Anil Singhvi Market Strategy November 26: Important levels to track in Nifty50, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support to emerge at 24,075-24,150 for the headline Nifty50 index and a strong buy zone 23,900-24,000 levels on Tuesday, November 26. For the Nifty Bank, he expects support at 51,775-51,925 levels and a strong buy zone at 51,500-51,675 levels.

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

• Global: Positive

• FII: Positive

• DII: Negative

• F&O: Neutral

• Sentiment: Positive

• Trend: Neutral

• FII long positions at 37 per cent vs 31 per cent before Monday's session

• Nifty put-call ratio (PCR) at 1.11 vs 1.19

• Nifty Bank PCR at 1.28 vs 1.15

• Volatility index India VIX down 3 per cent at 15.56

The market wizard sees a higher zone for the headline index at 24,300-24,400 levels and a profit-booking zone at 24,425-24,525 levels.

For the banking index, he sees a higher zone at 52,325-52,500 levels and a profit-booking zone at 52,575-52,750 levels.

Can global markets boost Dalal Street now?

• Wall Street is scaling fresh peaks one after another
• Dow target at 46,000-48,000
• Dow futures looking slightly weak due to fears about stricter tariff and immigration rules
• No need to fear
• Easing of tensions between Israel and Lebanon a good sign
• All in all, positive signals for Dalal Street

What to do in case of a lacklustre start?

• A muted start, in line with GIFT Nifty trends, is unlikely
• Use the absence of a gap-up start as a buying opportunity
• Strong support for Nifty50 at 23,900-24,075 and for Nifty Bank at 51,125-51,275
• The next big targets are placed at 24,400-24,525 and 52,500 respectively 
• Once Nifty Bank sustains above 52,500, its next target is placed at 53,825-53,975 

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

• Nifty intraday stop loss at 24,100 and closing stop loss at 23,900
• Nifty Bank intraday and closing stop loss at 51,750

For existing short positions:

• Nifty intraday and closing stop loss at 24,400
• Nifty Bank intraday and closing stop loss at 52,500

For new positions in Nifty50:

• The best range to buy Nifty is 24,000-24,150 with a stop loss at 23,900 for targets of 24,125, 24,225, 24,350, 24,400, 24,435, 24,465 and 24,500

• Aggressive traders can sell Nifty in the 24,400-24,500 range with a strict stop loss at 24,550 for targets of 24,350, 24,300, 24,225, 24,175, 24,125 and 24,075; cut all shorts and create fresh long positions if it closes above 24,550 

For new positions in Nifty Bank:

• The best range to buy Nifty Bank is 51,775-51,925 with a stop loss at 51,650 for targets of 52,000, 52,075, 52,200, 52,325 and 52,500

• Aggressive traders can buy Nifty Bank with a strict stop loss at 51,950 for targets of 52,325, 52,500, 52,575, 52,675, 52,750, 52,825 and 52,950

• Aggressive traders can sell Nifty Bank near 52,500 with a strict stop loss at 52,600 for targets of 52,325, 52,200, 52,100, 52,000, 51,875 and 51,800; cut all shorts and create fresh longs if it closes above the 52,500 mark 

Stocks in F&O Ban 

• Out of ban: Adani Enterprises, NALCO, IGL, Hindustan Copper
• Already in ban: GNFC, Aarti Industries, Granules India
• New in ban: None

Stocks of the Day

Buy Swiggy shares for targets of Rs 435, Rs 440 and Rs 450 with a stop loss at Rs 417 

• New-age platform companies looking very strong
• UBS initiates coverage with 'buy' rating with a target of Rs 515

Buy Hitachi Energy shares for targets of Rs 12,000, Rs 12,150 and Rs 12,300 with a stop loss at Rs 11,700 

• Hitachi Energy and BHEL have won 6,000 MW projects

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