Anil Singhvi strategy for February 16: Important market triggers, key levels to watch out for in Nifty50, Nifty Bank today

Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 benchmark at 17,875-17,950 levels on Thursday, February 16, and a strong buy zone in the 17,800-17,850 band. For the Nifty Bank — whose 12 constituents include SBI, HDFC Bank, Bank of Baroda, Kotak Mahindra Bank, Axis Bank and ICICI Bank, he sees support coming in at 41,500-41,625 levels, and a strong buy zone in the 41,275-41,425 area. 

Here's how Anil Singhvi sums up the market setup on February 16: 

• Global: Positive

• FII: Positive

• DII: Positive

• F&O: Cautious

• Sentiment: Positive

• Trend: Neutral

For the 50-scrip headline index, Anil Singhvi expects a higher zone at 18,100-18,125 levels and a strong sell zone at 18,150-18,200 levels.​ For the banking index, he sees a higher zone at 41,950-42,075 levels and a profit-booking area in the 42,175-42,375 range.

• FII index longs at 26 per cent on Thursday vs 27 per cent the previous day

• Put-call ratio (PCR) at 1.39 vs 1.16 the previous day

• Nifty Bank PCR unchanged at 1.01

• Fear index India VIX down 4.4 per cent at 12.86

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

• Nifty intraday stop loss at 17,900 and closing stop loss at 17,775

• Nifty Bank intraday stop loss at 41,450 and closing stop loss at 41,250

For existing short positions:

• Nifty intraday and closing stop loss at 18,125

• Nifty Bank intraday and closing stop loss at 42,025

For new positions in Nifty:

• Buy Nifty with a stop loss at 17,850 for targets of 18,050, 18,100, 18,125, 18,150, 18,200 and 18,250

• Aggressive traders sell Nifty50 in the 18,150-18,250 range with a strict stop loss at 18,300 for targets of 18,100, 18,050, 18,000, 17,950, 17,925 and 17,875

For new positions in Nifty Bank:

• Buy Nifty Bank with a stop loss at 41,400 for targets of 41,800, 41,950, 42,000, 42,075, 42,175 and 42,275

• Aggressive traders can sell Nifty Bank in the 41,950-42,075 range with a strict stop loss at 42,200 for targets of 41,800, 41,725, 41,675, 41,625, 41,550 and 41,500

F&O ban update

• Already in ban: Punjab National Bank (PNB), BHEL, IB Housing Finance, Ambuja Cements

• New in ban: None

• Out of ban: None

STOCKS OF THE DAY

• Buy Apollo Hospitals: Strong guidance after concall, an EPS upgrade of 5-6 per cent possible
• Sell Interglobe Aviation (IndiGo): Instead of a strategic sale, management selling stake in open market and huge competition increasing

Catch latest stock market updates here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.