Amid negative global markets, neutral foreign institutional investors (FIIs), future & options (F&O), positive domestic institutional investors (DIIs) and cautious sentiment cues, the short-term trend of the Indian stock markets will be neutral on Friday, February 18, 2022. 

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Domestic equity benchmarks on Thursday, February 17, 2022, witnessed modest losses pairing early gains amid mixed global cues. The Sensex closed below the 58,000 mark while the Nifty ended at around 17,300 level. The Sensex fell 104.67 points, or 0.18 per cent, to finish at 57,892.01 while the Nifty lost 17.60 points, or 0.10 per cent, to settle at 17,304.60. In the sectoral indices, the Bank Nifty index lost 422.15 points, or 1.11 per cent, to shut at 37,531.65.

The broader markets underperformed the Sensex at the BSE with the S&P BSE MidCap and S&P BSE SmallCap dropped 0.22 per cent and 0.67 per cent, respectively.

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

Day support zone on Nifty is 17,050-17,150, below that 16,800-16,875 is a strong support zone.

Day higher zone on Nifty is 17,300-17,375, above that 17,450-17,500 is a strong Profit booking zone.

Day support zone on Bank Nifty is 36,825-37,000, below that 36,500-36,650 is a strong support zone.

Day higher zone on Bank Nifty is 37,750-37,975, above that 38,025-38,200 is a strong Profit booking zone.

Nifty support levels 17,250, 17,200, 17,150, 17,125, 17,050, 17,000, 16,875, 16,825.

Nifty higher levels 17,325, 17,350, 17,375, 17,425, 17,450, 17,490.

Bank Nifty support levels 37,325, 37,225, 37,150, 37,050, 36,925, 36,825, 36,650.

Bank Nifty higher levels 37,650, 37,750, 37,800, 37,975, 38,025, 38,200, 38,350.

 

FIIs long position at 58% Vs 55%

PCR at 1.14 Vs 0.97

India VIX up by 7% at 22.01

 

For Existing Long Positions:

Nifty Intraday and Closing stop loss are 17,200.

Bank Nifty Intraday stop loss is 37,300 and Closing stop loss is 37,500.

 

For Existing Short Positions:

Nifty Intraday stop loss is 17,500 and Closing stop loss is 17,400.

Bank Nifty Intraday and Closing stop loss are 38,200.

 

For New Positions:

Buy Nifty in 16800-16875 range with a Strict stop loss of 16,750 and target 17,000, 17,050, 17,100, 17,150, 17,200, 17,250.

Aggressive Traders Buy Nifty in 17,050-17,150 range with a Strict stop loss of 16,975 and target 17,200, 17,250, 17,300, 17,350, 17,375, 17,450, 17,490.

Sell Nifty in 17425-17500 range with a stop loss of SL 17,550 and target 17,375, 17,350, 17,300, 17,250, 17,200, 17,150.

Aggressive Traders Sell Nifty with a Strict stop loss of 17,425 and target 17,250, 17,200, 17,150, 17,100, 17,050, 17,000, 16,875, 16,825.

 

For New Positions:

Buy Bank Nifty in 36,825-36,925 range with a stop loss of 36,750 and target 37,150, 37,225, 37,325, 37,425, 37,500, 37,650, 37,700, 37,800.

Sell Bank Nifty in 37975-38175 range with a stop loss of 38,500 and target 37,800, 37,700, 37,650, 37,525, 37,425.

Aggressive Traders Sell Bank Nifty with a Strict stop loss of 37,850 and target 37,425, 37,325, 37,225, 37,150, 37,025, 36,925, 36,825, 36,650.

F&O Ban Update:

Out Of Ban: SAIL

2 Already In Ban: Escorts, Indiabulls Housing Finance

New In Ban: Nil