Anil Singhvi strategy for February 8: Key market triggers, important levels to track in Nifty50, Nifty Bank today
Zee Business Managing Editor Anil Singhvi shares his strategy for the February 8 session on Dalal Street. Check out his take on key support and resistance levels for the Nifty and the Nifty Bank, and how he views the market.
Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 benchmark at 17,650-17,700 levels on Wednesday, February 8 — the day the RBI reveals what's in store for the economy and the market at the end of a three-day policy review. Singhvi sees a strong buy zone in the 17,550-17,600 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 40,675-40,800 area.
Here's how Anil Singhvi sums up the market setup on February 8:
- Global: Positive
- FII: Negative
- DII: Positive
- F&O: Neutral
- Sentiment: Neutral
- Trend: Negative
For the 50-scrip headline index, Anil Singhvi expects a higher zone at 17,800-17,850 levels and a strong sell zone in the 17,875-17,975 area.
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