Anil Singhvi Market Strategy (Feb 9): How to trade Nifty50, Nifty Bank today

Anil Singhvi Market Strategy Today: Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 index emerging at 25,650-25,700 levels and a strong buy zone at 25,500-25,600 levels on Monday, February 9.

The market wizard sees support for the Nifty Bank at 59,900-60,075 levels and a strong buy area at 59,650-59,800 levels.

How market guru Anil Singhvi sums up the trade setup:

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• Global: Positive
• FII: Neutral
• DII: Neutral
• F&O: Neutral
• Sentiment: Positive
• Trend: Neutral

• FII long positions at 18.32 per cent vs 18.50 per cent before Friday's session

• Nifty put-call ratio (PCR) at 0.97 vs 0.82

• Nifty Bank PCR at 0.96 vs 1.06

• Volatility index India VIX down 2 per cent at 11.94

For the headline index, the market wizard expects a higher zone at 25,900-26,000 levels and a profit-booking zone at 26,050-26,175 levels.

For the banking index, he expects a higher zone at 60,325-60,500 levels, with the next big target above the 60,500 mark near 61,000.

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ANIL SINGHVI MARKET STRATEGY | How to trade Nifty50 and Nifty Bank

For existing long positions:

• Nifty intraday and closing stop loss at 25,625
• Nifty Bank intraday and closing stop loss at 59,800

For existing short positions:

• Nifty intraday and closing stop loss at 25,825
• Nifty Bank intraday stop loss at 60,500 and closing stop loss at 60,250

For new positions in Nifty50:

• Buy Nifty with a stop loss at 25,625 for targets of 25,815, 25,900, 25,935, 26,000, 26,050, 26,125 and 26,175

• The best range to sell Nifty is 25,975-26,125 with a stop loss at 26,250 for targets of 25,900, 25,825, 25,775, 25,725, 25,700 and 25,650

For new positions in Nifty Bank:

• Buy Nifty Bank with a stop loss at 59,800 for targets of 60,300, 60,375, 60,425 and 60,500; once the index crosses 60,500, one may hold on to their long positions with a trailing stop loss for the next big target near 61,000

• Sell Nifty Bank only if private banks don’t perform and the index unable to cross 60,500; use a strict stop loss at 60,550

Futures & options (F&O) ban

• Already in ban: Sammaan Capital
• New in ban: None
• Out of ban: None

Dalal Street bound to rise from here on?

• Major events like Budget, trade deal and the RBI policy are out of the way now
• Most heavyweight companies have released their results
• FII outflows has paused
• After US trade deal, fears of a fall in Reliance and Adani group stocks have reduced
• Banking stocks are likely to take leadership on the upside after SBI’s strong results
• Even the weakest sector -- IT -- fell 7 per cent last week, reducing the possibility of further weakness
• Policy action around PSUs picked up over the weekend
• Disinvestment in PFC-REC and IDBI Bank has moved forward

What to buy and what to sell after the trade deal?

• A strong rally is expected in Adani group stocks
• There appears to be a buying opportunity in Adani Enterprises, Adani Ports and Adani Green Energy
• Auto ancillary stocks like Sona BLW and Motherson are also likely to see gains
• One may consider selling Siemens; rising competition in industrial goods could hurt the stock
• The deal is positive for generic pharma, but avoid buying Aurobindo Pharma due to a major negative action by the US regulator

How to trade buzzing stocks

Buy SBI futures for targets of Rs 1,085, Rs 1,098 and Rs 1,110 with a stop loss at Rs 1,052

• The elephant can dance
• Today’s ‘Dhurandhar’ stock
• Strong outstanding performance
• Best results among banks
• The PSU bank has raised its credit guidance upwards to 13-15 per cent

Buy Tata Steel futures for targets of Rs 199, Rs 201 and Rs 204 with a stop loss at Rs 193

• Results better than expectations
• The price hikes in India and Europe are a big positive
• Strong outlook management

Buy Kalyan Jewellers futures for targets of Rs 392, Rs 397 and Rs 408 with a stop loss at Rs 370

• Amazing results
• Strong 42 per cent revenue growth along with 27 per cent SSSG
• Strong operational performance

Shree Cement futures have support at Rs 26,300 and Rs 25,500 with a higher level expected at Rs 28,000

• Weak results on all parameters
• Disappointing volume growth and weak pricing

Bosch futures have support at Rs 35,000 and Rs 34,000 with a higher level expected at Rs 37,000

• Weak results but trade deal is positive for auto ancillary stocks

Crompton Greaves Consumer Electrical futures have support at Rs 238 with a higher level expected at Rs 265

• Results better than expectations

NBFCs

• Strong results from companies like India Shelter Finance and Fusion finance

Sell Siemens futures for targets of Rs 3,140, Rs 3,110 and Rs 3,090 with a stop loss at Rs 3,210

• Weak results
• Trade deal negative for capital goods stocks

Buy Adani Green futures for targets of Rs 985, Rs 995 and Rs 1,000 with a stop loss at Rs 955

• Trade deal is positive

Buy Adani Ports futures for targets of Rs 1,570, Rs 1,580 and Rs 1,590 with a stop loss at Rs 1,530

• Trade deal is positive

Buy Adani Enterprises futures for targets of Rs 2,245, Rs 2,270 and Rs 2,300 with a stop loss at Rs 2,200

• Trade deal is positive

PFC-REC

• A major gap-up opening expected
• One should not rush to buy
• Profit-booking advised at higher levels
• REC has support at Rs 368 and Rs 355 with higher levels expected at Rs 387 and Rs 390
• PFC has support at Rs 387 and Rs 397 with higher levels expected at Rs 429 and Rs 440