Anil Singhvi's Market Strategy (Feb 12): Important levels to track in Nifty50, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support to emerge at 22,900-23,000 levels and a stronger support zone at 22,750-22,825 levels for the headline Nifty50 index on Wednesday, February 12. For the Nifty Bank, he expects support at 48,850-49,000 levels and a stronger support zone at 48,575-48,750 levels. 

Here's how the market guru sums up the trade setup this morning: 

• Global: Neutral

• FII: Negative

• DII: Positive

• F&O: Neutral

• Sentiment: Negative

• Trend: Neutral

• FII long positions at 14 per cent vs 15 per cent before the previous session

• Nifty put-call ratio (PCR) at 0.69 vs 0.75

• Nifty Bank PCR at 0.75 vs 0.83

• Volatility index India VIX up 3 per cent at 14.87

The market wizard sees a higher zone at 23,150-23,265 levels and a profit-booking zone at 23,300-23,400 levels for the headline index. 

For the banking index, he sees a higher zone at 49,675-49,875 levels and a profit-booking zone at 49,975-50,150 levels.  

ALSO READ: Dalal Street Week Ahead: Macro data, Q3 results, FII activity, global cues set to be in focus

How market guru Anil Singhvi views Dalal Street now 

The market wizard has highlighted the following points: 

• It is important that the Nifty 50 makes a double bottom near its January 27 low of 22,800

• A sustained move below 22,750 will highlight the risk of a fall all the way to 22,500 and 22,100 levels 

ANIL SINGHVI MARKET STRATEGY

For existing long positions: 

• Nifty intraday and closing stop loss at 22,975

• Nifty Bank intraday and closing stop loss at 49,000

For existing short positions:

• Nifty intraday and closing stop loss at 23,400

• Nifty Bank intraday and closing stop loss at 50,000

For new positions in Nifty50:

• The best range to buy Nifty is 22,800-23,000 with a stop loss at 22,700 for targets of 23,075, 23,150, 23,200, 23,265, 23,300 and 23,350

• Aggressive traders can sell Nifty in the 23,200-23,300 range with a strict stop loss at 23,400 for targets of 23,150, 23,075, 23,025, 22,975, 22,900 and 22,825

For new positions in Nifty Bank:

• The best range to buy Nifty Bank is 47,800-48,075 with a stop loss at 47,700 for targets of 48,300, 48,450, 48,575, 48,650, 48,750 and 48,900

• Aggressive traders buy Nifty Bank in the 48,575-48,750 range with a strict stop loss at 48,500 for targets of 48,900, 49,000, 49,175, 49,375, 49,500 and 49,675

• Aggressive traders can sell Nifty Bank in the 49,700-49,900 range with a strict stop loss at 50,000 for targets of 49,500, 49,400, 49,175, 49,000, 48,900 and 48,750

F&O Ban Update

• New in ban: Manappuram
• Already in ban: None
• Out of ban: None

RESULTS REVIEWS

Birlasoft 

• Results are a disaster 
• The company has staged another weak quarterly performance
• There is degrowth in revenue in constant currency terms
• This stock could be the accident of the day
• Sell Birlasoft futures for targets of Rs 495, Rs 480 and Rs 470 with a stop loss at Rs 510 

SAIL 

• Results better than estimates
• However, the outlook for metals is weak due to tariff war-related concerns
• Futures have support at Rs 97 and an expected higher level at Rs 104

IRCTC

• IRCTC results are better than expectations
• Futures have support at Rs 717 and Rs 722 and expected higher levels at Rs 773 and Rs 778

NBCC

• Results better than expectations
• Profit booking expected at higher levels
• Futures have support at Rs 82 and expected higher levels at Rs 88 and Rs 90

STOCK OF THE DAY

Buy Lupin futures for targets of Rs 2,150, Rs 2,170 and Rs 2,210 with a stop loss at Rs 2.050 

• Results much better than estimates on all parameters
• The company has staged a consistently strong performance for five straight quarters
• Both its US and Indian businesses are doing good
• There's a strong business outlook with major launches
• After Cipla, it is one of the best investment pharma stocks in a tough environment
• With 30 per cent growth and at 30 PE, Lupin makes for an attractive investment

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