Anil Singhvi strategy February 9: 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 21,550-21,650 levels and a strong buy zone at 21,450-21,525 levels on Friday, February 9.

For the Nifty Bank, he expects support to come in at 44,850 levels and a strong base at 44,425-44,500 levels.

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

• Global: Positive

• FII: Negative

• DII: Positive

• F&O: Neutral

• Sentiment: Neutral

• Trend: Positive

The market wizard expects a higher zone for the Nifty50 at 21,800-21,850 and a strong sell zone at 21,900-21,975 levels. 

For the banking index, he expects a higher zone at 45,375-45,525 levels and a profit-booking zone at 45,325-45,625 levels. 

ANIL SINGHVI MARKET STRATEGY 

• FII index longs at 33 per cent vs 34 per cent the previous day
• Nifty put-call ratio (PCR) unchanged at 1.00
• Nifty Bank PCR at 0.61 vs 0.86
• Volatility index India VIX up two per cent at 15.83

For existing long positions:

• Nifty intraday and closing stop loss at 21,650

• Nifty Bank intraday and closing stop loss at 44,850

For existing short positions:

• Nifty intraday stop loss at 21,850 and closing stop loss at 21,950

• Nifty Bank intraday stop loss at 45,525 and closing stop loss at 45,700

For new positions in Nifty:

• Buy Nifty in the 21,550-21,650 range with a stop loss at 21,425 for targets of 21,700, 21,750, 21,775, 21,800 and 21,850

  Sell Nifty in the 21,800-21,900 range with a stop loss at 22,000 for targets of 21,750, 21,725, 21,700, 21,665 and 21,625

For new positions in Nifty Bank:

• Aggressive traders can buy Nifty Bank in the 44,425-44,525 range with a strict stop loss at 44,350 for targets of 44,850, 45,000, 45,125, 45,200, 45,375 and 45,425

• Aggressive traders can sell Nifty Bank in the 45,500-45,700 range with a strict stop loss at 46,000 for targets of 45,375, 45,200, 45,125, 45,025, 44,900, 44,525 and 44,425

F&O ban update

• New in ban: Aurobindo Pharma, Biocon, PNB

• Out of ban: Zee Entertainment Enterprises

• Already in ban: Balrampur Chini, Delta Corp, SAIL, Ashok Leyland, UPL, NALCO, Hindustan Copper, India Cements, Indus Towers

RESULTS REVIEWS

Biocon 

• Results below estimates
• Operational performance weak
• Sell Biocon futures
• Futures have support at Rs 278 and Rs 272 levels; higher levels at Rs 292 and Rs 295

Aarti Industries 

• Results weak but not as bad as other chemical companies
• Stock may recover if it makes a big gap-down opening 
• Aarti Industries futures have support at Rs 610 and a higher level at Rs 665

Stocks of the day

Sell Ramco Cement futures with a stop loss at Rs 992 for targets of Rs 961 and Rs 945

• Results weakest in sector

Buy Orchid Pharma shares with a stop loss at Rs 870 for targets of Rs 900, Rs 915 and Rs 930

• Strong all-round performance

Buy Shilpa Medicare shares with a stop loss at Rs 375 for targets of Rs 392 and Rs 398

• Results strong 
• Company moves to profitability 
• Strong operational performance

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