Anil Singhvi strategy for February 24: Key market triggers, levels to track in Nifty50, Nifty Bank on first day of March F&O series
Zee Business Managing Editor Anil Singhvi shares his strategy for the February 24 session on Dalal Street - as the market enters the March derivatives (F&O) series. Check out his take on key support and resistance levels for the Nifty and the Nifty Bank, and how he views the market.
Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 benchmark at 17,350-17,450 levels on Friday, February 24 — as Dalal Street enters a new monthly derivatives series, and a strong buy zone in the 17,250-17,300 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 39,900-40,000 band, and a strong buy zone in the 39,425-39,600 area.
Here's how Anil Singhvi sums up the market setup on February 24:
- Global: Positive
- FII: Negative
- DII: Positive
- F&O: Neutral
- Sentiment: Neutral
- Trend: Neutral
For the 50-scrip headline index, he expects a higher zone at 17,550-17,625 levels and a strong sell zone at 17,700-17,775 levels. For the banking index, he sees a higher zone at 40,500-40,675 and a strong sell zone in the 40,875-40,950 range.
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