Anil Singhvi strategy February 5: 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 21,725-21,800 levels and a strong base at 21,650-21,700 levels on Monday, February 5.

For the Nifty Bank, he expects support to come in at 45,550-45,675 levels and a strong support zone at 45,075-45,200 levels.

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

• Global: Positive

• FII: Positive

• DII: Positive

• F&O: Neutral

• Sentiment: Positive

• Trend: Positive

Singhvi expects a higher zone for the Nifty50 at 21,900-21,975 levels and a strong sell zone at 22,000-22,125 levels. 

For the banking index, he expects a higher zone at 46,175-46,300 levels and a strong sell zone at 46,475-46,575 levels. 

ANIL SINGHVI MARKET STRATEGY 

The market wizard expects the market to stage see-saw moves and suggests traders take bets contrarian to the trend. One may focus on the Nifty50 fo strength and on Nifty Bank for weakness. 

Singhvi recommends focusing on stock- and sector-specific action on Dalal Street. 

• FII index longs at 33 per cent vs 31 per cent the previous day
• Nifty put-call ratio (PCR) unchanged at 1.02
• Nifty Bank PCR at 0.74 vs 0.79
• Volatility index India VIX up two per cent at 14.7 

For existing long positions:

• Nifty intraday stop loss at 21,800 and closing stop loss at 21,700

• Nifty Bank intraday stop loss at 45,900 and closing stop loss at 45,650

For existing short positions:

• Nifty intraday and closing stop loss at 22,000

• Nifty Bank intraday and closing stop loss at 46,325

For new positions in Nifty:

• Buy Nifty in the 21,700-21,800 range with a stop loss at 21,625 for targets of 21,825, 21,850, 21,900, 21,925, 21,975 and 22,000

• Sell Nifty in the 21,925-22,025 range with a stop loss at 22,125 for targets of 21,850, 21,825, 21,800, 21,750, 21,725 and 21,700

For new positions in Nifty Bank:

• Sell Nifty Bank in the 46,175-46,300 range with a stop loss at 46,500 for targets of 46,075, 46,025, 45,900, 45,725 and 45,675

• Aggressive traders can sell Nifty Bank with a strict stop loss at 46,300 for targets of 45,725, 45,675, 45,550, 45,450, 45,375, 45,200, 45,125 and 45,075

• Aggressive traders can buy Nifty Bank in the 45,450-45,675 range with a strict stop loss at 45,200 for targets of 45,725, 45,900, 45,975, 46,175 and 46,300

F&O ban update

• New in ban: Hindustan Copper

• Already in ban: India Cements, Indus Towers, SAIL, Zee Entertainment Enterprises

• Out of ban: None

SBI Results Review

SBI futures have support at Rs 620 and a higher level at Rs 665

• Strong loan growth
• Management expects stable NIMs
• Huge provisioning for wages and pension

Stocks of the day

UPL 

Sell UPL futures with a stop loss at Rs 544 for targets of Rs 515, Rs 500 and Rs 485

• Disaster results

InterGlobe Aviation (IndiGo)

Buy Interglobe futures with a stop loss at Rs 3,080 for targets of Rs 3,200 and Rs 3,250

• Strong results

Tata Motors 

Buy Tata Motors futures with a stop loss at Rs 870 for targets of Rs 930, Rs 970 and Rs 1,000

• Extraordinary excellent results
• Very strong outlook
• Huge debt reduction

India Glycols

Buy India Glycols shares with a stop loss at Rs 920 for targets of Rs 965 and Rs 982

Delhivery

Buy Delhivery shares with a stop loss at Rs 463 for targets of Rs 484 and Rs 492

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