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. 

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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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