Anil Singhvi strategy for February 23: Important market triggers, key levels to track in Nifty50, Nifty Bank on F&O expiry day
Zee Business Managing Editor Anil Singhvi shares his strategy for the February 23 session on Dalal Street - the last trading day of the February F&O series. Check out his take on key support and resistance levels for the Nifty and the Nifty Bank, and how he views the market on the derivatives expiry day.
Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 benchmark at 17,450-17,525 levels on Thursday, February 23 — the monthly F&O expiry day, and a strong support zone in the 17,350-17,400 area. For the Nifty Bank — whose 12 constituents include HDFC Bank, SBI, Bank of Baroda, Axis Bank and Kotak Mahindra Bank, he sees support emerging in the 39,850-39,900 band, and a strong support zone in the 39,425-39,500 area.
Here's how Anil Singhvi sums up the market setup on February 23:
- Global: Neutral
- FII: Negative
- DII: Positive
- F&O: Neutral
- Sentiment: Negative
- Trend: Neutral
For the 50-scrip headline index, he expects a higher zone at 17,650-17,725 levels and a strong sell zone at 17,775-17,850 levels. For the banking index, he sees a higher zone at 40,500-40,675 and a strong sell zone in the 40,875-40,950 range.
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