Amid positive global markets, domestic institutional investors (DIIs), neutral foreign institutional investors (FIIs), Future & options (F&O) and sentiment cues, the short-term trend of the Indian stock markets will be neutral on Wednesday, February 16, 2022. 

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Domestic equity markets on Tuesday, February 15, 2022, gained more than three per cent amid mixed global cues. The Sensex at Bombay Stock Exchange closed above the 58,100 mark while the Nifty at National Stock Exchange ended above the 17,300 level.

The Sensex climbed 1736.21 points, or 3.08 per cent, to settle at 58,142.05. The Nifty 50 also surged 509.65 points, or 3.03 per cent, to 17,352.45. In the sectoral indices at the NSE, the Bank Nifty added 1,261.55 points, or 3.42 per cent, to close at 38,170.10.

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In the broader market at the BSE, the Mid-Cap jumped 2.68 per cent and the Small-Cap index gained 2.59 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for February 16:

Day support zone on Nifty is 17,050-17,125, Below that 16,850-17,000 is a strong support zone.

Day higher zone on Nifty is 17,425-17,475, Above that 17,525-17,600 is a strong Profit booking zone.

Day support zone on Bank Nifty is 37,325-37,500, Below that 36,825-36,925 is a strong support zone.

Day higher zone on Bank Nifty is 38,500-38,725, Above that 38,850-39,000 is a strong Profit booking zone.

Nifty support levels 17,275, 17,200, 17,150, 17,100, 17,050, 17,000, 16,850.

Nifty higher levels 17,425, 17,475, 17,500, 17,575, 17,625.

Bank Nifty support levels 38,025, 37,800, 37,700, 37,575, 37,500, 37,325, 37,050, 36,925.

Bank Nifty higher levels 38,400, 38,500, 38,600, 38,725, 38,850, 38,925, 39,000, 39,175.

FIIs long position at 54% Vs 47%

PCR light and comfortable at 1.00 at Vs 0.76

India VIX down by 10% at 20.61

For Existing Long Positions:

Nifty Intraday and Closing stop loss are 17,200.

Bank Nifty Intraday and Closing stop loss are 37,900.

For Existing Short Positions:

Nifty Intraday stop loss is 17,525 and Closing stop loss is 17,600.

Bank Nifty Intraday and Closing stop loss are 38,600.

For New Positions:

Buy Nifty with a stop loss of 17,200 and target 17,425, 17,475, 17,500, 17,575, 17,600, 17,625.

Sell Nifty in 17,475-17,600 range with a stop loss of 17,650 and target 17,425, 17,375, 17,350, 17,275, 17,200, 17,150.

For New Positions:

Aggressive Traders Buy Bank Nifty with a strict stop loss of 37,900 and target 38,375, 38,500, 38,600, 38,725, 38,850, 38,925, 39,000.

Sell Bank Nifty in 38,800-39,000 range with a stop loss of 39,200 and target 38,625, 38,525, 38,400, 38,200, 38,050, 37,800.

F&O Ban Update:

New In Ban: Escorts

2 Out Of Ban: PNB, Tata Power

3 Already In Ban: IB Housing, SAIL, BHEL

Vedant Fashions Listing Preview: Expect to list in the 900-950 range.

Long Term Investors can HOLD.

Short Term Investors can keep Stop Loss of issue price 866.