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   

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

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

Catch all the latest stock market updates here. For all other news related to business, market, tech and auto, visit Zeebiz.com.