Anil Singhvi strategy December 12: 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 21,050 on Tuesday, December 12. For the Nifty Bank, he expects strong support at 47,000-47,200 levels and a strong buy zone at 46,750-46,850 levels.

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 Bank coming in at 47,500-47,575 levels and a blue-sky zone above 47,600.

ANIL SINGHVI MARKET STRATEGY 

• FII index longs at 57 per cent vs 58 per cent the previous day
• Nifty put-call ratio (PCR) at 1.14 vs 1.20
• Nifty Bank PCR at 1.03 vs 1.25
• Volatility index India VIX up 2.5 per cent at 12.76

The market wizard suggests a 'buy on every dip' strategy on Dalal Street for the day, with the market ready to scale new heights amid strong global cues and mild FII inflows. 

He expects strong buying to emerge in midcap and smallcap segments. 

#EditorsTake

HOLD करना क्यों है Important?#AnilSinghvi ने क्यों कहा- ये मार्केट तेजी करने का है?

Cash मार्केट में बनेगा पैसा?#Midcap-#SmallCap में होगी और तेजी?

जानिए इस वीडियो में अनिल सिंघवी से...#ShareMarket @AnilSinghvi_#WhatsAppChannel - https://t.co/Io7LdaWii1 pic.twitter.com/4okMZFXP8V

— Zee Business (@ZeeBusiness) December 12, 2023

For existing long positions:

• Nifty intraday and closing stop loss at 20,850
  Nifty Bank intraday and closing stop loss at 47,000

For existing short positions:

• Nifty intraday and closing stop loss at 21,050

• Nifty Bank intraday closing stop loss at 47,600

For new positions in Nifty:

• The best range to buy Nifty is 20,850-20,950 with a stop loss at 20800 for targets of 21,000 and 21,025; above 21,050, keep a trailing stop loss and hold for a higher target

• 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 20,700

For new positions in Nifty Bank:

• The best range to buy Nifty Bank is 47,000-47,200 with a stop loss at 46,750 for targets of 47,250, 47,300, 47,475 and 47,575

• Aggressive traders can buy Nifty Bank with a strict stop loss at 47,000 for targets of 47,475 and 47,575; above 47,600, keep a trailing stop loss and hold for a higher target

• Aggressive traders can sell Nifty Bank only if it breaks 47,000, with a strict stop loss at 47,300 for targets of 46,925, 46,850, 46,800, 46,750, 46,650 and 46,500

F&O ban update

• New in ban: India Cements

• Already in ban: Hindustan Copper, Balrampur Chini, NALCO, SAIL, Delta Corp, Indiabulls Housing Finance

• Out of ban: Zee Entertainment Enterprises

Stocks of the day

Buy Spandana Sphoorty shares with a stop loss at Rs 1,000 for targets of Rs 1,030, Rs 1,040 and Rs 1,055

• The company has given a strong growth outlook for the next five years
• AUM target to increase from Rs 7,000 crore to Rs 28,000 crore for FY28

Buy Indian Bank shares with a stop loss at Rs 425 for targets of Rs 436, Rs 440 and Rs 445

• PSU banks looking very strong
• Indian Bank may come out with QIP

Buy Dr Reddy’s futures with a stop loss at Rs 5,450 for targets of Rs 5,545, Rs 5,590 and Rs 5,625

• The market overreacted on the news of USFDA observations 
• The stock to recover from lows in strong pharma rally

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