Anil Singhvi strategy February 14: 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 Wednesday, February 14.

For the Nifty Bank, he expects support to come in at 44,825-45,025 levels and a strong buy zone at 44,425-44,625 levels.

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

• Global: Negative

• FII: Positive

• DII: Neutral

• F&O: Neutral

• Sentiment: Cautious

• Trend: Positive

The market wizard expects a higher zone for the Nifty50 coming in at 21,725-21,825 levels. 

For the banking index, he expects a higher zone at 45,500-45,625 levels and a strong sell zone at 45,750-45,900 levels. 

ANIL SINGHVI MARKET STRATEGY 

The market wizard expects mixed moves in domestic as well as global markets, following volatility for four back-to-back sessions.  

Singhvi sees intraday moves to the tune of 1,000 and 600 points in the Nifty50 and the Nifty Bank during the course of the day. 

He also points out that mild buying by FIIs and DIIs continues on Dalal Street. 

• FII index longs at 35 per cent vs 34 per cent the previous day
• Nifty put-call ratio (PCR) at 0.99 vs 0.85
• Nifty Bank PCR at 0.97 vs 0.58
• Volatility index India VIX down 1.5 per cent at 15.81

For existing long positions:

• Nifty intraday and closing stop loss at 21,500

• Nifty Bank intraday and closing stop loss at 44,800

For existing short positions:

• Nifty intraday and closing stop loss at 21,850

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

For new positions in Nifty:

• Sell Nifty with a stop loss at 21,850 for targets of 21,650, 21,625, 21,575, 21,550, 21,500 and 21,450

• Buy Nifty in the 21,450-21,550 range with a stop loss at 21,350 for targets of 21,615, 21,665, 21,700, 21,725 and 21,750

For new positions in Nifty Bank:

• Sell Nifty Bank with a stop loss at 45,750 for targets of 45,200, 45,025, 44,900, 44,825, 44,650, 44,525 and 44,425

• Buy Nifty Bank in the 44,425-44,625 range with a stop loss at 44,350 for targets of 44,800, 44,875, 44,975 and 45,050

• Aggressive traders can buy Nifty Bank in the 44,825-45,025 range with a strict stop loss at 44,750 for targets of 45,200, 45,425, 45,500, 45,625 and 45,750

What to trade today?

The market guru suggests the following: 

• One should trim intraday and overnight positions 
• See-saw moves may continue till the expiry of monthly Nifty derivatives due on Thursday
• Traders should be patient and wait for key support and resistance levels
• They may consider contrarian trades in small quantities 
• Possibility of the Nifty Bank forming a double-bottom in the 44,425-44,625 range
• Book profits in PSU, midcap, smallcap, banking stocks
• IT and pharma spaces suitable for buying

F&O ban update

• New in ban: NALCO

• Out of ban: Hindustan Copper

• Already in ban: Bandhan Bank, AB Fashion, Zee Entertainment Enterprises, Auro Pharma, Biocon, PNB, Balrampur Chini, Delta Corp, SAIL, Ashok Leyland, India Cements, Indus Towers

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