Anil Singhvi's Market Strategy (Feb 17): Important levels to track in Nifty50, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support to emerge at 22,750-22,825 levels and a stronger support zone at 22,500-22,600 levels for the headline Nifty50 index on Monday, February 17. For the Nifty Bank, he expects support at 48,575-48,725 levels and a stronger support zone at 48,200-48,450 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: Negative

• FII long positions unchanged at 16 per cent as before the previous session

• Nifty put-call ratio (PCR) at 0.77 vs 0.90

• Nifty Bank PCR at 0.68 vs 0.75

• Volatility index India VIX up 0.5 per cent at 15.02

The market wizard sees a higher zone at 22,975-23,075 levels and a strong sell zone at 23,150-23,250 levels for the headline index. 

For the banking index, he sees a higher zone at 49,375-49,575 levels and a strong sell zone at 49,700-49,900 levels.  

ANIL SINGHVI MARKET STRATEGY

For existing long positions: 

• Nifty intraday stop loss at 22,750 and closing stop loss at 22,825

• Nifty Bank intraday and closing stop loss at 48,700

For existing short positions:

• Nifty intraday and closing stop loss at 23,150

• Nifty Bank intraday and closing stop loss at 49,600

For new positions in Nifty50:

• Aggressive traders can buy Nifty in the 22,775-22,825 range with a strict stop loss at 22,700 for targets of 22,925, 22,975, 23,025, 23,075, 23,150 and 23,225

• Aggressive traders can sell Nifty in the 23,125-23,250 range with a strict stop loss at 23,400 for targets of 23,075, 23,025, 22,975, 22,925, 22,825 and 22,800

For new positions in Nifty Bank:

• The best range to buy Nifty Bank is 48,200-48,450 with a stop loss at 48,000 for targets of 48,575, 48,725, 48,875, 49,000, 49,100 and 49,175

• Aggressive traders can buy Nifty Bank in the 48,575-48,750 range with a strict stop loss at 48,500 for targets of 49,000, 49,100, 49,175, 49,275, 49,375, 49,475 and 49,600

• Aggressive traders can sell Nifty Bank in the 49,600-49,825 range with a strict stop loss at 50,000 for targets of 49,500, 49,400, 49,275, 49,175, 49,100 and 49,000

F&O Ban Update

• New in ban: Deepak Nitrite
• Out of ban: Manappuram Finance
• Already in ban: None

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