Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support to emerge at 23,600-23,800 levels and a strong buy zone at 23,350-23,500 levels for the headline Nifty50 index on Thursday, December 19. For the Nifty Bank, he expects support at 51,300-51,475 levels and a stronger support zone at 50,975-51,175 levels.

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The market wizard suggests waiting for a clear 'buy' signal for fresh buying in the Nifty and Nifty Bank indices. For now, the lows of November 21 are apt for making such moves, he adds. 

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

  • Global: Negative
  • FII: Negative
  • DII: Positive
  • F&O: Neutral
  • Sentiment: Negative
  • Trend: Neutral
  • FII long positions at 35 per cent vs 36 per cent the previous day
  • Nifty put-call ratio (PCR) at 0.55 vs 0.65
  • Nifty Bank PCR at 0.52 vs 0.69
  • Volatility index India down one per cent at 14.37  

The market wizard sees a higher zone for the headline index at 24,000-24,200 levels.

For the banking index, he sees a higher zone at 52,000-52,150 levels.

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

  • Nifty intraday and closing stop loss at 23,850
  • Nifty Bank intraday and closing stop loss at 51,100​

For existing short positions:

  • Nifty intraday and closing stop loss at 24,200
  • Nifty Bank intraday and closing stop loss at 52,150

For new positions in Nifty50:

  • Sell Nifty with a stop loss at 24,050 for targets of 23,925, 23,875, 23,800, 23,675, 23,600 and 23,550

For new positions in Nifty Bank:

  • Sell Nifty Bank with a stop loss at 52,000 for targets of 51,775, 51,675, 51,500, 51,350, 51,175 and 51,100

Stocks in F&O Ban ​

  • New in ban: NMDC
  • Already in ban: Bandhan Bank, PVR, Chambal Fertilisers, Manappuram Finance, SAIL, Hindustan Copper, RBL Bank, Granules India, NALCO
  • Out of ban: None

Stocks of the Day

Sell Vedanta futures for targets of Rs 480, Rs 475 and Rs 465 with a stop loss at Rs 495 

Sell Hindalco futures for targets of Rs 620, Rs 610 and Rs 602 with a stop loss at Rs 643 

  • There is a meltdown in metals globally

Sell Apollo Hospitals Enterprise futures for targets of Rs 7,100, Rs 7,000 and Rs 6,925 with a stop loss at Rs 7,300 

  • Profit booking is expected in hospital stocks

Sell ICICI Bank futures for targets of Rs 1,300, Rs 1,285 and Rs 1,270 with a stop loss at Rs 1,338 

  • Banking stocks are looking weak
  • ICICI Bank may lead weakness in Nifty Bank 

Sell Cholamandalam Investment & Finance futures for targets of Rs 1,225, Rs 1,210 and Rs 1,200 with a stop loss at Rs 1,260 

  • NBFC stocks are looking very weak
  • One can expect profit booking in the space
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