Anil Singhvi strategy for February 27: Key market triggers, levels to track in Nifty50, Nifty Bank today; Paytm in focus

Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 benchmark at 17,350-17,425 levels on Monday, February 27 — the second day of the March futures and options series, and a strong support 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 39,425-39,600 band, and a strong support zone in the 39,100-39,300 area. 

Here's how Anil Singhvi sums up the market setup on February 27: 

• Global: Negative

• FII: Negative

• DII: Positive

• F&O: Neutral

• Sentiment: Negative

• Trend: Negative

For the 50-scrip headline index, he expects a higher zone at 17,500-17,550 levels and a strong sell zone at 17,600-17,650 levels.​ For the banking index, he sees a higher zone at 40,125-40,350 levels and a strong sell zone in the 40,500-40,675 band.

• FII index longs at 18 per cent on Monday vs 19 per cent the previous day 
• Nifty put-call ratio (PCR) at 0.79 vs 0.93
• Nifty Bank PCR at 0.62 vs 0.71
• Fear index India VIX down 5.9 per cent at 14.19

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

• Nifty50 intraday and closing stop loss at 17,350

• Nifty Bank intraday and closing stop loss at 39,400

For existing short positions:

• Nifty intraday and closing stop loss at 17,650

• Nifty Bank intraday stop loss at 40,350 and closing stop loss at 40,700

For new positions in Nifty:

• Sell Nifty with a stop loss at 17,650 for target of 17,425, 17,400, 17,350, 17,300, 17,275 and 17,250

• Aggressive traders can buy Nifty in the 17,350-17,400 range with a strict stop loss at 17,250 for targets of 17,450, 17,500, 17,525, 17,550, 17,600 and 17,625

For new positions in Nifty Bank:

• Buy Nifty Bank in the 39,425-39,600 range with a stop loss at 39,350 for targets of 39,800, 39,900, 39,975, 40,125 and 40,350

• Sell Nifty Bank with a stop loss at 40,350 for targets of 39,825, 39,600, 39,500, 39,425, 39,300, 39,225 and 39,100

F&O ban update

• Already in ban: None

• New in ban: None

• Out of ban: None

Stock of the day

Paytm

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