Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support to emerge at 23,575-23,650 levels and a stronger support zone at 23,450-23,525 levels for the headline Nifty50 index on Tuesday, December 24. For the Nifty Bank, he expects support at 50,875-51,025 levels and a stronger support zone at 50,625-50,775 levels. 

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

  • Global: Positive
  • FII: Positive
  • DII: Positive
  • F&O: Neutral
  • Sentiment: Neutral
  • Trend: Neutral
  • FII long positions at 30 per cent vs 31 per cent before the previous session
  • Nifty put-call ratio (PCR) at 0.84 vs 0.80
  • Nifty Bank PCR at 0.59 vs 0.52
  • Volatility index India VIX down 10 per cent at 13.52  

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The market wizard sees a higher zone for the headline index at 23,850-23,950 levels and a strong sell zone at 24,000-24,150 levels. For the banking index, he sees a higher zone at 51,575-51,775 levels and a strong sell zone at 51,900-52,100 levels.

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

  • Nifty intraday stop loss at 23,625 and closing stop loss at 23,575
  • Nifty Bank intraday stop loss at 51,000 and closing stop loss at 50,750

For existing short positions:

  • Nifty intraday stop loss at 23,900 and closing stop loss at 24,000
  • Nifty Bank intraday stop loss at 51,525 and closing stop loss at 51,625

For new positions in Nifty50:

  • The best range to buy Nifty is 23,525-23,650 with a stop loss at 23,450 for targets of 23,750, 23,800, 23,870, 23,950, 24,000 and 24,050
  • The best range to sell Nifty is 23,870-24,000 with a stop loss at 24,100 for targets of 23,800, 23,750, 23,650, 23,600 and 23,525

For new positions in Nifty Bank:

  • The best range to buy Nifty Bank is 50,625-50,775 with a stop loss at 50,500 for targets of 50,875, 50,975, 51,025, 51,250, 51,325 and 51,400
  • Aggressive traders can buy Nifty Bank with a strict stop loss at 50,950 for targets of 51,575, 51,625, 51,775, 51,900, 52,000 and 52,150
  • Aggressive traders can sell Nifty Bank in the 51,625-51,775 range with a strict stop loss at 51,850 for targets of 51,425, 51,325, 51,275, 51,025, 50,775 and 50,625

Stocks in F&O Ban ​

  • Out of ban: SAIL
  • Already in ban: RBL Bank, Bandhan Bank, Manappuram Finance, HindustanCopper, Granules India
  • New in ban: None

Stocks of the Day

Buy EPACK Durable shares for targets of Rs 465, Rs 472 and Rs 480 with a stop loss at Rs 445 

  • Chinese company Hisense may invest in EPACK Durable's subsidiary

Buy PG Electroplast shares for targets of Rs 960, Rs 975 and Rs 985 with a stop loss at Rs 940 

  • Whirlpool has partners with the company for the manufacturing of branded semi-automatic washing machines
  • The PG Electroplast stock rose 3.5 per cent on Monday; don’t chase if it makes a big gap-up opening on Tuesday

Santa Pick | Sagility 

Buy Sagility shares for 1-2-year targets of Rs 60 and Rs 70

  • Leading player in the US Healthcare outsourcing industry
  • Strong domain expertise and client relationship
  • Strong operational performance with margins around 16-18 per cent range
  • Strong growth outlook for next three years at 50 per cent PAT CAGR
  • JPMorgan has initiated coverage with an 'overnight' rating and a target of Rs 54
  • Jefferies has initiated coverage with a 'buy' rating and a target of Rs 52

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