Anil Singhvi strategy December 13: 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 20,700-20,850 levels on Wednesday, December 13. 

For the Nifty Bank, he expects strong support at 46,850-47,000 levels and a strong buy zone at 46,650-46,800 levels.

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

• Global: Positive

• FII: Positive

• DII: Positive

• F&O: Neutral

• Sentiment: Positive

• Trend: Positive

Singhvi expects a higher zone for the Nifty coming in at 20,960-21,025 levels and a blue-sky zone above 21,050. For the banking index, he expects a higher zone at 47,225-47,300 levels and a profit-booking zone above 47,450-47,575 levels. 

ANIL SINGHVI MARKET STRATEGY 

• FII index longs at 60 per cent vs 57 per cent the previous day
• Nifty put-call ratio (PCR) at 0.94 vs 1.14
• Nifty Bank PCR at 0.82 vs 1.03
• Volatility index India VIX unchanged at 12.71

The market wizard suggests investors adopt a 'buy on every dip' strategy as he expects a fresh breakout in the Nifty and the Nifty Bank above 21,050 and 47,600 levels, respectively, amid positive signals from global markets and crude oil, and the return of buying on Dalal Street by FIIs and DIIs. 

He is of the view that closing levels below 20,675 and 46,400 will be the first sign of weakness in the market for positional traders, and 20,850 and 46,800 for short-term traders, respectively.

For existing long positions:

• Nifty intraday and closing stop loss at 20,825

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

For existing short positions:

• Nifty intraday and closing stop loss at 21,050

• Nifty Bank intraday stop loss at 47,500 and closing stop loss at 47,325

For new positions in Nifty:

• The best range to buy Nifty is 20,700-20,850 with a stop loss at 20,650 for targets of 20,900, 20,925, 20,960, 21,000 and 21,025

• Aggressive traders can buy Nifty with a strict stop loss at 20,825 for targets of 20,960, 21,000 and 21,025; they can keep a trailing stop loss above 21,050 and hold for a higher target

• Aggressive traders can sell Nifty near 21,000 with a strict stop loss at 21,050 for targets of 20,970, 20,925, 20,900, 20,875 and 20,850

For new positions in Nifty Bank:

• Buy Nifty Bank in the 46,800-47,000 range with a stop loss at 46,650 for targets of 47,100, 47,175, 47,250, 47,300, 47,450 and 47,575

• Sell Nifty Bank in the 47,450-47,575 range with a stop loss at 47,650 for targets of 47,325, 47,275, 47,200, 47,100 and 47,025

F&O ban update

• New in ban: Zee Entertainment Enterprises

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

• Out of ban: None

Stocks of the day

Buy HPCL futures with a stop loss at Rs 353 for targets of Rs 365 and Rs 370

• The stock has corrected from higher levels
• Likely to benefit from falling crude prices at $73

Buy Indian Bank shares with a stop loss at Rs 430 for targets of Rs 445, Rs 448 and Rs 454

• Indian Bank has launched a QIP at a floor price of Rs 414.44

DOMS Industries IPO preview:

#DOMSIndustriesIPO - आज से 15 दिसंबर तक खुला रहेगा

- प्राइस बैंड : ₹750-790/शेयर

- लॉट साइज: 18 शेयर

देखिए DOMS इंडस्ट्रीज के IPO पर मेरी सलाह यहां https://t.co/jObZDD9UiS#DOMSIndustries #IPOAlert #IPOToInvest pic.twitter.com/HRJ8rbrUb5

— CA Anil Singhvi Zee Business (@AnilSinghvi_) December 13, 2023

The market expert suggests applying for the DOMS Industries IPO for a listing gain. He has identified the following key points about the company: 

Positive

• Strong brand and experienced promoter
• Strong growth track record with market leadership

Negative

• The company is already working on 93 per cent capacity
• Additional capacity will take a long time
• Huge competition
• Reasonable valuation; not very attractive, not very expensive

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