Anil Singhvi's Market Strategy (Feb 13): Important levels to track in Nifty50, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support to emerge at 22,750-22,850 levels and a stronger support zone at 22,500-22,600 levels for the headline Nifty50 index on Thursday, February 13. 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: Negative

• FII: Negative

• DII: Positive

• F&O: Neutral

• Sentiment: Negative

• Trend: Neutral

• FII long positions at 15 per cent vs 14 per cent before Wednesday's session

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

• Nifty Bank PCR at 0.79 vs 0.75

• Volatility index India VIX unchanged at 14.90

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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 49,700-49,900 levels and a profit-booking zone at 49,975-50,150 levels.

EDITOR'S TAKE | How market guru Anil Singhvi views Dalal Street now

The market wizard has highlighted the following points:

• Wednesday's wild swings a good sign for the amrket
• Nifty50 has formed a double bottom at 22,800; fresh weakness can only occur if the index closes below this level
• Some short-covering action can be expected due to the weekly F&O expiry today
• During a recovery, one can expect selling pressure at 23,300-23,400 levels
• Nifty Bank is stronger than Nifty50 at the current juncture
• During a recovery, Nifty Bank can reach 50,150-50,350 levels
• Investors have stopped panicking in midcap and smallcap stocks but weakness has not finished in the segments
• Investors should remain prepared for accidents in funding positions-related stocks

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

• Nifty intraday stop loss at 22,750 and closing stop loss at 22,975

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

For existing short positions:

• Nifty intraday stop loss at 23,200 and closing stop loss at 23,400

• Nifty Bank intraday stop loss at 49,750 and closing stop loss at 50,000

For new positions in Nifty50:

• The best range to buy Nifty is 22,750-22,850 with a stop loss at 22,700 for targets of 22,900, 22,975, 23,050, 23,075, 23,150 and 23,200

• Aggressive traders can buy Nifty with a strict stop loss at 22,950 for targets of 23,150, 23,200, 23,265, 23,300, 23,350 and 23,380

• Aggressive traders can sell Nifty in the 23,250-23,375 range with a strict stop loss at 23,500 for targets of 23,200, 23,150, 23,100, 23,050, 23,000 and 22,825

For new positions in Nifty Bank:

• The best range to buy Nifty Bank is 48,750-49,000 with a stop loss at 48,650 for targets of 49,175, 49,325, 49,400, 49,475, 49,575 and 49,675

• Aggressive traders can buy Nifty Bank with a strict stop loss at 49,150 for targets of 49,675, 49,750, 49,875, 49,975, 50,150 and 50,350

• Aggressive traders can sell Nifty Bank in the 50,150-50,350 range with a strict stop loss at 50,500 for targets of 50,000, 49,900, 49,700, 49,575, 49,500 and 49,400

F&O Ban Update

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

RESULTS REVIEWS

Muthoot Finance

• Results strong on all parameters
• Improvement in asset quality
• Buy Muthoot Finance futures for targets of Rs 2,245, Rs 2,265 and Rs 2,280 with a stop loss at Rs 2,135

Bharat Forge

• Results weaker than estimates
• Outook not very strong
• Sell futures for targets of Rs 1,085, Rs 1,070 and Rs 1,045 with a stop loss at Rs 1,130

Crompton Greaves Consumer

• Results operationally strong
• Futures have support at Rs 323 and Rs 331 and expected higher levels at Rs 348 and Rs 355

STOCKS OF THE DAY

Kotak Mahindra Bank futures have support at Rs 1,910 and expected higher levels at Rs 1,970 and Rs 1,985

• The RBI has lifted restrictions that had barred the lender from onboarding new customers through its online channels and issuing new credit cards
• The stock is expected to make a big gap-up opening
• It has already rallied from Rs 1,710 to Rs 1,950
• One can expect some profit-booking in the stock

Buy Lupin futures for targets of Rs 2,065, Rs 2,100 and Rs 2,140 with a stop loss at Rs 2,000

• Indian pharma companies having businesses in the US are looking strong
• Lupin has posted very strong results
• Its outlook is even better

Buy Divi’s Labs futures for targets of Rs 6,060, Rs 6,130 and Rs 6,190 with a stop loss at Rs 5,930

• Mike Johnson has said that Donald Trump will exempt pharma businesses from tariff war
• Leading API player Divi's is set to benefit

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