Anil Singhvi strategy for February 17: Important market triggers, key levels to track in Nifty50, Nifty Bank

Zee Business Managing Editor Anil Singhvi shares his strategy for the February 17 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 sees support for Nifty50 coming in at 17,900-17,950 levels on February 17.

Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 benchmark at 17,900-17,950 levels on Friday, February 17, and a strong buy zone in the 17,800-17,850 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 41,375-41,500 levels, and a strong buy zone in the 41,100-41,250 area.

Here's how Anil Singhvi sums up the market setup on February 17:

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

For the 50-scrip headline index, Anil Singhvi expects a higher zone at 18,000-18,035 levels and a profit-booking zone at 18,100-18,125 levels. For the banking index, he sees a higher zone at 41,725-41,800 levels and a strong sell zone in the 41,950-42,075 range.

TRENDING NOW

FII index longs unchanged at 26 per cent on Friday vs the previous day
Put-call ratio (PCR) at 1.04 vs 1.39 the previous day
Nifty Bank at 0.72 vs 1.01 the previous day
Fear index India VIX unchanged at 12.89

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

Nifty50 intraday and closing stop loss at 17,850
Nifty Bank intraday stop loss at 41,450 and closing stop loss at 41,250

For existing short positions:

Nifty intraday and closing stop loss at 18,150
Nifty Bank intraday and closing stop loss at 42,050

For new positions in Nifty:

Sell Nifty with a stop loss at 18,150 for targets of 17,950, 17,925, 17,900, 17,850 and 17,800
Buy Nifty in the 17,850-17,925 range with a stop loss at 17,775 for targets of 17,950, 18,000, 18,025, 18,100 and 18,125

For new positions in Nifty Bank:

Sell Nifty Bank in the 41,775-41,950 range with a stop loss at 42,050 for targets of 41,675, 41,625, 41,550, 41,500, 41,450, 41,375, 41,275 and 41,150
Buy Nifty Bank in the 41,275-41,425 range with a stop loss at 41,100 for targets of 41,500, 41,550, 41,625, 41,675, 41,725, 41,775 and 41,950

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