Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty50 index emerging at 21,650-21,725 levels and a strong buy zone at 21,525-21,625 levels on Monday, February 12.

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For the Nifty Bank, he expects support to come in at 45,375-45,525 levels and a strong buy zone at 44,850-45,025 levels.

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

  • Global: Positive
  • FII: Negative
  • DII: Neutral
  • F&O: Neutral
  • Sentiment: Neutral
  • Trend: Positive

The market wizard expects a higher zone for the Nifty50 at 21,850-21,900 levels and a strong sell zone at 21,950-22,050 levels. 

For the banking index, he expects a higher zone at 45,825-45,975 levels and a strong sell zone at 46,050-46,175 levels. 

ANIL SINGHVI MARKET STRATEGY 

The market guru expects strong support and higher levels for the Nifty50 and the Nifty Bank at 21,525-21,625 and 21,950-22,050, and 44,850-45,050 and 46,000-46,200 levels, respectively, amid mixed global signals and narrowing FII outflows. He expects significant moves only once the indices break out of these ranges on either side. 

He points out that Friday's recovery on Dalal Street brought much relief to investors.   

Singhvi suggests mild profit-taking at higher levels in midcap, smallcap and PSU stocks that have gained in the recent upmove in the market. 

  • FII index longs at 34 per cent vs 33 per cent the previous day
  • Nifty put-call ratio (PCR) unchanged at 1.00
  • Nifty Bank PCR at 0.88 vs 0.61
  • Volatility index India VIX down 2.5% at 15.45

For existing long positions:

  • Nifty intraday stop loss at 21,625 and closing stop loss at 21,700
  • Nifty Bank intraday stop loss at 45,400 and closing stop loss at 45,000

For existing short positions:

  • Nifty intraday stop loss at 21,850 and closing stop loss at 21,950
  • Nifty Bank intraday stop loss at 45,725 and closing stop loss at 46,000

For new positions in Nifty:

  • Buy Nifty with a stop loss at 21,625 for targets of 21,825, 21,850, 21,925, 21,950, 22,000 and 22,050
  • Aggressive traders can sell Nifty in the 21,850-21,950 range with a strict stop loss at 22,050 for targets of 21,800, 21,750, 21,725, 21,700, 21,665 and 21,625

For new positions in Nifty Bank:

  • Buy Nifty Bank with a stop loss at 45,400 for targets of 45,725, 45,825, 45,900, 45,975, 46,050, 46,175 and 46,300
  • Aggressive traders can sell Nifty Bank in the 45,900-46,175 range with a strict stop loss at 46,300 for targets of 45,825, 45,725, 45,650 and 45,525

F&O ban update

  • New in ban: Zee Entertainment Enterprises
  • Out of ban: NALCO
  • Already in ban: Aurobindo Pharma, Biocon, PNB, Balrampur Chini, Delta Corp, SAIL, Ashok Leyland, UPL, Hindustan Copper, India Cements, Indus Towers

RESULTS REVIEWS

Bandhan Bank 

  • Weak results continue 
  • Improvement in asset quality
  • Bandhan Bank futures have support at Rs 208 and Rs 210 levels; a higher level at Rs 223

ONGC 

  • Results a mixed bag
  • ONGC futures have support at Rs 252 and a higher level at Rs 275

Hero MotoCorp 

  • Results strong
  • Stock up 57 per cent in three months
  • Hero MotoCorp futures have support at Rs 4,800 and a higher level at Rs 5,080

Stocks of the day

Sell Divi’s Labs futures with a stop loss at Rs 3,700 for targets of Rs 3,600, Rs 3,560 and Rs 3,500

  • Results weakest among pharma heavyweights

Buy PI Industries futures with a stop loss at Rs 3,450 for targets of Rs 3,540, Rs 3,575 and Rs 3,600

  • Results strongest in the whole sector
  • Outlook remains positive

Buy Dr Reddy's shares with a stop loss at Rs 6,060 for targets of Rs 6,250 and Rs 6,340

  • The company has received an EIR for its Bachupalli unit in Hyderabad

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