Anil Singhvi strategy for February 28: Key market triggers, levels to track in Nifty50, Nifty Bank today

Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 benchmark at 17,300-17,350 levels on Tuesday, February 28, and a strong support zone in the 17,175-17,250 band. For the Nifty Bank — whose 12 constituents include HDFC Bank, SBI, Bank of Baroda and Axis Bank, he sees support emerging in the 39,900-40,000 area, and a strong buy zone in the 39,600-39,750 range. 

Here's how Anil Singhvi sums up the market setup on February 28: 

• Global: Positive

• FII: Negative

• DII: Positive

• F&O: Neutral

• Sentiment: Cautious

• Trend: Negative

  

For the 50-scrip headline index, he expects a higher zone at 17,450-17,500 levels and a strong sell zone at 17,550-17,625 levels.​ For the banking index, he sees a higher zone at 40,500-40,675 levels and a strong sell zone in the 40,875-40,950 band.

• FII index longs at 17 per cent on Tuesday vs 18 per cent the previous day 
• Nifty put-call ratio (PCR) at 0.72 vs 0.79
• Nifty Bank PCR at 1.04 vs 0.62
• Fear index India VIX down 2.18 per cent at 13.88

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

• Nifty50 intraday stop loss at 17,250 and closing stop loss at 17,350

• Nifty Bank intraday and closing stop lopss at 39,900

For existing short positions:

• Nifty50 intraday and closing stop loss at 17,625

• Nifty Bank intraday stop loss at 40,550 and closing stop loss at 40,700

For new positions in Nifty:

• Buy Nifty in the 17,300-17,350 range with a stop loss at 17,225 for targets of 17,400, 17,425, 17,450, 17,500, 17,525, 17,550 and 17,600

• Sell Nifty in the 17,500-17,600 range with a stop loss at 17,650 for targets of 17,450, 17,425, 17,400, 17,350 and 17,300

For new positions in Nifty Bank:

• Buy Nifty Bank in the 39,825-40,000 range with a stop loss at 39,750 for targets of 40,125, 40,300, 40,350 and 40,500

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

• Aggressive traders can sell Nifty Bank in the 40,500-40,700 range with a strict stop loss at 40,800 for targets of 40,375, 40,300, 40,125, 40,000, 39,900 and 39,825

No stock in F&O ban

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