Anil Singhvi Market Strategy January 2, 2025: Important levels to track in Nifty50, Nifty Bank today

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 Thursday, January 2. For the Nifty Bank, he expects support at 50,725-50,875 levels and a stronger support zone at 50,475-50,600 levels. 

The market wizard believes traders will get a plenty of opportunities on either side of the flatline on Thursday, suggesting buying at important support levels in case of a weak opening. He expects significant buying interest in midcap and smallcap stocks during the session.

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

• Global: Neutral

• FII: Negative

• DII: Positive

• F&O: Neutral

• Sentiment: Neutral

• Trend: Neutral

• FII long positions unchanged at 14 per cent as the previous day

• Nifty put-call ratio (PCR) at 1.06 vs 0.99

• Nifty Bank PCR at 0.93 vs 0.88

• India VIX up 0.5 per cent at 14.51 

The market wizard sees a higher zone for the headline index at 23,800-23,870 levels and a profit-booking zone at 23,925-24,050 levels. For the banking index, he sees a higher zone at 51,250-51,400 levels and a profit-booking zone at 51,575-51,750 levels.

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

• Nifty intraday stop loss at 23,450 and closing stop loss at 23,550

• Nifty Bank intraday stop loss at 50,500 and closing stop loss at 50,750

For existing short positions:

• Nifty intraday stop loss at 23,950 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 23,525-23,650 with a stop loss at 23,450 for targets of 23,725, 23,750, 23,800, 23,825, 23,850 and 23,925

• Aggressive traders can sell Nifty in the 23,825-23,925 range with a strict stop loss at 24,050 for targets of 23,750, 23,725, 23,650, 23,575, 23,525 and 23,475

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 50,450, 50,600, 50,700, 50,775, 50,850 and 50,950

• Aggressive traders can buy Nifty Bank in the 50,600-50,750 range with a strict stop loss at 50,450 for targets of 50,950, 51,050, 51,125, 51,250, 51,325 and 51,400

• Aggressive traders can sell Nifty Bank in the 51,425-51,625 range with a strict stop loss at 51,775 for targets of 51,325, 51,250, 51,175, 51,050, 50,950, 50,875 and 50,725

Stocks in F&O ban ​

• New in ban: Manappuram Finance
• Out of ban: None
• Already in ban: None

New Year Picks

Buy Bank of India shares for targets of Rs 145 and Rs 170 from a perspective of 12-18 months 

• 2025 is set to be a good year for PSU banks
• Attractive valuations and a conducive environment are likely to support buying
• Inflation is set to ease with falling crude oil and metal prices
• Interest rate cuts to be a big positive for PSU banks
• Limited exposure to MFIs to benefit the lenders
• PSU banking stocks have staged pre-Budget rallies in the past 5 years
• The stock is trading at 5.5x PE and 0.67x book value
• It has delivered a dividend yield of 2.5 per cent

Buy Mankind shares for targets of Rs 3,400, Rs 3,700 and Rs 4,000 from a 1-2-year perspective

• Use every 10 per cent fall as an opporuotnity to buy
• Mankind is a fast-growing homegrown pharmaceutical company
• The company has a strong market share along with a diversified brand portfolio
• It has launched 10 brands in the past 4 years
• The company has a strong healthcare portfolio with brands like Mainforce, Preganews, Acne Star and Unwanted72
• It is set to register a strong expansion in the chronic disease space 
• It is also looking at strategic acquisitions in businesses with high entry barriers
• On March 22, 2024, the market guru had given a 'buy' on Mankind at Rs 2,132 as a wealth creation pick

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