Anil Singhvi strategy February 13: Important levels to track in Nifty50, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty50 index emerging at 21,500-21,575 levels and a strong buy zone at 21,350-21,450 levels on Tuesday, February 13.

For the Nifty Bank, he expects support to come in at 44,425-44,525 levels and a strong support zone at 44,000-44,150 levels.

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

• Global: Positive

• FII: Neutral

• DII: Positive

• F&O: Positive

• Sentiment: Negative

• Trend: Positive

The market wizard expects a higher zone for the Nifty50 at 21,675-21,775 levels and a strong sell zone at 21,800-21,850 levels. 

For the banking index, he expects a higher zone at 45,050-45,200 levels and a strong sell zone at 45,500-45,700 levels. 

ANIL SINGHVI MARKET STRATEGY 

• FII index longs unchanged at 34 per cent as the previous day
• Nifty put-call ratio (PCR) at 0.85 vs 1.00
• Nifty Bank PCR oversold at 0.58 vs 0.88; short covering expected from lower levels
• Volatility index India VIX up four per cent at 16.06

For existing long positions:

• Nifty intraday and closing stop loss at 21,550

• Nifty Bank intraday and closing stop loss at 45,400

For existing short positions:

• Nifty intraday and closing stop loss at 21,850

• Nifty Bank intraday stop loss at 45,050 and closing stop loss at 45,750

For new positions in Nifty:

• The best range to buy Nifty is 21,450-21,550 with a stop loss at 21,350 for targets of 21,615, 21,665, 21,700, 21,725, 21,775 and 21,800

• The best range to sell Nifty is 21,700-21,800 with a stop loss at 21,850 for targets of 21,650, 21,625, 21,575, 21,550, 21,500 and 21,450

For new positions in Nifty Bank:

• The best range to buy Nifty Bank is 44,425-44,525 with a stop loss at 44,350 for targets of 44,625, 44,850, 44,900, 45,000, 45,075 and 45,200

• Aggressive traders can buy Nifty Bank with a strict stop loss at 44,400 for targets of 45,000, 45,200, 45,425, 45,500, 45,625 and 45,700

• Sell Nifty Bank in the 45,500-45,700 range with a stop loss at 45,850 for targets of 45,375, 45,200, 45,025, 44,900, 44,650 and 44,525

F&O ban update

• New in ban: Bandhan Bank, AB Fashion

• Out of ban: UPL

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

RESULTS REVIEWS

SAIL 

SAIL Futures:
Results below estimates
Operationally very weak performance
Stock fell 8% yesterday, still 40% up in 3 months
Support level 111 & 115, Higher level 129

Coal India 

Coal India Futures:
Very strong results
Stock fell 5% yesterday, still 40% up in 3 months
Profit booking expected at higher levels
Support level 420, Higher level 439 & 446

Stock of the day

• Support for Tilaknagar Industries shares exists at Rs 232; higher levels at Rs 255 and Rs 265
• Strong performance continues
• Stock down 8.0 per cent in three months
• Adjusted profit at Rs 44 crore vs Rs 25 crore 
• Operational performance strong 

Should you subscribe to the Entero Healthcare IPO?

The market guru suggests investors wait for the listing for more clarity. While it is better to buy post-listing, high risk-taking investors investors ready to see a little downside can apply for the issue from a long-term perspective, he adds. 

Singhvi points out the following key points about the IPO: 

Positive

• New-age startup 
• Fastest-growing healthcare distributor
• Strong Pan-India presence
• Company became profitable this year

Negative

• Cash flows negative 
• Higher working capital requirement and debt
• Company making losses for the past three years

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