Anil Singhvi strategy December 22: Important levels to track in Nifty50, Nifty Bank today
Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi shares his strategy for todays session. Check out his take on key support and resistance levels for the Nifty and the Nifty Bank, and how he views the market.
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.
stock market updates here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.