Anil Singhvi strategy February 20: Important levels to track in Nifty50, Nifty Bank today
Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi shares his strategy for todays session on Dalal Street. Check out his take on key support and resistance levels for the Nifty and the Nifty Bank, and how he views the market.
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
Catch the latest stock market updates here. For all other news related to business, politics, tech and auto, visit Zeebiz.com.
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