Anil Singhvi strategy December 1: Important levels to track in Nifty50, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty50 index emerging at 20,000-20,050 levels and a strong buy zone at 19,875-19,950 levels on Friday, December 1, the first day of the new monthly F&O series. For the Nifty Bank, he expects support to come in at 44,150-44,250 levels and a strong buy zone at 43,950-44,075 levels.

Here's how Anil Singhvi sums up the market setup:

• Global: Positive

• FII: Positive

• DII: Negative

• F&O: Positive

• Sentiment: Positive

• Trend: Positive

Singhvi expects a higher zone for the Nifty50 at 20,165-20,225 and a blue sky zone beyond those levels. For the banking index, he sees a higher zone emerging 44,750-44,875 levels and a profit-booking zone at 44,950-45,075 levels.

ANIL SINGHVI MARKET STRATEGY 

The market wizard points out that Dalal Street is ready to scale a new high amid strong domestic GDP data, positive signals from Wall Street and robust FII inflows. The wait before the outcome of elections in Chhattisgarh, Rajasthan, Madhya Pradesh, Telangana and Mizoram is likely to limit the upside in the market on Friday, he says. 

Singhvi also highlights the government’s initial approval to defence acquisition projects worth Rs 2.23 lakh crore as a positive signal for the market. He expects strong support for the Nifty and the Nifty Bank at 19,875-20,025 and 43,875-44,000 levels, respectively. 

• FII index long positions at 36 per cent vs 29 per cent the previous day

• Nifty put-call ratio (PCR) 1.26 vs 1.47

• Nifty Bank PCR 1.02 vs 1.54

• Volatility index India VIX flat at 12.69

For existing long positions:

• Nifty intraday and closing stop loss at 19,950

• Nifty Bank intraday and closing stop loss at 44,150

For existing short positions:

• Nifty intraday and closing stop loss at 20,225

• Nifty Bank intraday and closing stop loss at 44,800

For new positions in Nifty:

• Buy Nifty with a stop loss at 19,950 for targets of 20,165, 20,190, 20,225, and a blue-sky zone above 20,225 

For new positions in Nifty Bank:

• The best range to buy Nifty Bank is at 44,075-44,250 levels with a stop loss at 43,950 for targets of 44,350, 44,400, 44,475, 44,575, 44,625 and 44,750

• Aggressive traders can buy Nifty Bank with a stop loss at 44,200 for targets of 44,575, 44,625, 44,750, 44,825, 44,875, 44,950, 45,000 and 45,075

• Aggressive traders can sell Nifty Bank in the 44,875-45,000 range with a stop loss at 45,150 for targets of 44,775, 44,675, 44,625, 44,575, 44,500 and 44,400

F&O ban update

• New in ban: None

• Already in ban: None

• Out of ban: Hindustan Copper, Manappuram Finance

Exit Poll analysis: What to make of predictions about upcoming state election results

• Exit polls suggest mixed trends; difficult to take a direction on D-Street
• One can view exit poll results as one pleases 
• The real picture to only emerge on Sunday, December 3 

What to expect in December derivatives series (F&O) 

• The market is entering a new monthly series with light positions
• Nifty rollovers very low at 73 per cent
• The December series is generally a mixed bag
• One should adopt a ‘buy on dips’ strategy until the results of elections in five states are declared

Stocks of the day

Buy Delta Corp futures with a stop loss at Rs 140 for targets of Rs 147, Rs 150 and Rs 155

• Interim relief from Kolkata HC in Rs 6,000 crore GST demand

Buy Tilaknagar Industries shares with a stop loss at Rs 250 for targets of Rs 272, Rs 278 and Rs 285

• Promoters get their entire stake de-pledged 

Flair Writing Industries listing preview

Singhvi, who earlier recommended subscribing to the Flair Writing IPO for a listing and and for the long term, expects to list the stock around Rs 425-450 levels as against the issue price of Rs 304. He suggests short-term investors keep a trailing stop loss at Rs 400.

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