Amid negative global markets, foreign institutional investors (FIIs), positive domestic institutional investors (DIIs), neutral future & options (F&O) and cautious sentiment cues, the short-term trend of the Indian stock markets will be neutral on Monday, February 21, 2022.

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The domestic equity markets on Friday, February 18, 2022, witnessed modest losses pairing early gains amid mixed global cues. The Sensex closed below the 58,000 mark while the Nifty ended below the 17,300 level. The S&P BSE Sensex fell 59.04 points, or 0.10 per cent, to finish at 57,832.97 while the Nifty lost 28.30 points, or 0.16 per cent, to settle at 17,276.20. In the sectoral indices at the NSE, the Bank Nifty index added 67.50 points, or 0.90 per cent, to 37,599.15.

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In the broader market at BSE, the S&P BSE Mid-Cap index and the S&P BSE Small-Cap index lost 0.80 per cent each.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for February 21:

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 36,825-37,050, below that 36,500-36,650 is a strong support zone.

Day higher zone on Bank Nifty is 37,800-37,975, above that 38,025-38,200 is a strong Profit booking zone.

Nifty support levels are 17,225, 17,150, 17,125, 17,050, 17,000, 16,875, 16,825.

Nifty higher levels are 17,325, 17,350, 17,375, 17,425, 17,450, 17,500.

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

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

FIIs long position at 60% Vs 58%

PCR at 1.10 Vs 1.14

India VIX up by 1% at 22.17

For Existing Long Positions:

Nifty Intraday with a stop loss of 17,100,

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

For Existing Short Positions:

Nifty Intraday and Closing stop loss are 17,400.

Bank Nifty Intraday with a stop loss of 38,000.

For New Positions:

Sell Nifty with a stop loss of 17,400 and target 17,225, 17,150, 17,100, 17,050, 17,000, 16,875, 16,825.

Buy Nifty in 16,800-16875 range with a stop loss of 16,750 target 17,000, 17,050, 17,100, 17,150, 17,200, 17,250.

Aggressive Traders Buy Nifty in 17,050-17150 range with a strict stop loss of 16,975 and target 17,200, 17,225, 17,275, 17,300, 17,350, 17,375, 17,450, 17,490.

For New Positions:

Aggressive Traders Sell Bank Nifty with a strict stop loss of 37,850 and target 37,325, 37,225, 37,150, 37,050, 36,925, 36,825, 36,750, 36,650.

Sell Bank Nifty in 37800-38000 range with a stop loss of 38,250 and target 37,600, 37,500, 37,325, 37,225, 37,150, 37,050.

Buy Bank Nifty in 36,825-36,925 range with a stop loss of 36,650 and target 37150, 37225, 37300, 37400, 37500, 37600, 37825

F&O Ban Update:

New In Ban: PNB

2 Already In Ban: Escorts, Indiabulls Housing Finance

Out Of Ban: Nil