Anil Singhvi’s Strategy February 17: Day support zone on Nifty is 15,165-15,240 & Bank Nifty is 36,625-36,750

Amid neutral global markets, foreign institutional investors (FIIs), futures & options (F&O), positive sentiment and negative domestic institutional investors (DIIs) cues, the short-term trend of the Indian stock markets will be positive on Wednesday, February 17, 2021.

Domestic benchmark indices ended almost flat after a volatile session on Tuesday, February 16, 2021. The BSE Sensex closed 50 points, or 0.1 per cent, down at 52,104 even as the global cues were positive. The NSE Nifty settled almost flat as it slipped one point, or 0.01 per cent, to finish at 15,313. Nifty Bank fell 208 points, or 0.56 per cent, to close at 37,098. 

See Zee Business Live TV Streaming Below:

On the other hand, the broader market at BSE gained. The BSE Mid-Cap index gained 0.19 per cent while the BSE Small-Cap index appreciated 0.43 per cent. 

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for February 17:

Day support zone on Nifty is 15,165-15,240, below that 15,065-15,115 is strong Buy zone. 

Day higher zone on Nifty is 15,310-15,340, above that 15,400-15,425 is profit-booking zone. 

Day support zone on Bank Nifty is 36,625-36,750, below that 36,400-36,475 is strong Buy zone. 

Day higher zone on Bank Nifty is 37,100-37,300, above that 37,450-37,700 is profit-booking zone.

The small day range for trading on Nifty is 15,240-15,315, while the medium and bigger ranges are 15,165-15,340 and 15,115-15,425, respectively. 

The small day range for trading on Bank Nifty is 36,750-37,100, while the medium and bigger ranges are 36,625-37,300 and 36,450-37,450, respectively. 

FIIs decreased Index long at 61% vs 63%.

PCR at 1.29 vs 1.57.

India VIX up 1% at 21.78. 

For Existing Long Positions:

Nifty intraday is 15,240 and closing stop loss is 15,100.

Bank Nifty intraday and closing stop loss are 36,750.

For Existing Short Positions:

Nifty intraday and closing stop loss are 15,350. 

Bank Nifty intraday and closing stop loss are 37,325.

For New Positions:

Buy Nifty in 15115-15175 range with a stop loss of 15,050 and target 15,240, 15,300, 15,340, 15,400, 15,425. 

Sell Nifty with a stop loss of 15,450 and target 15,250, 15,200, 15,175, 15,125. 

For New Positions:

Buy Bank Nifty in 36,475-36,625 range with a stop loss of 36,400 and target 36,750, 36,950, 37,100, 37,300. 

Sell Bank Nifty with a stop loss of 37,350 and target 36,750, 36,625, 36,500, 36,400.

Only 1 stock in F&O Ban:

New in Ban: Nil

Already in Ban: SAIL

Out of Ban: BHEL