Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support to emerge at 24,460-24,510 levels and a strong buy zone at 24,350-24,435 levels for the headline Nifty50 index on Wednesday, December 11. For the Nifty Bank, he expects support at 53,175-53,325 levels and a strong buy zone at 52,700-52,850 levels.

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

  • Global: Negative
  • FII: Neutral
  • DII: Neutral
  • F&O: Neutral
  • Sentiment: Neutral
  • Trend: Positive
  • FII long positions at 43 per cent vs 45 per cent before Tuesday's session
  • Nifty put-call ratio (PCR) at 0.86 vs 0.90
  • Nifty Bank PCR at 1.02 vs 0.98
  • Volatility index India VIX down 2.5 per cent at 13.78

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The market wizard sees a higher zone for the headline index at 24,675-24,750 levels and a strong sell zone at 24,800-24,850 levels.

For the banking index, he sees a higher zone at 53,775-53,875 levels and a profit-booking zone at 53,975-54,150 levels.

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

  • Nifty intraday and closing stop loss at 24,450
  • Nifty Bank intraday and closing stop loss at 53,150

For existing short positions:

  • Nifty intraday and closing stop loss at 24,750
  • Nifty Bank intraday stop loss at 53,900 and closing stop loss at 53,650

For new positions in Nifty50:

  • The best range to buy Nifty is 24,400-24,500 with a stop loss at 24,350 for targets of 24,575, 24,625, 24,675, 24,700, 24,750 and 24,850
  • Aggressive traders can sell Nifty in the 24,700-24,850 range with a strict stop loss at 24,900 for targets of 24,675, 24,625, 24,575, 24,525 and 24,465

For new positions in Nifty Bank:

  • The best range to buy Nifty Bank is 53,175-53,325 with a stop loss at 53,000 for targets of 53,400, 53,500, 53,575, 53,625, 53,775 and 53,850
  • Aggressive traders can buy Nifty Bank with a strict stop loss at 53,250 for targets of 53,775, 53,875, 53,950, 54,025, 54,100, 54,150 and 54,250
  • Aggressive traders can sell Nifty Bank in the 53,850-54,000 range with a strict stop loss at 54,250 for targets of 53,775, 53,600, 53,525, 53,425, 53,325, 53,275 and 53,175

Stocks in F&O Ban ​

  • New in ban: Metropolis
  • Already in ban: PVR Inox, RBL Bank, Granules India, Manappuram Finance
  • Out of ban: None

Stocks of the Day

Buy Infosys futures with a stop loss at Rs 1,930 for targets of Rs 1,970 and Rs 1,995

  • IT stocks looking strong
  • Axis Capital has a 'buy' call on Infosys with a raised target of Rs 2,050 instead of the Rs 1,790 earlier 

Buy D-Mart futures at strong support levels 

  • Stock in F&O now
  • Goldman Sachs target at Rs 3,400
  • Stock may remain weak  
  • Q3 results will be weak
  • Invest in on dips till Q3 results
  • Support at Rs 3,690 and Rs 3,730
  • Higher levels at Rs 3,950 and Rs 4,010

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