Anil Singhvi Market Strategy December 18: Important levels to track in Nifty50, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support to emerge at 24,175-24,275 levels and a stronger support zone at 23,875-24,000 levels for the headline Nifty50 index on Wednesday, December 18. For the Nifty Bank, he expects support at 52,375-52,550 levels and a stronger support zone at 52,100-52,275 levels.

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

• Global: Negative

• FII: Negative

• DII: Positive

• F&O: Cautious

• Sentiment: Cautious

• Trend: Positive

• FII long positions at 36 per cent vs 39 per cent before Tuesday's session

• Nifty put-call ratio (PCR) at 0.65 vs 0.90

• Nifty Bank PCR at 0.69 vs 0.91

• Volatility index India VIX up 3.5 per cent at 14.49  

The market wizard sees a higher zone for the headline index at 24,450-24,550 levels and a strong sell zone at 24,575-24,700 levels.

For the banking index, he sees a higher zone at 53,150-53,300 levels and a strong sell zone at 53,400-53,650 levels.

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

• Nifty intraday and closing stop loss at 24,175
• Nifty Bank intraday and closing stop loss at 52,250

For existing short positions:

• Nifty intraday stop loss at 24,500 and closing stop loss at 24,625
• Nifty Bank intraday stop loss at 53,050 and closing stop loss at 53,300

For new positions in Nifty50:

• Aggressive traders can sell Nifty in the 24,500-24,600 range with a strict stop loss at 24,700 for targets of 24,465, 24,400, 24,335, 24,300, 24,275 and 24,175

• Aggressive traders can buy Nifty in the 24,000-24,175 range with a strict stop loss at 23,875 for targets of 24,275, 24,300, 24,325, 24,400, 24,465 and 24,500

For new positions in Nifty Bank:

• Aggressive traders can sell Nifty Bank in the 53,150-53,300 range with a strict stop loss at 53,500 for targets of 53,000, 52,850, 52,725, 52,550, 52,450 and 52,275

• Aggressive traders can buy Nifty Bank in the 52,275-52,450 range with a strict stop loss at 52,100 for targets of 52,700, 52,825, 52,950, 53,025, 53,150 and 53,300

Stocks in F&O Ban ​

• New in ban: Bandhan Bank, PVR, Chambal Fert
• Already in ban: Manappuram Fin, SAIL, NALCO, Hind Copper, RBL Bank, Granules
• Out of ban: None

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