Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support to emerge at 23,675-23,750 levels and a strong buy zone at 23,525-23,650 levels for the headline Nifty50 index on Monday, December 30. For the Nifty Bank, he expects support at 50,950-51,125 levels and a strong buy zone at 50,625-50,775 levels. 

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

  • Global: Negative
  • FII: Negative
  • DII: Positive
  • F&O: Neutral
  • Sentiment: Neutral
  • Trend: Neutral
  • FII long positions at 17 per cent vs 18 per cent before the previous session
  • Nifty put-call ratio (PCR) at 1.03 vs 1.05
  • Nifty Bank PCR at 1.03 vs 1.01
  • Volatility index India VIX down six per cent at 13.24   

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

The market wizard sees a higher zone for the headline index at 23,850-23,925 levels and a strong sell zone at 24,000-24,150 levels. For the banking index, he sees a higher zone at 51,425-51,575 levels and a profit-booking zone at 51,625-51,775 levels.

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

  • Nifty intraday stop loss at 23,650 and closing stop loss at 23,575
  • Nifty Bank intraday stop loss at 50,900 and closing stop loss at 50,750

For existing short positions:

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

For new positions in Nifty50:

  • The best range to buy Nifty is 23,650-23,750 with a stop loss at 23,525 for targets of 23,800, 23,850, 23,925, 24,000, 24,050 and 24,150
  • Aggressive traders can sell Nifty in the 23,925-24,050 range with a strict stop loss at 24,200 for targets of 23,870, 23,825, 23,750, 23,725, 23,675 and 23,650

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 50,950, 51,025, 51,125, 51,175, 51,225 and 51,325
  • Aggressive traders can buy Nifty Bank with a strict stop loss at 50,950 for targets of 51,400, 51,575, 51,625, 51,725, 51,775 and 51,900
  • Aggressive traders can sell Nifty Bank in the 51,625-51,775 range with a strict stop loss at 51,900 for targets of 51,425, 51,325, 51,250, 51,175, 51,125, 51,025 and 50,950

No stock in F&O ban ​

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