Anil Singhvi’s Strategy on February 1: Know Pre & Post Budget 2022 Levels

Amid positive global markets, domestic institutional investors (DIIs), future & options (F&O), sentiment and negative foreign institutional investors (FIIs) cues, the short-term trend of the Indian stock markets will be neutral on Tuesday, February 1, 2022. 

At the domestic stock markets, the Sensex at Bombay Stock Exchange and the Nifty at the National Stock Exchange climbed more than one per cent on Monday, January 31, 2022. Both indices gained amid positive cues from global share markets.

The Sensex regained the 58,000 marks. The Nifty reclaimed 17,300 level. The Sensex jumped 813.94 points, or 1.42 per cent, to settle at 58,014.17. The Nifty 50 index also surged 237.90 points, or 1.39 per cent, to finish at 17,339.85. The Bank Nifty index gained 285.95 points, or 0.76 per cent, to close at 37,975.35.

In the broader market at the BSE, the S&P BSE MidCap and S&P SmallCap closed with a gain of 1.76 per cent and 0.99 per cent, respectively.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for February 1: 

PREBUDGET LEVELS

Nifty 17,275-17,300 is support zone, 17,525-17,650 is a higher zone.

Bank Nifty 37,700-37,850 is a support zone, 38,350-38,500 is a higher zone.

POST BUDGET LEVELS

Support zone on Nifty is 16,850-16,900, below that 16,425-16,625 is a next support zone.

Higher zone on Nifty is 17,750-17,850, above that 18,000-18,150 is a higher range.

Day support zone on Bank Nifty is 37,050-37,225, below that 36,375-36,525 is the next support zone.

Day higher zone on Bank Nifty is 38,725-38,850, above that 39,200-39,500 is a higher range.

FIIs long position at 32% Vs 28%.

PCR at 0.91 Vs 0.92.

Both FIIs and PCR are light and comfortable.

India VIX up by 6% at 21.95.

For Existing Long Positions:

Nifty Intraday and Closing stop loss are 17,250.

Bank Nifty Intraday and Closing stop loss are 37,500.

For Existing Short Positions:

Nifty Intraday and Closing stop loss are 17,650.

Bank Nifty Intraday and Closing stop loss are 38,850.

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