Anil Singhvi strategy for February 21: Key market triggers, important levels to track in Nifty50, Nifty Bank today

Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 benchmark at 17,750-17,800 levels on Tuesday, February 21, and a strong buy zone in the 17,650-17,725 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 40,375-40,525 levels, and stronger support zone in the 40,075-40,175 band.

Here's how Anil Singhvi sums up the market setup on February 21:

• Global: Neutral

• 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 profit-booking zone at 17,950-18,035 levels.​ For the banking index, he sees a higher zone at 40,900-41,100 and a strong sell are in the 41,200-41,375 range.

• FII index longs at 22 per cent on Tuesday vs 23 per cent the previous day
• Nifty50 put-call ratio (PCR) at 0.74 vs 0.88 the previous day
• Nifty Bank PCR at 0.54 vs 0.60 the previous day; oversold, short-covering expected
• Fear index India VIX up 2.27 per cent at 13.38

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

• Nifty50 intraday and closing stop loss at 17,700

• Nifty Bank intraday and closing stop loss at 40,500

For existing short positions:

• Nifty intraday and closing stop loss at 18,050

• Nifty Bank intraday stop loss at 41,000 and closing stop loss at 41,300

For new positions in Nifty:

• Buy Nifty in the 17725-17800 range with a stop loss at 17,650 for targets of 17,850, 17,875, 17,925, 17,950, 18,000 and 18,035

• Sell Nifty in the 17950-18035 range with a stop loss at 18,135 for targets of 17,900, 17,850, 17,825, 17,800, 17,775 and 17,725

For new positions in Nifty Bank:

• Aggressive traders can buy Nifty Bank in the 40,175-40,375 range with a strict stop loss at 40,000 for targets of 40,500, 40,575, 40,675, 40,750, 40,875 and 41,075

• Aggressive traders can sell Nifty Bank in the 41,100-41,300 range with a strict stop loss at 41,500 for targets of 40,900, 40,825, 40,700, 40,600, 40,525 and 40,375

F&O ban update

• Already in ban: None

• New in ban: None

• Out of ban: IB Housing Finance, Ambuja Cements

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