Anil Singhvi strategy February 20: 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 21,975-22,050 levels and a strong buy zone at 21,850-21,950 levels on Tuesday, February 20.

For the Nifty Bank, he expects support to come in at 46,175-463,25 levels and a strong support zone at 45,900-46,050 levels.

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

• Global: Neutral

• FII: Negative

• DII: Positive

• F&O: Neutral

• Sentiment: Positive

• Trend: Positive

   

The market wizard expects a higher zone for the Nifty50 coming in at 22,175-22,225 levels and a "blue-sky zone" above 22,250. 

For the banking index, he expects a higher zone at 46,700-46,850 and a strong sell zone at 46,900-47,100 levels. 

ANIL SINGHVI MARKET STRATEGY 

• FII index longs at 39 per cent vs 38 per cent the previous day
• Nifty put-call ratio (PCR) at 1.25 vs 1.22
• Nifty Bank PCR at 1.14 vs 1.12
• Volatility index India VIX up five per cent at 16.02

For existing long positions:

• Nifty intraday and closing stop loss at 22,000

• Nifty Bank intraday stop loss at 46,000 and closing stop loss at 46,200

   

For existing short positions:

• Nifty intraday and closing stop loss at 22,225

• Nifty Bank intraday and closing stop loss at 46,750

   

For new positions in Nifty:

• The best range to buy Nifty is 21,950-22,050 with a stop loss at 21,850 for targets of 22,100, 22,125 and 22,175; above 22,225, one may hold the long long position with a trailing stop loss

• Aggressive traders can sell Nifty with a strict stop loss at 22,225 for targets of 22,050, 22,000, 21,975, 21,950 and 21,900

For new positions in Nifty Bank:

• The best range to buy Nifty Bank is 46,175-46,325 with a stop loss at 46,000 for targets of 46,400, 46,475, 46,525, 46,600 and 46,700

• Aggressive traders can sell Nifty Bank in the 46,700-46,850 range with a strict stop loss at 47,000 for targets of 46,600, 46,525, 46,400, 46,325, 46,250 and 46,175

F&O ban update

• New in ban: Biocon

• Out of ban: Balrampur Chini, Delta Corp

• Already in ban: NALCO, Canara Bank, Hindustan Copper, Bandhan Bank, Zee Entertainment Enterprises, India Cements, Indus Towers, AB Fashion, SAIL, Ashok Leyland

   

Stock news

Whirlpool

• Promoter will sell 24 per cent stake
• Don’t adventure to buy after block deal
• Valuations will come down due to big floating stock

Kotak Mahindra Bank

• Announced organisational structure post change of management
• Most of old key persons retained slightly positive for bank

Stocks of the day

Buy Godrej Consumer futures with a stop loss at Rs 1,220 for targets of Rs 1,243, Rs 1,250 and Rs 1,260

• Company sells East Africa business
• Positive impact on profit and cash flow
• Market likes proper capital allocation

Buy Deepak Fertilisers shares with a stop loss at Rs 485 for targets of Rs 505, Rs 509 and Rs 514

• Company entered into long-term LNG supply with a Norway company for 15 years

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