Anil Singhvi’s Strategy February 18: Metals, Auto & NBFC Sectors are Negative; Sell JSPL Futures with Stop Loss 192
Anil Singhvi’s Strategy February 18: On account of neutral DIIs and F&O, negative FIIs, the short-term trend of the Indian stock markets will be positive.
Anil Singhvi’s Strategy February 18: Amid neutral domestic institutional investors (DIIs) and futures & options (F&O) and negative global markets, foreign institutional investors (FIIs) and Sentiments cues, the short-term trend of the Indian stock markets will be positive on Tuesday, February 18, 2020.
Domestic benchmark indices started the week on a weak note on Monday, February 17, 2020, amid weakness in global markets. Sentiment took a hit after Moody's cut 2021 GDP growth forecast to 5.8% from 6.7% earlier. The Sensex at the Bombay Stock Exchange declined 202.05 points, or 0.49%, close at 41,055.69. The Nifty at the National Stock Exchange lost 67.65 points, or 0.56%, to end at 12,045.80. Likewise, Bank Nifty went down 154.10 points, or 0.50%, to 30,680.70.
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In the broader market, the BSE Mid-cap Index fell 0.9 per cent and the Small Cap index shed nearly one per cent.
Zee Business's Managing Editor Anil Singhvi's Market Strategy for February 18:
Intraday important support on Nifty is 11,950-12,000 and Bank Nifty is 30,500. Below it, big down risk opens up till budget day lows.
Next BIG support zone on Nifty is 11,750-11,800 and Bank Nifty is 30,000-30,200.
The small day range for trading on Nifty is 12,000-12,100, while the medium and bigger ranges are 11,950-12,150 and 11,800-12,200.
The small day range for trading on Bank Nifty is 30,500-30,800, while the medium and bigger ranges are 30,200-31,000 and 30,100-31,200.
For Existing Long Positions:
Nifty intraday and closing stop loss 12,000.
Bank Nifty intraday and closing stop loss 30,500.
For Existing Short Positions:
Nifty intraday and closing stop loss 12,200.
Bank Nifty intraday and closing stop loss 31,050.
For New Positions:
Sell Nifty with a stop loss of 12,100 and target 12,000, 11,950.
Buy Nifty in 11,950-11,975 range with a stop loss of 11,925 and target 12,000, 12,025, 12,050, 12,100.
Sell Bank Nifty with a stop loss of 30,850 and target 30,600, 30,500, 30,200.
Buy Bank Nifty near 30,500 with a stop loss of 30,450 and target Tgt 30600, 30675, 30750, 30850.
Put-Call Ratio (PCR) is 1.14. The volatility index (VIX) is 14.42.
Enters F&O Ban: NCC
Out of Ban: Yes Bank
Negative: Metals, Auto, NBFCs
Stock of the Day:
Sell JSPL Futures: Stop loss 192 and target 185, 183. Metals stocks weak due to global concerns.
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