Anil Singhvi strategy December 15: 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 21,000-21,075 levels and a blue-sky zone above 21,225 on Friday, December 15. For the Nifty Bank, he expects support at 47,450-47,575 levels and a strong buy zone in the 47,200-47,325 band.

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 Bank at 47,950-48,000 levels and a blue-sky zone above 48,050.

ANIL SINGHVI MARKET STRATEGY 

• FII index longs at 57 per cent vs 58 per cent the previous day
• Nifty put-call ratio (PCR) at 1.37 vs 0.96
• Nifty Bank PCR at 1.01 vs 0.99
• Volatility index India VIX up 2.11 per cent at 12.32

#EditorsTake : ग्लोबल, लोकल संकेत कैसे हैं?

बाजार में कम से कम 6 महीने तक क्यों HOLD करना है?

#Midcap की तेजी रहेगी जारी?

आज के लिए स्ट्रैटेजी देखें @AnilSinghvi_ के साथ#StockMarketindia #TradingTips #AnilSinghvi

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— Zee Business (@ZeeBusiness) December 15, 2023

The market wizard recommends a 'buy on every dip' strategy on Dalal Street as he expects the Nifty50 and the Nifty Bank to stage fresh breakouts above 21,225 and 48,050 levels, respectively. He expects fresh highs in the market amid strong global and domestic cues, with buying interest in midcap and smallcap stocks expected to strengthen further. 

Singhvi recommends traders to hold on to their positions firmly and avoid exiting in a rush. 

For existing long positions:

• Nifty intraday stop loss at 21,000 and closing stop loss at 20,900

• Nifty Bank intraday and closing stop loss at 47,450

For existing short positions:

• Nifty intraday and closing stop loss at 21,225

• Nifty Bank intraday stop loss at 48,050 and closing stop loss at 47,750

For new positions in Nifty:

• The best range to buy Nifty is 21,000-21,075 with a stop loss at 20,900 for targets of 21,175 and 21,200; one should keep a trailing stop loss above 21,225 and hold for a higher target

• No advice to sell Nifty unless it closes below 20,850

For new positions in Nifty Bank:

• The best range to buy Nifty Bank is 47,325-47,525 with a stop loss at 47,100 for targets of 47,575, 47,725, 47,925 and 48,000; one should keep a trailing stop loss above 48,050 and hold for a higher target

• No advice to sell Nifty Bank unless it closes below 46,800

What has changed on Wall Street?

• Crude oil at $75/barrel instead of $97/barrel
• Bond yield below 4 per cent instead of 5.2 per cent
• Dollar index below 102 instead of 108 

Dow may rise even more

• US equities have risen for eight days in a row
• Bond yield below 4 per cent and dollar index below 102 are big positives
• Dow has the potential to stage a strong move
• Dow target stands at 38,500-39,000 
• Dow may rise at a slower pace but trend remains positive
• First rate cut in the US in the current cycle will trigger a surge in Dow

F&O ban update

• New in ban: SAIL, Manappuram Finance

• Out of ban: NALCO

• Already in Ban: Zee Entertainment Enterprises, India Cements, Hindustan Copper, Balrampur Chini, Delta Corp, Indiabulls Housing Finance

Stocks of the day

Buy Anant Raj shares with a stop loss at Rs 290 for targets of Rs 305 and Rs 311

• The company is raising Rs 75 crore through equity and warrants
• Promoters and big names are investing in the company

Buy Biocon futures with a stop loss at Rs 244 for targets of Rs 255 and Rs 260

• The company may sell its API business to reduce debt
• The API business is valued at $1.5 billion

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