Anil Singhvi strategy February 28: 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 22,075-22,125 levels and a strong buy zone at 21,975-22,050 levels on Wednesday, February 28. For the Nifty Bank, he expects support to come in at 46,175-46,325 levels and a strong buy zone at 45,900-46,050 levels.

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

• Global: Neutral

• FII: Neutral

• DII: Positive

• F&O: Neutral

• Sentiment: Positive

• Trend: Positive

The market wizard expects a higher zone for the 50-scrip index at 22,250-22,300 levels and a "blue-sky" zone above 22,350. 

For the banking index, he sees a higher zone emerging at 46,725-46,875 levels and a strong sell zone at 46,975-47,100 levels. 

ANIL SINGHVI MARKET STRATEGY 

The market wizard expects Dalal Street to see see-saw moves within a narrow range, with the Nifty50 seen consolidating in the 22,000-22,300 range. The market may continue to lean towards buying as long as the index holds the 22,000 mark on a closing basis, and one can expect strong moves in once it takes out 22,300, he says. 

Singhvi views the 46,050-46,225 band as important support for the banking index, which faces stiff resistance at 46,900-47,100 levels. 

He suggests investors continue to take selective bets in midcap and smallcap stocks.

Range-Bound Market में ऊपर में Profit Book करें, नीचे में खरीदें 

March में क्यों है Sentimental Correction? 

Understand This New Term #nifty50 #StockMarketindia #StockMarket https://t.co/KSjEYzFShP

— CA Anil Singhvi Zee Business (@AnilSinghvi_) February 28, 2024

• FII index long at 46 per cent vs 45 per cent the previous day
• Nifty put-call ratio (PCR) at 1.00 vs 0.97
• Nifty Bank PCR at 0.80 vs 0.74
• Volatility index India VIX up one per cent at 15.73

For existing long positions:

• Nifty intraday and closing stop loss at 22,000

• Nifty Bank intraday and closing stop loss at 46300

For existing short positions:

• Nifty intraday and closing stop loss at 22,300

• Nifty Bank intraday stop loss at 46,750 and closing stop loss at 47,000

For new positions in Nifty:

• The best range to buy Nifty is 22,075-22,125 with a stop loss at 21,975 for targets of 22,200, 22,215, 22,250 and 22,300

• Aggressive traders can sell Nifty in the 22,250-22,300 range with a strict stop loss at 22,350 for targets of 22,220, 22,200, 22,125, 22,075, 22,050 and 22,000

For new positions in Nifty Bank:

• The best range to buy Nifty Bank is 46,175-46,325 with a stop loss at 45,975 for targets of 46,425, 46,500, 46,575, 46,725, 46,800 and 46,875

• 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 46,325

F&O ban update

• New in ban: Indus Towers

• Out of ban: Balrampur Chini

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

Stocks of the day

Sell Vodafone Idea futures with a stop loss at Rs 16.40 for targets of R s15.50, Rs 15.25 and Rs 15

• Huge fund-raising plan
• Big equity dilution
• Company will be under huge debt again

Buy CMS Infosystems shares with a stop loss at Rs 370 for targets of Rs 398, Rs 405 and Rs 410

• Selling pressure over from promoter
• Big funds bought in block deal

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