Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support to emerge at 24,075-24,125 levels and a stronger support zone at 23,900-23,950 for the headline Nifty50 index on Wednesday, November 27. For the Nifty Bank, he expects support at 51,775-51,925 levels and a stronger support zone at 51,500-51,675 levels.

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

  • Global: Positive
  • FII: Neutral
  • DII: Neutral
  • F&O: Neutral
  • Sentiment: Neutral
  • Trend: Neutral
  • FII long positions at 35 per cent vs 37 per cent before the previous session
  • Nifty put-call ratio (PCR) at 1.04 vs 1.11
  • Nifty Bank PCR at 1.20 vs 1.28
  • Volatility index India VIX unchanged at 15.31

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

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.

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 stop loss at 51,925 and closing stop loss at 51,750

For existing short positions:

  • Nifty intraday stop loss at 24,400 and closing stop loss at 24,500
  • Nifty Bank intraday stop loss at 52,600 and closing stop loss at 52,500

For new positions in Nifty50:

  • The best range to buy Nifty is 23,950-24,075 with a stop loss at 23,850 for targets of 24,125, 24,225, 24,300, 24,350, 24,400, 24,465 and 24,500
  • Exit all longs and create fresh short positions if the index closes below 23,900 
  • Aggressive traders can sell Nifty in the 24,350-24,500 range with a strict stop loss at 24,550 for targets of 24,300, 24,225, 24,175, 24,125, 24,075 and 24,000
  • 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 51,925 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 long positions if it closes above 52,500 

Stocks in F&O Ban 

  • Out of ban: GNFC, Aarti Industries, Granules India
  • New in ban: None
  • Already in ban: None

Siemens Results Review

  • Results better than estimates
  • Stock has run up two days prior to results
  • Bullish on capital goods
  • Support at Rs 7,110, a higher level at Rs 7,475
  • Buy near support if the stock gives a strong breakout

Stock of the Day

Buy HPCL futures for targets of Rs 384, Rs 388 and Rs 395 with a stop loss at Rs 373 

  • Crude will not go up due to Israel ceasefire 

Buy Ola Electric shares for targets of Rs 75, Rs 76.5 and Rs 78 with a stop loss at Rs 71.5

  • The stock has seen a deep correction from Rs 120 
  • The risk-reward ratio looks favourable near Rs 70 
  • The company has launched S1 Z and Gig electric scooters

What to expect in NTPC Green Energy listing today?

The market guru expects the stock to list near the issue price of its IPO, at Rs 108. 

He suggests short-term investors to keep a suitable stop loss below the issue price, warning them against expecting big gains in the short term. 

"This is a 2-3 years story in renewable energy," he points out. 

Earlier, Singhvi suggested applying for the IPO from a three-years perspective.

Catch all the latest stock market updates here. For all other news related to business, market, tech and auto, visit Zeebiz.com.