Anil Singhvi strategy February 27: Important levels to track in Nifty50, Nifty Bank today
Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi shares his strategy for today's 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 strategy February 27: Important levels to track in Nifty50, Nifty Bank today](https://cdn.zeebiz.com/sites/default/files/2024/02/27/282109-anil-singhvi-2.jpg?im=FitAndFill=(1200,900))
Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty50 index emerging at 22,000-22,075 levels and a strong buy zone at 21,875-21,950 levels on Tuesday, February 27.
For the Nifty Bank, he expects support to come in at 46,275-46,425 levels and a strong buy zone at 46,050-46,225 levels.
Here's how Anil Singhvi sums up the market setup:
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Global: Neutral
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FII: Positive
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DII: Neutral
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F&O: Neutral
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Sentiment: Positive
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Trend: Positive
The market wizard expects a higher zone for the 50-scrip index at 22,200-22,250 levels and a "blue-sky" zone above 22,300.
For the banking index, he sees a higher zone emerging at 46,800-46,900 and a strong sell zone at 47,000-47,150 levels.
ANIL SINGHVI MARKET STRATEGY
The market guru expects see-saw moves to continue in the market within a narrow range. He believes buying may continue in the Nifty50 as long as holds the 22,000 mark on a closing basis and a strong move once it crosses 22,225.
Singhvi points out that important support for the banking index exists at 46,200-46,400 and resistance at 47,000-47,200.
He suggests investors remain selective in midcap and smallcap stocks.
किस लेवल के नीचे बंद होने पर होगी चिंता?
किस लेवल के ऊपर निफ्टी पकड़ेगा रफ्तार?
Mid-Smallcap Stocks में पैसा धीमे और कम क्यों बनेगा?
Overnight Position कब करें कम?https://t.co/pjupKcLryy
— CA Anil Singhvi Zee Business (@AnilSinghvi_) February 27, 2024
- FII index longs at 45 per cent vs 44 per cent the previous day
- Nifty put-call ratio (PCR) at 0.97 vs 1.02
- Nifty Bank PCR at 0.74 vs 0.81
- Volatility index India VIX up four per cent at 15.6
For existing long positions:
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Nifty intraday and closing stop loss at 22,000
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Nifty Bank intraday and closing stop loss at 46,375
For existing short positions:
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Nifty intraday and closing stop loss at 22,300
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Nifty Bank intraday stop loss at 46,825 and closing stop loss at 47,100
For new positions in Nifty:
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The best range to buy Nifty is 22,000-22,075 with a stop loss at 21,875 for targets of 22,125, 22,185, 22,215, 22,250 and 22,290
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Aggressive traders can sell Nifty in the 22,200-22,300 range with a strict stop loss at 22,350 for targets of 22,125, 22,075, 22,050, 22,025, 22,000 and 21,950
For new positions in Nifty Bank:
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The best range to buy Nifty Bank is 46,225-46,425 with a stop loss at 46,000 for targets of 46,500, 46,575, 46,725, 46,800, 46,875 and 46,975
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The best range to sell Nifty Bank is 46,800-46,975 with a stop loss at 47,100 for targets of 46,725, 46,600, 46,525, 46,425, 46,375 and 46,275
F&O ban update
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Out of ban: Piramal Enterprises, PVR Inox, RBL Bank, Biocon, Hindustan Copper, GMR Airports, GNFC, Ashok Leyland
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Already in ban: Canara Bank, AB Fashion, SAIL, Balrampur Chini, Zee Entertainment Enterprises
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New in ban: None
Stocks of the day
Sell Dixon futures with a stop loss at Rs 7,100 for targets of Rs 6,850, Rs 6,755 and Rs 6,625
- Jefferies has downgraded to 'underperform' from 'hold' and lowered target to Rs 5,920 from Rs 6,440
Buy Canara Bank shares in the cash segment with a stop loss at Rs 560 for targets of Rs 584, Rs 588 and Rs 594
- The board has approved a 5:1 stock split
Buy TCS futures with a stop loss at Rs 3,950 for targets of Rs 4,040 and Rs 4,070
- UBS has upgraded to buy and raised target to Rs 4,700 from Rs 4,050
Buy Havells India futures with a stop loss at Rs 1,410 for targets of Rs 1,445 and Rs 1,465
- Goldman Sachs has double-upgraded to 'buy' from 'neutral' and raised target to Rs 1,660 from Rs 1,540
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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