Anil Singhvi strategy February 15: 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 21,725-21,775 levels and a strong buy zone at 21,575-21,675 levels on Thursday, February 15.

For the Nifty Bank, he expects support to come in at 45,525-45,725 levels and a strong buy zone at 44,875-45,025 levels.

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

• Global: Positive

• FII: Neutral

• DII: Neutral

• F&O: Neutral

• Sentiment: Positive

• Trend: Positive

The market wizard expects a higher zone for the Nifty50 coming in at 21,925-22,000 levels and a strong sell zone at 22,025-22,125 levels. 

For the banking index, he expects a higher zone at 46,175-46,300 levels and a profit-booking zone at 46,475-46,575 levels. 

ANIL SINGHVI MARKET STRATEGY 

The market guru points out that Thursday's closing levels will be important to watch as the market has approached the upper end of its recent trading range. He expects significant breakouts once the Nifty50 and the Nifty Bank take out 21,930 and 46,200 levels on a closing basis, and suggests trimming positions otherwise.

The Nifty Bank does not have short covering-related support anymore, which makes Thursday's session a make-or-break day for the banking index, says Singhvi. 

He suggests investors adopt a 'buy on dips' strategy on midcap, smallcap, banking and PSU stocks. 

• FII index longs at 36 per cent vs 35 per cent the previous day
• Nifty put-call ratio (PCR) at 1.24 vs 0.99
• Nifty Bank PCR at 1.07 vs 0.97
• Volatility index India VIX down two per cent at 15.44

For existing long positions:

• Nifty intraday stop loss at 21,700 and closing stop loss at 21,600

• Nifty Bank intraday and closing stop loss at 45,500

For existing short positions:

• Nifty intraday stop loss at 22,000 and closing stop loss at 21,930

• Nifty Bank intraday and closing stop loss at 46,200

For new positions in Nifty:

• Buy Nifty with a stop loss at 21,700 for targets of 21,875, 21,925, 21,950, 22,000, 22,050 and 22,100

• The best range to sell Nifty is 21,925-22,025 with a stop loss at 22,125 for targets of 21,875, 21,850, 21,825, 21,800, 21,750 and 21,725

For new positions in Nifty Bank:

• The best range to buy Nifty Bank is 45,525-45,725 with a stop loss at 45,450 for targets of 45,900, 45,975, 46,050, 46,175, 46,300, 46,475 and 46,575

• The best range to sell Nifty Bank is 46,475-46,575 with a stop loss at 46,650 for targets of 46,200, 46,000, 45,925, 45,825, 45,725, 45,650 and 45,525

F&O ban update

• New in ban: Hindustan Copper

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

• Out of ban: None

RESULTS REVIEW

NMDC 

• Results above estimates
• Strong operational performance
• Stock up 35 per cent in three months
• Support for NMDC futures exists near Rs 225; higher levels at Rs 243 and Rs 248

Stocks of the day

Buy AB Fashion futures with a stop loss at Rs 238 for targets of Rs 249, Rs 254 and Rs 258

• Results in line with estimates
• Strong operational performance
• New business doing good
• Loss due to interest cost and depreciation
• Demand outlook in conference call at 3:30 pm

Buy Shriram Finance futures with a stop loss at Rs 2,350 for targets of Rs 2,430, Rs 2,450 and Rs 2,480

• PE funds interested in buying stake

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