Anil Singhvi strategy December 11: Important levels to track in Nifty50, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees a strong buy zone in the headline Nifty50 index emerging at 20,850-20,950 levels and a blue-sky zone above 21,025 on Monday, December 11. For the Nifty Bank, he expects a strong buy zone at 46,800-47,000 levels and a blue-sky zone above 47,350.

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

• Global: Positive

• FII: Positive

• DII: Negative

• F&O: Neutral

• Sentiment: Positive

• Trend: Positive

Singhvi expects a higher zone for the Nifty at 20,940-21,000 levels and a blue-sky zone above the 21,000 mark. For the banking index, he sees a higher zone coming in at 46,925-47,000 levels and a profit-booking zone above the 47,200-47,250 band.

ANIL SINGHVI MARKET STRATEGY 

• FII index longs at 58 per cent vs 57 per cent the previous day
• Nifty put-call ratio (PCR) at 1.20 vs 1.34
• Nifty Bank PCR at 1.25 vs 1.03
• Volatility index India VIX down 1.5 per cent at 12.47

The market wizard suggests adopting a 'buy on dips' strategy at key support levels, amid stability in crude oil, bond yields and global markets, and mixed trends from FIIs and DIIs. He also points out three mega block deals amounting to Rs 7,000 crore on Friday.

Singhvi believes that the market should be ready to scale a new peak after a lacklustre start to the day, with the banking space looking strong and prepared to stage a breakout. 

आज फिर बनेगा नया HIGH? 
⁰
क्या आज गाड़ी भाई (BANK NIFTY) चलाएगा? #StockMarket #GiftNifty #Nifty #BankNifty pic.twitter.com/EzCcOHP6OJ

— CA Anil Singhvi Zee Business (@AnilSinghvi_) December 11, 2023

For existing long positions:

• Nifty intraday and closing stop loss at 20,800

• Nifty Bank intraday stop loss at 47,000 and closing stop loss at 46,800

For existing short positions:

• Nifty intraday and closing stop loss at 21,025

• Nifty Bank intraday closing stop loss at 47,350

For new positions in Nifty:

• The best range to buy Nifty is at 20,850-20,950, with a stop loss at 20,675 for a target of 21,000; a blue-sky zone above 21,025 

• Aggressive traders can sell Nifty only if it breaks 20,850 with a strict stop loss at 21,025 for targets of 20,800, 20,725 and 20,675

For new positions in Nifty Bank:

• The best range to buy Nifty Bank is at 46,800-47,000 levels, with a stop loss at 46,650 for targets of 47,250, 47,300; a blue-sky zone above 47,350 

• Aggressive traders can buy Nifty Bank with a strict stop loss at 47,000; keep a trailing stop loss above 47,350 and hold for a higher target

• Aggressive traders can sell Nifty Bank only if it breaks 46,800, with a strict stop loss at 47,000 for targets of 46,750, 46,650, 46,500 and 46,425

F&O ban update

• New in ban: Hindustan Copper

• Already in ban: Balrampur Chini, NALCO, SAIL, Delta Corp, Indiabulls Housing Finance, Zee Entertainment Enterprises

• Out of ban: India Cements

Stocks of the day

Buy Subros shares with a stop loss at Rs 444 for targets of Rs 460, Rs 465 and Rs 470

• AC compulsory in truck drivers cabin from 2025
• Wins Rs 25 crore order deal from the Railways

Buy Lloyd Metals shares with a stop loss at Rs 603 for targets of Rs 623, Rs 630 and Rs 640

• Board approved big expansion plan

Buy Saregama shares with a stop loss at Rs 367 for targets of Rs 380, Rs 385 and Rs 388

• Entertainment stocks looking good
• Strong buying interest from investors

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