200.

For Existing Long Positions:

Nifty intraday and closing stop loss 12,000.

Bank Nifty intraday and closing stop loss 30,600.

For Existing Short Positions:

Nifty intraday and closing stop loss 12,200.

Bank Nifty intraday and closing stop loss 31,000.

For New Positions:

Buy Nifty near 12,050 with a stop loss of 12,000 and target 12,100, 12,125, 12,150, 12,175.

Sell Nifty in 12,175-12,225 range with a stop loss of 12,275 and target 12,150, 12,125, 12,100.

Buy Bank Nifty in 30,600-30,700 range with a stop loss of 30,500 and target 30,825, 30,950, 31,050, 31,150.

Sell Bank Nifty in 31,150-31,225 range with a stop loss of 31,300 and target 31,050, 30,950, 30,850.

Put-Call Ratio (PCR) is 1.38. The volatility index (VIX) is 14.02.

Already in F&O Ban: Yes Bank, NCC

Sectors:

Positive: PSU

Negative: Auto sell on rise.