Anil Singhvi's Market Strategy (Feb 10): Important levels to track in Nifty50, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support to emerge at 23,400-23,500 levels and a stronger support zone at 23,275-23,350 levels for the headline Nifty50 index on Monday, February 10. For the Nifty Bank, he expects support at 49,675-49,875 levels and a strong buy zone at 49,375-49,575 levels. 

Here's how the market guru sums up the trade setup this morning: 

• Global: Negative

• FII: Neutral

• DII: Neutral

• F&O: Neutral

• Sentiment: Neutral

• Trend: Neutral

• FII long positions at 16 per cent vs 17 per cent before Friday's session

• Nifty put-call ratio (PCR) at 0.83 vs 0.95

• Nifty Bank PCR at 0.85 vs 0.93

• Volatility index India VIX down 3.5 per cent at 13.69

The market wizard sees a higher zone at 23,600-23,700 levels and a profit-booking zone at 23,770-23,870 levels for the headline index. 

For the banking index, he sees a higher zone at 50,375-50,525 levels and a profit-booking zone at 50,650-50,850 levels.  

ALSO READ: Dalal Street Week Ahead: Macro data, Q3 results, FII activity, global cues set to be in focus

EDITOR'S TAKE | How market guru Anil Singhvi views D-Street 

The market wizard has highlighted the following points: 

• Except the tariff war, Dalal Street has mostly positive signals
• No increase in FII outflows will help the market rise
• The risk-reward ratio favours buying at the current juncture
• Strength in largecap stocks will also lead to buying in midcap & smallcap counters

ANIL SINGHVI MARKET STRATEGY

For existing long positions: 

• Nifty intraday and closing stop loss at 23,425

• Nifty Bank intraday and closing stop loss at 49,850

For existing short positions:

• Nifty intraday stop loss at 23,700 and closing stop loss at 23,750

• Nifty Bank intraday and closing stop loss at 50,650

For new positions in Nifty50:

• The best range to buy Nifty is 23,400-23,500 with a stop loss at 23,300 for targets of 23,550, 23,600, 23,675, 23,700, 23,750 and 23,800

• Aggressive traders can sell Nifty in the 23,700-23,800 range with a strict stop loss at 23,875 for targets of 23,635, 23,600, 23,550, 23,500, 23,450 and 23,400

For new positions in Nifty Bank:

• The best range to buy Nifty Bank is 49,675-49,875 with a stop loss at 49,500 for targets of 50,000, 50,150, 50,200, 50,350, 50,450 and 50,525

• Aggressive traders can buy Nifty Bank with a strict stop loss at 49,850 for targets of 50,350, 50,450, 50,525, 50,625, 50,750, 50,850 and 50,900

• Aggressive traders can sell Nifty Bank in the 50,500-50,650 range with a strict stop loss at 50,750 for targets of 50,375, 50,200, 50,150, 50,000, 49,875 and 49,675

F&O Ban Update

• New in ban: Manappuram
• Already in ban: None
• Out of ban: None

RESULTS REVIEWS

Sun TV 

• Results extremely weak on all parameters
• Sell Sun TV futures with a stop loss at Rs 638 for targets of Rs 615, Rs 600 and Rs 590

Delhivery 

• Results below estimate on all parameters
• Sell Delhivery futures with a strict stop loss at Rs 330 for targets of Rs 308 and Rs 300 

LIC 

• Results weak 
• Below expectations
• One can sell LIC futures at higher levels
• Futures have support at Rs 790 and an expeted higher level at Rs 830 

STOCK OF THE DAY

Buy M&M futures for targets of Rs 3,240 and Rs 3,290 with a stop loss at Rs 3,160 

• The management has given a strong post-results commentary 
• The sector business outlook is looking very strong

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