Anil Singhvi strategy February 27: 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 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:

• Global: Neutral

• FII: Positive

• DII: Neutral

• F&O: Neutral

• Sentiment: Positive

• 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:

• Nifty intraday and closing stop loss at 22,000

• Nifty Bank intraday and closing stop loss at 46,375

For existing short positions:

• Nifty intraday and closing stop loss at 22,300

• Nifty Bank intraday stop loss at 46,825 and closing stop loss at 47,100

For new positions in Nifty:

• 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

• 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:

• 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

• 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

• Out of ban: Piramal Enterprises, PVR Inox, RBL Bank, Biocon, Hindustan Copper, GMR Airports, GNFC, Ashok Leyland

• Already in ban: Canara Bank, AB Fashion, SAIL, Balrampur Chini, Zee Entertainment Enterprises

• 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

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