Anil Singhvi strategy December 20: 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 21,375-21,425 levels and a strong buy zone at 21,235-21,335 levels on Wednesday, December 20. For the Nifty Bank, he expects support at 47,650-47,750 levels and a strong buy zone in the 47,375-47,500 range.

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

• Global: Positive

• FII: Neutral

• DII: Neutral

• F&O: Neutral

• Sentiment: Positive

• Trend: Positive

Singhvi expects a higher zone in the Nifty50 at 21,500 and a blue-sky zone above 21,525. For the banking index, he sees a higher zone emerging at 48,000-48,150 levels and a blue-sky zone above 48,225. 

ANIL SINGHVI MARKET STRATEGY 

• FII index longs at 62 per cent vs 60 per cent the previous day
• Nifty put-call ratio (PCR) at 1.13 vs 1.12
• Nifty Bank PCR at 0.90 vs 0.89
• Volatility index India VIX largely unchanged at 13.87

The market wizard expects fresh record highs owing to strength on Wall Street, following two days of consolidation on Dalal Street, with significant action expected in midcap and smallcap stocks. He suggests investors hold on to their positions firmly.

Any weakness in the indices should be considered as an opportunity to buy with support for the Nifty50 placed at 21,175-21,250 in the very short term, Singhvi points out. 

For existing long positions:

• Nifty intraday and closing stop loss at 21,300

• Nifty Bank intraday and closing stop loss at 47,600

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:

• Buy Nifty with a stop loss at 21,300 for a target of 21,500; above 21,525, one may keep a trailing stop loss and hold for a higher target

• Aggressive traders can sell Nifty only if it gives up 21,300 with a strict stop loss at 21,500 for targets of 21,250, 21,200, 21,175, 21,075 and 21,025

For new positions in Nifty Bank:

• Buy Nifty Bank with a stop loss at 47,600 for targets of 48,000, 48,075, 48,150 and 48,200; above 48,250, one may keep a trailing stop loss and hold for a higher target

• Aggressive traders can sell Nifty Bank in the 48,150-48,225 range with a strict stop loss at 48,300 for targets of 48,075, 48,000, 47,875, 47,800, 47,725 and 47,650

F&O ban update

• New in ban: Delta Corp, RBL Bank, IRCTC, Indus Tower, Piramal Enterprises

• Out of ban: Hindustan Copper, India Cements

• Already in ban: NALCO, SAIL, Manappuram Finance, Zee Entertainment Enterprises, Balrampur Chini

Stocks of the day

Buy Varun Beverages shares with a stop loss at Rs 1,144 for targets of Rs 1,200 and Rs 1,225

• The company to acquire a South African company for Rs 1,320 crore
• CLSA has upgraded the stock to 'buy' from 'outperform' and raised its target to Rs 1,419 from Rs 1,070

What to expect from two listings today?

India Shelter Finance 

• Expected to list in the Rs 640-660 range as against the issue price of Rs 493
• Investors can hold with a stop loss at Rs 600 and keep trailing

DOMS 

• Expected to list in the Rs 1,275-1,300 range as against the issue price of Rs 790
• Investors should keep a strict stop loss at Rs 1,225

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