Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support to emerge at 23,500-23,575 levels and a strong buy zone at 23,350-23,450 levels for the headline Nifty50 index on Wednesday, January 1. For the Nifty Bank, he expects support at 50,450-50,600 levels and a stronger support zone at 50,175-50,375 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 unchanged at 14 per cent as before the previous day
  • Nifty put-call ratio (PCR) at 0.99 vs 0.88
  • Nifty Bank PCR at 0.88 vs 0.96
  • India VIX up 3.5 per cent at 14.45 

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The market wizard sees a higher zone for the headline index at 23,700-23,800 levels and a profit-booking zone at 23,850-23,925 levels. For the banking index, he sees a higher zone at 50,950-51,175 levels and a profit-booking zone at 51,250-51,425 levels.

What does the latest FII selling mean for Dalal Street?

  • FIIs continue to withdraw funds after holidays
  • Net sales amount to Rs 9,300 crore across the cash, index and stock futures segments
  • Tuesday's selling is significantly large in quantity as well as quality
  • DIIs made net purchases of Rs 4,547 crore

What can you expect in the first trading session of the New Year? 

  • FIIs and DIIs are active despite a holiday mood
  • Traders' participation is expected to remain low
  • Market action is set to intensify on Thursday followed by the return of normal volumes from Monday
  • No need to change the strategy
  • Buy in the support range and book profits in the higher range
  • Nifty50 is set to find strong support at 23,350-23,500 followed by a higher range at 23,750-23,870
  • Nifty Bank has very strong support at its November 21 low of 49,800-50,075
  • Before that range, a suitable buying range for day traders exists at 50,450-50,600
  • A higher range for the banking index is placed at 51,175-51,325 levels

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

  • Nifty intraday stop loss at 23,450 and closing stop loss at 23,575
  • Nifty Bank intraday stop loss at 50,500 and closing stop loss at 50,700

For existing short positions:

  • Nifty intraday and closing stop loss at 23,825
  • Nifty Bank intraday and closing stop loss at 51,325

For new positions in Nifty50:

  • The best range to buy Nifty is 23,265-23,350 with a stop loss at 23,200 for targets of 23,450, 23,500, 23,525, 23,575, 23,650 and 23,700
  • Aggressive traders can buy Nifty in the 23,450-23,575 range with a strict stop loss at 23,350 for targets of 23,650, 23,725, 23,750, 23,800, 23,870 and 23,925
  • The best range to sell Nifty is 23,750-23,850 with a stop loss at 24,000 for targets of 23,700, 23,650, 23,600, 23,575, 23,525 and 23,460

For new positions in Nifty Bank:

  • The best range to buy Nifty Bank is 49,800-50,075 with a stop loss at 49,700 for targets of 50,375, 50,450, 50,600, 50,700, 50,775 and 50,850
  • Aggressive traders can buy Nifty Bank in the 50,450-50,600 range with a strict stop loss at 50,350 for targets of 50,750, 50,850, 50,950, 51,025, 51,125, 51,250 and 51,325
  • The best range to sell Nifty Bank is 51,175-51,325 with a stop loss at 51,500 for targets of 51,025, 50,950, 50,875, 50,750, 50,600 and 50,450

No stock in F&O ban ​

Stocks of the Day

Buy Manappuram Finance shares for targets of Rs 250, Rs 300 and Rs 375

  • SIP on every 15 per cent fall
  • Significant gold finance company with a Rs 45,000 crore in AUMs
  • The company has forayed into other businesses amid rising competition in gold finance
  • 47 per cent of the company's AUM in non-gold businesses; only 24 per cent from MFI operations
  • An RBI ban on the company's subsidiary Asirvad is expected to end soon
  • The company has taken made necessary changes in Asirvad
  • Valuations are attractive with FY26 book value at a 1x multiple
  • There is talk in the market suggesting a potential stake sale by promoters; such a development can trigger a rerating
  • Buy for 1-2 years

Buy Ixigo shares for targets of Rs 225, Rs 300 and Rs 350

  • Strong and professional promoters
  • Great user experience
  • The company has a strong presence in the railway booking segment
  • New customer additions reported in other businesses
  • Market cap at Rs 6,500 crore
  • Rs 15,000 crore income expected in FY25 
  • Income expected to double soon
  • Valuations are attractive among peers
  • The stock is expected to double in two years
  • Invest from a three-year perspective

Buy Exide shares for targets of Rs 600, Rs 725 and Rs 800

  • SIP on every 10 per cent fall
  • It is the best stock to play the EV battery theme at the current juncture
  • The company plans to launch an EV battery in 2025
  • Its giga factory is ready for production
  • The company has signed an agreement with Hyundai 
  • It is expected to sign pacts with several other major auto makers
  • Falling lead prices set to boost its margin
  • The company's profit can grow 40 per cent in the next three years
  • Invest from a 1-2-year perspective 

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