Anil Singhvi strategy for February 10: Key market triggers, important levels to track in Nifty50, Nifty Bank

Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 benchmark at 17,775-17,825 levels on Friday, February 10, and a strong buy zone in the 17,650-17,750 band. For the Nifty Bank — whose 12 constituents include SBI, HDFC Bank, Bank of Baroda, Kotak Mahindra Bank, Axis Bank and ICICI Bank, he sees support coming in at 41,100-41,275 levels, and a strong buy zone in the 40,600-40,750 area.

Here's how Anil Singhvi sums up the market setup on February 10:

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

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For the 50-scrip headline index, Anil Singhvi expects a higher zone at 17,875-17,925 levels and a strong sell zone at 17,975-18,025 levels.​ For the banking index, he sees a higher zone at 41,625-41,775 levels and a strong sell area in the 41,950-42,075 band.

• FII index longs unchanged at 19 per cent on Friday

• Put-call ratio (PCR) at 1.12 on Friday vs 1.21 the previous day

• Nifty Bank PCR at 0.86 vs 0.90 the previous day

• Fear index India VIX down 4.08 per cent at 13.04

Anil Singhvi market strategy

For existing long positions:

• Nifty50 intraday and closing stop loss at 17,700

• Nifty Bank intraday stop loss at 41,000 and closing stop loss at 41,350

For existing short positions:

• Nifty intraday stop loss at 18,025 and closing stop loss at 17,900

• Nifty Bank intraday stop loss at 42,000 and closing stop loss at 41,800

For new positions in Nifty:

• Buy Nifty in the 17,750-17,825 range with a stop loss at 17,700 for targets of 17,850, 17,875, 17,900, 17,975 and 18,000

• Sell Nifty in the 17,950-18,025 range with a stop loss at 18,125 for targets of 17,900, 17,875, 17,850, 17,800, 17,775, 17,750 and 17,700

For new positions in Nifty Bank:

• Aggressive traders can buy Nifty Bank in the 41,100-41,275 range with a strict stop loss at 41,000 for targets of 41,375, 41,500, 41,550, 41,625, 41,725 and 41,775

• Aggressive traders can sell Nifty Bank in the 41,725-41,875 range with a strict stop loss at 42,000 for targets of 41,625, 41,550, 41,500, 41,400, 41,275 and 41,100

F&O ban update

• Already in ban: IB Housing Finance, Ambuja Cements

• New in ban: None

• Out of ban: None

Stocks of the day

• Sell Voltas: Bad results, operationally weak performance
• Sell United Breweries: Results much below estimates, volume growth a big concern
• Buy CG Power: Increase of weightage in MSCI, good buying expected
• Aurobindo Pharma: Interesting results, management guidance in concall will be key

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