Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support to emerge at 24,500-24,575 levels and a strong buy zone at 24,365-24,465 levels for the headline Nifty50 index on Friday, December 6. For the Nifty Bank, he expects support at 53,275-53,375 levels and a strong buy zone at 52,675-52,850 levels.

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

  • Global: Neutral
  • FII: Positive
  • DII: Negative
  • F&O: Neutral
  • Sentiment: Positive
  • Trend: Positive
  • FII long positions at 44 per cent vs 38 per cent before Thursday's session
  • Nifty put-call ratio (PCR) at 1.24 vs 1.14
  • Nifty Bank PCR at 1.13 vs 1.12
  • Volatility index India VIX up 0.5 per cent at 14.53

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The market wizard sees a higher zone for the headline index at 24,775-24,850 levels and a profit-booking zone at 24,900-24,975 levels.

For the banking index, he sees a higher zone at 53,875-54,050 levels and a profit-booking zone at 54,375-54,475 levels.

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

  • Nifty intraday stop loss at 24,575 and closing stop loss at 24,450
  • Nifty Bank intraday and closing stop loss at 53,225

For existing short positions:

  • Nifty intraday and closing stop loss at 24,900
  • Nifty Bank intraday and closing stop loss at 54,000

For new positions in Nifty50:

  • The best range to buy Nifty is 24,500-24,575 with a stop loss at 24,350 for targets of 24,700, 24,775, 24,850, 24,900, 24,950 and 24,975
  • Aggressive traders can sell Nifty in the 24,850-24,950 range with a strict stop loss at 25,000 for targets of 24,775, 24,700, 24,625, 24,575, 24,500 and 24,465

For new positions in Nifty Bank:

  • Aggressive traders can buy Nifty Bank in the 52,675-52,850 range with a strict stop loss at 52,500 for targets of 52,975, 53,100, 53,175, 53,275, 53,375 and 53,600
  • Aggressive traders can sell Nifty Bank in the 53,975-54,250 range with a strict stop loss at 54,500 for targets of 53,900, 53,625, 53,400, 53,275, 53,100 and 53,025

Stocks in F&O Ban ​

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

Stocks of the Day

Buy Borosil Renewables shares with a stop loss at Rs 505 for targets of Rs 520, Rs 526 and Rs 530

  • The government has imposed anti-dumping duty on textured tempered coated and uncoated glass imported from China and Vietnam

Buy IOC futures with a stop loss at Rs 138 for targets of Rs 142, Rs 144 and Rs 146

  • Crude oil rates are stable even after the OPEC+ meeting

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