Anil Singhvi strategy December 22: 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 21,150-21,200 levels and a strong buy zone at 20,975-21,075 levels on Friday, December 22. For the Nifty Bank, he expects support at 47,450-47,650 levels and a strong buy zone in the 47,200-47,375 range.

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

• Global: Positive

• FII: Negative

• DII: Positive

• F&O: Neutral

• Sentiment: Neutral

• Trend: Positive

Singhvi expects a higher zone in the Nifty50 at 21,300-21,375 levels and a strong sell zone at 21,400-21,450 levels. For the banking index, he sees a higher zone emerging at 47,925-48,075 levels and a strong sell zone at 48,150-48,225 levels. 

ANIL SINGHVI MARKET STRATEGY 

• FII index longs at 67 per cent vs 65 per cent the previous day
• Nifty put-call ratio (PCR) at 1.11 vs 0.66
• Nifty Bank PCR at 1.22 vs 0.80
• Volatility index India VIX down 4.79 per cent at 13.76

The market wizard points out that there are mixed domestic and global signals in place for Dalal, following a strong season on Wall Street but Dow futures looking weak. He says that the market has regained some confidence after some buying on Thursday but the sharp fall the previous day continues to worry investors. 

Domestic funds are buying but heavy selling by foreign institutional investors persists on Dalal Street, says Singhvi, who believes traders will get ample opportunities on both sides ahead of the long weekend ahead owing to the Christmas holiday on Monday. 

He suggests market participants exercise caution, and refrain from being too fearful or being overconfident.

The market guru sees levels of 20,850-21,000 as an apt range to buy the Nifty and 21,400-21,575 as suitable for selling. 

#StockMarket | क्या अगले 5 दिन है पैसे लगाने का बड़ा मौका? #MerryChristmas #TradingView pic.twitter.com/ui94obdgw4

— CA Anil Singhvi Zee Business (@AnilSinghvi_) December 22, 2023

For existing long positions:

• Nifty intraday stop loss at 20,975 and closing stop loss at 21,150

• Nifty Bank intraday stop loss at 47,650 and closing stop loss at 47,450

For existing short positions:

• Nifty intraday stop loss at 21,325 and closing stop loss at 21,450

• Nifty Bank intraday stop loss at 48,100 and closing stop loss at 48,000

For new positions in Nifty:

• Buy Nifty in the 21,075-21,150 zone with a stop loss at 20,975 for targets of 21,200, 21,250, 21,275, 21,325, 21,375 and 21,425

• Sell Nifty in the 21,325-21,425 range with a stop loss at 21,500 for targets of 21,250, 21,200, 21,150, 21,075 and 21,025

For new positions in Nifty Bank:

• Buy Nifty Bank in the 47,450-47,650 range with a stop loss at 47,200 for targets of 47,725, 47,800, 47,850, 47,925, 48,000, 48,075 and 48,150

• Sell Nifty Bank in the 48,000-48,150 range with a stop loss at 48,250 for targets of 47,925, 47,850, 47,725, 47,650, 47,525 and 47,450

F&O ban update

• New in ban: Hindustan Copper

• Out of ban: NALCO, Piramal Enterprises, Indus Tower

• Already in ban: India Cements, Ashok Leyland, Delta Corp, RBL Bank, SAIL, Manappuram Finance, Balrampur Chini

Stocks of the day

Buy 360 ONE WAM 

• Company set to benefit from bull run in ultra HNI segment
• Citi has raised target from Rs 615 to Rs 750

Buy LIC shares with a stop loss at Rs 745 for targets of Rs 770, Rs 775 and Rs 785

• LIC gets more time to comply with minimum public holding norms
• Company will have to maintain minimum public shareholding of 25 per cent in the next 10 years
• Time given till May 2032 to achieve minimum 25 per cent public shareholding

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