Amid neutral global markets, domestic institutional investors (DIIs), futures & options (F&O) and negative foreign institutional investors (FIIs) cues, the short-term trend of the Indian stock markets will be positive on Monday, February 17, 2020, while Trend is Cautious.

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

Market benchmarks Sensex and Nifty dropped by almost half a percentage point on Friday, February 14, 2020. The market fell as banking shares tumbled following the Supreme Court taking a strong note of non-compliance of its order asking telcos to pay statutory dues.

The 30-share BSE Sensex fell by 202.05 points or 0.49 per cent to end at 41,257.74, with 22 of its constituents closing with losses. The broader NSE Nifty shed 61.20 points or 0.50 per cent to settle at 12,113.45. Likewise, Bank Nifty fell 395.45 points or 1.27 per cent to close at 30,834.80.

In the wider market, the BSE Mid-Cap index slipped 0.80 per cent, while the BSE Small-Cap index lost 0.4 per cent.

Zee Business's Managing Editor Anil Singhvi's Market Strategy for February 17:

The small day range for trading on Nifty is 12,050-12,150, while the medium and bigger ranges are 12,000-12,200 and 11,950-12,225.

The small day range for trading on Bank Nifty is 30,700-31,000, while the medium and bigger ranges are 30,600-31,200 and 30,500-31,300 respectively.

For Existing Long Positions:

Nifty intraday and closing stop loss 12,000.

Bank Nifty intraday and closing stop loss 30,750.

For Existing Short Positions:

Nifty intraday and closing stop loss 12,200.

Bank Nifty intraday and closing stop loss 31,050.

For New Positions:

Buy Nifty with a stop loss of 12,000 and target 12,135, 12,150, 12,175, 12,200.

Sell Nifty in near 12,200-12,250 range with a stop loss of 12,300 and target 12,175, 12,150, 12,100.

Buy Bank Nifty with a stop loss of 30,600 and target 31,000, 31,100, 31,200, 31,300.

Sell Bank Nifty in 31,200-31,300 range with a stop loss of 31,400 and target 31,200, 31,100, 31,050, 31,000.

Put-Call Ratio (PCR) is 1.28. The volatility index (VIX) is 13.62.

Still In F&O Ban: Yes Bank

Sectors:

Positive: Pharma

Watch Zee Business live TV below:

Stock of the Day:

Buy Balkrishna Futures: Stop loss 1150 and target 1180, 1190. Strong operational results.