Anil Singhvis Strategy February 26: Metals, Auto, Aviation, Banks Sectors are Negative; Sell Bank Nifty Cash with a Stop loss 30,600
At the stocks markets, the Sensex and Nifty 50 closed in a red on Tuesday, February 25, 2020. The Sensex at the Bombay Stock Exchange fell 82.03 points, or 0.20 per cent, to end at 40,281.20. The Nifty at the National Stock exchange dropped 31.50 points, or 0.27 per cent, to 11,797.90, while Bank Nifty gained 22.40 points, or 0.04 per cent, to settle at 30,433.70.
Amid positive domestic institutional investors (DIIs), neutral futures & options (F&O) and negative global markets, foreign institutional investors (FIIs) and sentiment cues, the short-term trend of the Indian stock markets will be neutral on Wednesday, February 26, 2020.
At the stocks markets, the Sensex and Nifty 50 closed in a red on Tuesday, February 25, 2020. The Sensex at the Bombay Stock Exchange fell 82.03 points, or 0.20 per cent, to end at 40,281.20. The Nifty at the National Stock exchange dropped 31.50 points, or 0.27 per cent, to 11,797.90, while Bank Nifty gained 22.40 points, or 0.04 per cent, to settle at 30,433.70.
Zee Business's Managing Editor Anil Singhvi's Market Strategy for February 26:
Budget day lows Nifty 11,625-11,675 and Bank Nifty 29,625-29,825 are next strong support zone.
Strong selling zone on Nifty is 11,900-12,000 and Bank Nifty is 30,600-30,700.
The small day range for trading on Nifty is 11,700-11,800, while the medium and bigger ranges are 11,675-11,825 and 11,625-11,900 respectively.
The small day range for trading on Bank Nifty is 30,000-30,500, while the medium and bigger ranges are 29,825-30,600 and 29,750-30,700 respectively.
For Existing Long Positions:
Nifty intraday and closing stop loss 11,775
Bank Nifty intraday and closing stop loss 30,400
For Existing Short Positions:
Nifty intraday and closing stop loss 11,830.
Bank Nifty intraday and closing stop loss 30,600.
For New Positions:
Sell Nifty with a stop loss of 11,830 and target 11,700, 11,675, 11,625.
Buy Nifty in 11,600-11,650 range with a stop loss of 11,575 and target 11,675, 11,700, 11,775.
Sell Bank Nifty with a stop loss of 30,600 and target 30,100, 30,000, 29,850, 29,625.
Buy Bank Nifty in 29,750-29,850 range with a stop loss of 29,600 and target 30,000, 30,100, 30,250.
Put-Call Ratio (PCR) is 1.06. The Volatility Index (VIX) is 16.90.
Already in F&O Ban: Yes Bank
Sectors: Metals, Auto, Aviation, Banks
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Stock of the Day:
Sell Bank Nifty Cash: Stop loss 30,600 and target 30,250, 30,050, 30,000, 29,850, 29,750.
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