Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support to emerge at 24,000-24,075 levels and a strong buy zone at 23,825-23,925 levels for the headline Nifty50 index on Friday, January 3. For the Nifty Bank, he expects support at 51,175-51,325 levels and a strong buy zone at 50,950-51,050 levels. 

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

  • Global: Negative
  • FII: Positive
  • DII: Neutral
  • F&O: Neutral
  • Sentiment: Positive
  • Trend: Neutral
  • FII long positions at 20 per cent vs 14 per cent the previous day
  • Nifty put-call ratio (PCR) at 1.22 vs 1.06
  • Nifty Bank PCR at 1.02 vs 0.93
  • Volatility index VIX down five per cent at 13.74 

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The market wizard sees a higher zone at 24,225-24,325 levels and a strong sell zone at 24,365-24,465 levels for the headline index.  

For the banking index, he sees a higher zone at 51,775-51,975 levels and a strong sell zone at 52,100-52,275 levels.

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

  • Nifty intraday stop loss at 24,000 and closing stop loss at 23,800 
  • Nifty Bank intraday and stop loss at 50,950 

For existing short positions:

  • Nifty intraday and closing stop loss at 24,250
  • Nifty Bank intraday stop loss at 52,000 and closing stop loss at 51,700 

For new positions in Nifty50:

  • The best range to buy Nifty is 23,950-24,075 with a stop loss at 23,800 for targets of 24,150, 24,200, 24,225, 24,275, 24,335 and 24,400
  • Aggressive traders can sell Nifty in the 24,275-24,400 range with a strict stop loss at 24,500 for targets of 24,225, 24,200, 24,150, 24,075, 24,000 and 23,950

For new positions in Nifty Bank:

  • The best range to buy Nifty Bank is 51,150-51,300 with a stop loss at 50,950 for targets of 51,400, 51,575, 51,625, 51,700, 51,750 and 51,975
  • Aggressive traders can buy Nifty Bank in the 51,775-51,975 range with a strict stop loss at 52,100 for targets of 51,675, 51,625, 51,425, 51,325, 51,250 and 51,175

Stocks in F&O ban ​

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

New Year Picks

Buy Union Bank of India shares for targets of Rs 160, Rs 185 and Rs 205 from a perspective of 12-18 months ​

Buy DMart shares for targets of Rs 4,200, Rs 4,500 and Rs 5,000 from a perspective of 1-3 years

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