Anil Singhvi strategy December 18: 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 21,175-21,250 levels and a strong buy zone at 21,000-21,075 levels on Monday, December 18. For the Nifty Bank, he expects support at 47,575-47,750 levels and a strong buy zone in the 47,325-47,500 band.

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

• Global: Positive

• FII: Positive

• DII: Negative

• F&O: Cautious

• Sentiment: Positive

• Trend: Positive

Singhvi expects a blue-sky zone for the 50-scrip benchmark above 21,525. For the banking index, he sees a blue-sky zone coming in above 48,300.

ANIL SINGHVI MARKET STRATEGY 

• FII index longs at 60 per cent vs 57 per cent the previous day
• Nifty put-call ratio (PCR) at 1.47 vs 1.37, near an overbought level
• Nifty Bank PCR at 1.12 vs 1.01
• Volatility index India VIX up 6.5 per cent at 13.13

For existing long positions:

• Nifty intraday stop loss at 21,300 and closing stop loss at 21,175

• Nifty Bank intraday and closing stop loss at 47,700

For existing short positions:

• Nifty intraday and closing stop loss at 21,525

• Nifty Bank intraday and closing stop loss at 48,250

For new positions in Nifty:

• The best range to buy Nifty is 21,175-21,250 levels with a stop loss at 21,150 for targets of 21,300, 21,400, 21,450 and 21,500; once the index is above 21,525, one can keep a trailing stop loss and held for a higher target

• Aggressive traders can sell Nifty with a strict stop loss at 21,550 for targets of 21,400, 21,300, 21,250, 21,200 and 21,075

For new positions in Nifty Bank:

• The best range to buy Nifty Bank is 47,525-47,750 with a stop loss at 47,350 for targets of 48,000, 48,150 and 48,200; above 48,250, one can keep a trailing stop loss and hold for a higher target

• Aggressive traders can sell Nifty Bank with a strict stop loss at 48,300 for targets of 48,000, 47,950, 47,750, 47,600 and 47,525

Bulls may take a breather after seven-week run on Dalal Street

• Usually, one-way rallies last 7-9 weeks followed by consolidation and mild correction
• However, triggers for buying are strong this time around
• Dips may offer opportunities for investors
• Three levels are extremely important:
  • Support at 21,175-21,250 levels for the very short term
  • Support at 21,000-21,075 for the medium term
  • Support for positional investors at 20,700-20,850 levels
• One can expect a change in trend once Nifty50 closes below 20,850 

 क्या 7 हफ्तों की तेजी पर लग सकता है ब्रेक?

Correction में किन लेवल्स पर रखें नजर? #ZeeBusiness #StockMarket #TradingView pic.twitter.com/f8fyOcXEbL

— CA Anil Singhvi Zee Business (@AnilSinghvi_) December 18, 2023

F&O ban update

• Out of ban: Indiabulls Housing Finance

• Already in ban: SAIL, Manappuram Finance, Zee Entertainment Enterprises, India Cements, Hindustan Copper, Balrampur Chini, Delta Corp

• New in ban: None

Should you apply for Sooraj Estate Developers IPO?

Singhvi suggests applying for the upcoming IPO for a reasonable listing gain and for the long term. The market expert has pointed out the following key points about the real estate company: 

Positive

• Real estate sector in bull run
• Experienced promoters
• Niche segment of redevelopment projects
• Impressive financial track record
• Reasonable valuations

Negative

• Focus only on limited area in Mumbai
• Highly competitive market
• Very high finance cost

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