Amid negative global markets, foreign institutional investors (FIIs), positive domestic institutional investors (DIIs), neutral future & options (F&O) and negative sentiment cues, the short-term trend of the Indian stock markets will be neutral on Tuesday, February 22, 2022.

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The equity benchmarks, Sensex and the Nifty, on Monday, February 21, 2022, witnessed modest losses pairing early gains amid mixed global cues. The Sensex closed below 57,700 points while the Nifty ended near 17,200 levels. The S&P BSE Sensex fell 149.38 points, or 0.26 per cent, to finish at 57,683.59 while the Nifty lost 69.65 points, or 0.40 per cent, to settle at 17,206.65.  

In the broader market at the BSE, the MidCap and the SmallCap underperformed the Sensex. The MidCap declined 0.8 per cent and the SmallCap index plunged 2.2 per cent.

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Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for February 22:

Day support zone on Nifty is 17,000-17,075, below that 16800-16875 is the next support zone.

Day higher zone on Nifty is 17,200-17,275, above that 17,300-17,375 is a strong Profit booking zone.

Day support zone on Bank Nifty is 36,925-37,150, below that 36,650-36,825 is a strong support zone.

Day higher zone on Bank Nifty is 37,750-37,950, above that 38050-38200 is a strong Profit booking zone.

Nifty support levels 17,150, 17,100, 17,050, 17,000, 16,875, 16,850, 16,800.

Nifty higher levels are 17,250, 17,275, 17,325, 17,350, 17,375, 17,450.

Bank Nifty support levels are 37,525, 37,325, 37,150, 37,050, 36,925, 36,825, 36,650.

Bank Nifty higher levels are 37,750, 37,825, 37,950, 38,050, 38,200, 38,350.

FIIs long position at 59% Vs 60%

PCR at 1.06 Vs 1.10

India VIX up by 3% at 22.90

For Existing Long Positions:

Nifty Intraday stop loss is 17,000 and Closing stop loss is 17,100.

Bank Nifty Intraday stop loss is 37,150 and Closing stop loss is 37,500.

For Existing Short Positions:

Nifty Intraday and Closing stop loss are 17,400.

Bank Nifty Intraday stop loss is 38,250 and Closing stop loss is 38,000.

For New Positions:

Sell Nifty with a stop loss of 17,400 and target 17,075, 17,050, 17,000, 16,875, 16,850, 16,800.

Aggressive Traders Buy Nifty in 16,800-16,875 range with a strict stop loss of 16,750 and target 17,000, 17,050, 17,075, 17,100, 17,150, 17,200, 17,250.

For New Positions:

Sell Bank Nifty with a stop loss of 38,050 and target 37,500, 37,325, 37,150, 37,050, 36,925, 36,825, 36,650.

Aggressive Traders Buy Bank Nifty in 36,825-36,925 range with a strict stop loss of 36,650 and target 37,150, 37,325, 37,400, 37,500, 37,600, 37,675, 37,800, 37,925.

F&O Ban Update:

Out Of Ban: Indiabulls Housing Finance

2 Already In Ban: PNB, Escorts

New In Ban: Nil