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 24,125-24,225 levels for the headline Nifty50 index on Thursday, December 5. For the Nifty Bank, he expects support at 52,775-52,925 levels and a strong buy zone at 52,500-52,675 levels.

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

  • Global: Positive
  • FII: Neutral
  • DII: Neutral
  • F&O: Neutral
  • Sentiment: Positive
  • Trend: Neutral
  • FII long positions at 38 per cent vs 36 per cent before Wednesday's session
  • Nifty put-call ratio (PCR) at 1.14 vs 1.29
  • Nifty Bank PCR at 1.12 vs 1.02
  • Volatility index India VIX up one per cent at 14.45

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The market wizard sees a higher zone for the headline index at 24,500-24,575 levels and a profit-booking zone at 24,600-24,675 levels.

For the banking index, he sees a higher zone at 53,375-53,500 levels and a profit-booking zone at 53,775-53,925 levels.

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

  • Nifty intraday stop loss at 24,350 and closing stop loss at 24,250
  • Nifty Bank intraday and closing stop loss at 52,650

For existing short positions:

  • Nifty intraday stop loss at 24,600 and closing stop loss at 24,500
  • Nifty Bank intraday and closing stop loss at 53,500

For new positions in Nifty50:

  • The best range to buy Nifty is 24,275-24,350 with a stop loss at 24,200 for targets of 24,435, 24,465, 24,500, 24,575, 24,600 and 24,650
  • 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, 24,465, 24,435, 24,400, 24,350 and 24,275

For new positions in Nifty Bank:

  • The best range to buy Nifty Bank is 52,675-52,775 with a stop loss at 52,500 for targets of 52,925, 53,000, 53,100, 53,175, 53,250 and 53,375
  • Aggressive traders can buy Nifty Bank with a strict stop loss at 52,900 for targets of 53,375, 53,475, 53,725, 53,825, 53,925 and 53,975
  • The best range to sell Nifty Bank is 53,725-53,925 with a stop loss at 54,075 for targets of 53,500, 53,400, 53,275, 53,175, 53,100 and 53,000

Stocks in F&O Ban ​

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

Stocks of the Day

Buy Indus Towers futures with a stop loss at Rs 351 for targets of Rs 368, Rs 375 and Rs 382

  • Vodafone PLC selling 3 per cent stake
  • With this block deal, selling will be over
  • The stock is trading at a very attractive level

Buy Vodafone Idea futures with a stop loss at Rs 8.35 for targets of Rs 8.65, Rs 8.9 and Rs 9.1 

  • The board meeting is on Dec 9
  • The company may allot stocks worth Rs 2,000 crore to promoters
  • Vodafone PLC may use the block deal money to invest in Idea
  • In turn, Idea will repay its debt owed to Indus Towers

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