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.

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

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

Catch the latest stock market updates here. For all other news related to business, politics, tech and auto, visit Zeebiz.com.