Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support to emerge at 22,700-22,825 levels and a stronger support zone at 22,500-22,600 levels for the headline Nifty50 index on Tuesday, February 18. For the Nifty Bank, he expects support at 48,525-48,725 levels and a stronger support zone at 48,275-48,400 levels.
Here’s how the market guru sums up the trade setup this morning:
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Global: Neutral
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FII: Negative
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DII: Positive
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F&O: Neutral
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Sentiment: Cautious
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Trend: Negative
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FII long positions unchanged at 16 per cent as before the previous session
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Nifty put-call ratio (PCR) at 0.87 vs 0.77
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Nifty Bank PCR at 0.75 vs 0.68
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India VIX up five per cent at 15.72
The market wizard sees a higher zone at 23,025-23,150 levels and a strong sell zone at 23,200-23,300 levels for the headline index.
For the banking index, he sees a higher zone at 49,575-49,750 levels and a strong sell zone at 49,825-49,975 levels.
ANIL SINGHVI MARKET STRATEGY
For existing long positions:
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Nifty intraday stop loss at 22,700 and closing stop loss at 22,825
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Nifty Bank intraday and closing stop loss at 49,000
For existing short positions:
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Nifty intraday and closing stop loss at 23,050
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Nifty Bank intraday and closing stop loss at 49,600
For new positions in Nifty50:
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The best range to buy Nifty is 22,725-22,825 with a stop loss at 22650 for targets of 22,925, 22,950, 22,975, 23,025, 23,075 and 23,125
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Aggressive traders can buy Nifty with a strict stop loss at 22,700 for targets of 23,075, 23,125, 23,200, 23,225, 23,265 and 23,300
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Aggressive traders can sell Nifty in 23125-23250 range with a strict stop loss at 23,300 for targets of 23,075, 23,025, 22,975, 22,925, 22,825 and 22,775
For new positions in Nifty Bank:
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The best range to buy Nifty Bank is 48,525-48,725 with a stop loss at 48,400 for targets of 49,000, 49,100, 49,175, 49,250, 49,325 and 49,400
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Aggressive traders can buy Nifty Bank with a strict stop loss at 48,950 for targets of 49,400, 49,475, 49,575, 49,700, 49,825 and 49,900
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Aggressive traders can sell Nifty Bank in the 49,700-49,900 range with a strict stop loss at 50,000 for targets of 49,575, 49,500, 49,400, 49,300, 49,175 and 49,100
F&O Ban Update
- New in ban: Manappuram Finance
- Already in ban: Deepak Nitrite
- Out of ban: None
RESULTS REVIEW
ABB
- Results better than expectations
- Strong operational performance
- Stock down 20 per cent in a month
- Buy futures for targets of Rs 5,385, Rs 5,410 and Rs 5,460 with a stop loss at Rs 5,160
STOCKS OF THE DAY
Buy PCBL shares in the spot market for targets of Rs 376, Rs 380 and Rs 384 with a stop loss at Rs 365
- UBS has a target of Rs 600 for the stock (February 15 report)
Buy SBI Card shares for targets of Rs 860, Rs 866 and Rs 875 with a stop loss at Rs 845
- The stock is in a strong uptrend in a weak market
- It is up seven per cent in five sessions
- Salila Pande’s appointment is positive
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