Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support to emerge at 24,125-24,200 levels and a strong buy zone at 23,900-23,950 for the headline Nifty50 index on Thursday, November 28. For the Nifty Bank, he expects support at 51,875-52,000 levels and a stronger support zone at 51,575-51,775 levels.

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

  • Global: Neutral
  • FII: Neutral
  • DII: Positive
  • F&O: Neutral
  • Sentiment: Positive
  • Trend: Neutral
  • FII long positions unchanged at 35 per cent as the previous day
  • Nifty put-call ratio (PCR) at 1.12 vs 1.04
  • Nifty Bank PCR at 1.06 vs 1.20
  • India VIX down 4.5 per cent at 14.63

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The market wizard sees a higher zone for the headline index at 24,350-24,400 levels and a profit-booking zone at 24,425-24,525 levels.

For the banking index, he sees a higher zone at 52,450-52,550 levels and a profit-booking zone at 52,750-52,950 levels.

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

  • Nifty intraday and closing stop loss at 24,100
  • Nifty Bank intraday and closing stop loss at 51,950

For existing short positions:

  • Nifty intraday stop loss at 24,400 and closing stop loss at 24,500
  • Nifty Bank intraday and closing stop loss at 52,550

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 24,200, 24,275, 24,350, 24,400, 24,435, 24,465 and 24,500
  • Exit all longs and create fresh short positions it closes below 23,900 
  • 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, 24,275, 24,225, 24,200, 24,150 and 24,125
  • 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 51,800-52,000 with a stop loss at 51,700 for targets of 52,075, 52,200, 52,300, 52,450, 52,500 and 52,550
  • Aggressive traders can buy Nifty Bank with a strict stop loss at 51,950 for targets of 52,450, 52,550, 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 52,550  

No stock in F&O ban ​

Stock of the Day

Buy Ola Electric shares for a medium-term target of Rs 100-110

  • The stock hit the 20 per cent upper circuit on Wednesday 
  • Keep a 'buy on dips' strategy

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