Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support to emerge at 24,275-24,350 levels and a strong buy zone at 24,150-24,225 levels for the headline Nifty50 index on Wednesday, December 4. For the Nifty Bank, he expects support at 52,325-52,550 levels and a strong buy zone at 52,075-52,200 levels.

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

  • Global: Positive
  • FII: Positive
  • DII: Neutral
  • F&O: Neutral
  • Sentiment: Positive
  • Trend: Neutral
  • FII long positions at 36 per cent vs 33 per cent before Tuesday's session
  • Nifty put-call ratio (PCR) at 1.29 vs 1.22
  • Nifty Bank PCR at 1.02 vs 0.86
  • Volatility index India VIX down two per cent at 14.37

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The market wizard sees a higher zone for the headline index at 24,500-24,600 levels and a profit-booking zone at 24,650-24,775 levels.

For the banking index, he sees a higher zone at 52,950-53,100 levels and a profit-booking zone at 53,175-53,350 levels.

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

  • Nifty intraday and closing stop loss at 24,250
  • Nifty Bank intraday stop loss at 52,450 and closing stop loss at 52,000

For existing short positions:

  • Nifty intraday and closing stop loss at 24,525
  • Nifty Bank intraday and closing stop loss at 52,800

For new positions in Nifty50:

  • The best range to buy Nifty is 24,300-24,400 with a stop loss at 24,250 for targets of 24,500, 23,575, 24,600, 24,650, 24,675 and 24,725
  • Aggressive traders can sell Nifty in the 24,575-24,675 range with a strict stop loss at 24,800 for targets of 24,500, 24,450, 24,400, 24,350, 24,300 and 24,275  

For new positions in Nifty Bank:

  • The best levels to buy Nifty Bank are 52,550 and 52,325 with a stop loss at 52,150 for targets of 52,700, 52,775, 52,950, 53,100, 53,175, 53,225 and 53,350
  • Aggressive traders can sell Nifty Bank in the 52,975-53,175 range with a strict stop loss at 53,350 for targets of 52,800, 52,700, 52,550, 52,450, 52,325 and 52,200

Stocks in F&O Ban ​

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

Stocks of the Day

Buy HAL futures with a stop loss at Rs 4,480 for targets of Rs 4,590, Rs 4,635 and Rs 4,690

Buy BEL futures with a stop loss at Rs 307 for targets of Rs 317 and Rs 322

DAC has given approval for procurements worth Rs 21,800 crore 

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