Anil Singhvi strategy February 29: 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 21,850-21,900 levels and a strong buy zone at 21,750-21,800 levels on Thursday, February 29.
For the Nifty Bank, he expects support to come in at 45,625-45,850 levels and a stronger support zone at 45,375-45,525 levels.
Here's how Anil Singhvi sums up the market setup:
- Global: Neutral
- FII: Negative
- DII: Positive
- F&O: Neutral
- Sentiment: Neutral
- Trend: Positive
The market wizard expects a higher zone for the 50-scrip index at 22,000-22,075 levels and a strong sell zone at 22,125-22,200 levels.
For the banking index, he sees a higher zone emerging at 46,175-46,325 levels and a strong sell zone at 46,375-46,575 levels.
ANIL SINGHVI MARKET STRATEGY
The market wizard expects volatility to persist on Dalal Street ahead of the expiry of monthly derivative contracts, due by the end of the session, with profit-taking at the first bounceback. He believes that while 22,000 will be a make-or-break for the headline index, strong support will come in at 21,800-21,875.
He points out that the banking index is relatively weaker than the Nifty50 at the current juncture.
Singhvi suggests investors maintain light positions in midcap and smallcap stocks.
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