Anil Singhvi strategy for February 22: Important market triggers, key levels to track in Nifty50, Nifty Bank today

Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 benchmark at 17,700-17,775 levels on Wednesday, February 22, and a strong buy zone in the 17,600-17,650 area. For the Nifty Bank — whose 12 constituents include HDFC Bank, SBI, Bank of Baroda, Axis Bank and Kotak Mahindra Bank, he sees support emerging in the 40,350-40,400 and 40,150-40,200 bands, and a strong buy zone in the 39,425-39,500 area. 

Here's how Anil Singhvi sums up the market setup on February 22: 

• Global: Negative

• FII: Positive

• DII: Neutral

• F&O: Neutral

• Sentiment: Negative

• Trend: Neutral

Anil Singhvi is of the view that the trend will turn negative if the Nifty and the Nifty Bank indices close below the 17,600 and 40,300 levels respectively. 

For the 50-scrip headline index, he expects a higher zone at 17,825-17,875 levels and a strong sell zone at 17,925-18,000 levels.​ For the banking index, he sees a higher zone at 40,700-40,875 and a strong sell zone in the 40,950-41,125 range.

• FII index longs at 23 per cent on Wednesday vs 22 per cent the previous day
• Nifty put-call ratio (PCR) at 0.83 vs 0.74 the previous day
• Nifty Bank PCR at 0.61 vs 0.54 the previous day
• Fear index India VIX up 4.67 per cent at 14.01

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

• Nifty50 intraday stop loss at 17,700 and closing stop loss at 17,600

• Nifty Bank intraday stop loss at 40,100 and closing stop loss at 40,300

For existing short positions:

• Nifty intraday stop loss at 17,925 and closing stop loss at 18,035

• Nifty Bank intraday stop loss at 41,000 and closing stop loss at 41,150

For new positions in Nifty:

• Sell Nifty with a stop loss at 17,925 for targets of 17,775, 17,750, 17,725, 17,700, 17,650 and 17,600

• Buy Nifty in the 17,650-17,725 range with a stop loss at 17,600 for targets of 17,775, 17,800, 17,825, 17,850, 17,875 and 17,925

For new positions in Nifty Bank:

• Sell Nifty Bank with a strict stop loss at 41,000 for targets of 40,575, 40,500, 40,375, 40,175, 40,075 and 39,925

• Buy Nifty Bank in the 39,425-39,500 range with a stop loss at 39,350 for targets of 39,700, 39,850, 39,925, 40,075, 40,150 and 40,350

• Aggressive traders can buy Nifty Bank in the 40,175-40,375 range with a strict stop loss at 40,000 for targets of 40,500, 40,575, 40,675, 40,875 and 40,950

F&O ban update

• Already in ban: None

• New in ban: Vodafone Idea

• Out of ban: None

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