Anil Singhvi Market Strategy December 16: Important levels to track in Nifty50, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support to emerge at 24,625-24,700 levels and a strong buy zone at 24,500-24,575 levels for the headline Nifty50 index on Monday, December 16. For the Nifty Bank, he expects support at 53,175-53,325 levels and a strong buy zone at 52,850-53,025 levels.

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

• Global: Neutral

• FII: Positive

• DII: Neutral

• F&O: Neutral

• Sentiment: Positive

• Trend: Positive

• FII long positions 41 per cent vs 40 per cent before the previous session

• Nifty put-call ratio (PCR) at 1.12 vs 1.02

• Nifty Bank PCR at 0.95 vs 0.90

• Volatility index India VIX down one per cent at 13.05   

The market wizard sees a higher zone for the headline index at 24,850-24,950 levels and a profit-booking zone at 24,975-25,125 levels.

For the banking index, he sees a higher zone at 53,775-53,875 levels and a profit-booking zone at 53,975-54,150 levels.

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

• Nifty intraday and closing stop loss at 24,500
• Nifty Bank intraday and closing stop loss at 53,150

For existing short positions:

• Nifty intraday and closing stop loss at 24,875
• Nifty Bank intraday stop loss at 53,900 and closing stop loss at 53,650

For new positions in Nifty50:

• The best range to buy Nifty is 24,600-24,700 with a stop loss at 24,500 for targets of 24,765, 24,850, 24,900, 24,950, 24,975 and 25,050

• Aggressive traders can sell Nifty in the 24,850-25,000 range with a strict stop loss at 25,050 for targets of 24,775, 24,700, 24,675, 24,650, 24,600 and 24,550

For new positions in Nifty Bank:

• The best range to buy Nifty Bank is 53,175-53,325 with a stop loss at 53,000 for targets of 53,500, 53,575, 53,650, 53,775, 53,875, 53,950 and 54,025

• Aggressive traders can sell Nifty Bank in the 53,875-54,000 range with a strict stop loss at 54,100 for targets of 53,650, 53,575, 53,500, 53,400, 53,325 and 53,175

Stocks in F&O Ban ​

• New in ban: Manappuram Finance, SAIL
• Already in ban: NALCO, Hindustan Copper, Metropolis, RBL Bank, Granules India, PVR Inox
• Out of ban: None

Stocks of the Day

Buy Gujarat Gas, IGL and MGL shares

• Gas prices have risen by $2 
• Positive for gas distribution companies
• Expect IGL MGL and Gujarat gas to move positively 

Buy RITES shares for targets of Rs 300, Rs 304 and Rs 310 with a stop loss at Rs 290 

• The company has received a Rs 297-crore order from the External Affairs Ministry 

Buy Swiggy shares for targets of Rs 540, Rs 545 and Rs 550 with a stop loss at Rs 525  

• Platform stocks are in a strong uptrend 
• Axis Capital has a 'buy' rating with a Rs 640 target

Buy Dixon Tech futures with a stop loss at Rs 17,800 for targets of Rs 18,190 and Rs 18,250

• The company has entered a JV with Vivo for mobile production

Buy Sudarshan Chemical shares in the cash segment for targets of Rs 1,160, Rs 1,180 and Rs 1,200 with a stop loss at Rs 1,120 

• The company has allotted shares to big investors like Nemish Shah and Akash Bansal

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