Anil Singhvi strategy December 19: 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 21,300-21,365 levels and a strong buy zone at 21,175-21,235 levels on Tuesday, December 19. For the Nifty Bank, he expects support at 47,525-47,725 levels and a strong buy zone in the 47,200-47,375 range.

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

• Global: Neutral

• FII: Neutral

• DII: Neutral

• F&O: Neutral

• Sentiment: Positive

• Trend: Positive

Singhvi expects a higher zone in the Nifty50 at 21,475-21,500 levels and a blue-sky zone above 21,550, and in the banking index at 48,000-48,150 and above 48,250 levels, respectively. 

ANIL SINGHVI MARKET STRATEGY 

• FII index longs unchanged at 60 per cent as the previous day
• Nifty put-call ratio (PCR) at 1.12 vs 1.47, near overbought levels
• Nifty Bank PCR at 0.89 vs 1.12
• Volatility index India VIX up 5.88 per cent at 13.90

The market wizard believes that the market is in a mood to consolidate, following a one-way rally, amid mixed global and domestic signals and significant action in the primary market. He suggests investors utilise any weakness on Dalal Street to buy. 

He points out three important levels for the market at the current juncture: 

• Very short-term support for Nifty50 at 21,175-21,250 levels
• Medium-term support at 21,000-21,075
• Support for positional investors at 20,700-20,850 

Singhvi is of the view that a closing below 20,850 for the Nifty will warrant a change in the current trend. 

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 21,550

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

For new positions in Nifty:

• The best levels to buy Nifty are 21,365 and 21,250 with a stop loss at 21,150 for targets of 21,400, 21,425 and 21,475; above 21,525, one may keep a trailing stop loss and hold for a higher target

• Aggressive traders can sell Nifty with a strict stop loss at 21,550 for targets of 21,365, 21,300, 21,250, 21,200 and 21,175

For new positions in Nifty Bank:

• The best range to buy Nifty Bank is 47,375-47,575 with a stop loss at 47,200 for targets of 47,725, 47,800, 47,875, 48,000, 48,075, 48,150 and 48,200

• Aggressive traders can sell Nifty Bank in the 48,000-48,200 range with a strict stop loss at 48,300 for targets of 47,875, 47,800, 47,725, 47,600, 47,525 and 47,375

F&O ban update

• New in ban: NALCO

• Out of ban: Delta Corp

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

Stocks of the day

Buy Sansera Engineering shares with a stop loss at Rs 936 for targets of Rs 965, Rs 975 and Rs 990

• Auto ancillary stocks looking good
• Stock trading at attractive valuations

Buy Dixon Tech shares with a stop loss at Rs 6,240 for targets of Rs 6,355, Rs 6,395 and Rs 6,445

• CLSA maintains 'outperform' rating, raises target price to Rs 7,070 from Rs 5,675

Buy India Glycols shares with a stop loss at Rs 690 for targets of Rs 715, Rs 722 and Rs 730

• The company has received orders worth Rs 1,164 crore from OMCs

Buy Devyani International shares with a stop loss at Rs 180 for targets of Rs 187, Rs 190 and Rs 194

• The company has entered the Thailand market

Stock of The Day

आज #AnilSinghvi ने India Glycols और Devyani International में दी खरीदारी की राय?

क्या है स्टॉपलॉस और टार्गेट्स? देखिए इस वीडियो में...@AnilSinghvi_#Stockoftheday #StockMarket pic.twitter.com/tzfc18xLoM

— Zee Business (@ZeeBusiness) December 19, 2023

Should you apply for the Happy Forgings IPO?

The market wizard has identified the following key points about the company: 

Positive:

• Experienced promoters
• Regular capex for strong growth
• Impressive financial growth record highest margins in peers
• Valuations reasonable

Negative

• High working capital requirements
• Difficult to find any big negative in the co.

Singhvi suggests investors must apply for a big listing gain as well as for the long term.

#IPOAlert

 आज 3 और नए IPO खुलेंगे - किसमें लगाएं पैसा? #IPOToInvest #StockMarket @ZeeBusiness pic.twitter.com/DYqrtc4CHC

— CA Anil Singhvi Zee Business (@AnilSinghvi_) December 19, 2023

Should you subscribe to the Credo Brands IPO?

Singhvi says investors must apply for a good listing gain and for the long term. 

Positive:

• Experienced promoters
• Strong brand and reach
• Asset light model
• Impressive growth track record
• Positive cash flows with dividends 

Negative:

• Huge competition, no entry barriers
• High inventory and working capital days
• Full OFS (no money will go to the company)

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