Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty50 index emerging at 21,800-21,850 levels and a strong buy zone at 21,725-21,775 levels on Friday, February 16.

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For the Nifty Bank, he expects support to come in at 45,825-46,000  levels and a strong buy zone at 45,525-45,725 levels.

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

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

The market wizard expects a higher zone for the Nifty50 coming in at 21,950-22,000 levels and a strong sell zone at 22,050-22,125 levels. 

For the banking index, he expects a higher zone at 46,475-46,575 levels and a strong sell zone at 46,750-46,875 levels. 

ANIL SINGHVI MARKET STRATEGY 

The market guru points out that Dalal Street looks ready to reach the upper end of its recent range following a good closing of the Nifty Bank on Thursday. He expects a fresh breakout in the Nifty50 after the index takes out the 21,930 level on a closing basis.

Singhvi suggests booking profits in the Nifty and the Nifty Bank in the 22,000-22,150 and 46,750-46,975 ranges.

It is essential for funds to go long on the indices after their weekly expiry, as FIIs signalled profit-taking on Thursday.

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

  • FII index longs unchanged at 36 per cent as the previous day
  • Nifty PCR at 1.20 vs 1.24
  • Nifty Bank PCR at 1.13 vs 1.07
  • Volatility index India VIX down about one per cent at 15.23

For existing long positions:

  • Nifty Intraday stop loss at 21,775 and closing stop loss at 21,600
  • Nifty Bank intraday stop loss at 45,900 and closing stop loss at 45,500

For existing short positions:

  • Nifty intraday stop loss at 22,050 and closing stop loss at 21,950
  • Nifty Bank intraday and closing stop loss at 46,325

For new positions in Nifty:

  • The best range to buy Nifty is 21,800-21,850 with a stop loss at 21,700 for targets of 21,900, 21,925, 21,950, 22,000, 22,050 and 22,100
  • The best range to sell Nifty is 22,000-22,100 with a stop loss at 22,150 for targets of 21,950, 21,925, 21,875, 21,850, 21,825 and 21,800

For new positions in Nifty Bank:

  • The best range to buy Nifty Bank is 45,825-46,000 with a stop loss at 45,500 for targets of 46,175, 46,300, 46,475, 46,575, 46,750 and 46,850
  • The best range to sell Nifty Bank is 46,750-46,850 with a stop loss at 47,000 for targets of 46,575, 46,500, 46,300, 46,225, 46,175 and 46,050
  • Aggressive traders can sell Nifty Bank in the 46,475-46,575 range with a strict stop loss at 46,650 for targets of 46,300, 46,200, 46,050, 46,000, 45,925 and 45,825

F&O ban update

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

Stocks of the day

Buy Bank of India shares with a stop loss at Rs 140 for targets of Rs 146, Rs 148 and Rs 151

  • PSU banks ready for a strong rally

Buy SBI futures with a stop loss at Rs 755 for targets of Rs 770, Rs 776 and Rs 783

  • PSU banks ready for a strong rally
  • Still trading at attractive valuations

Sell Gujarat Gas futures with a stop loss at Rs 590 for targets of Rs 571, Rs 565 and Rs 560

  • Management conference call not impressive
  • Weak outlook for industrial segment growth
  • Demand for the ceramic industry negatively impacted due to the Red Sea crisis 

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