Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty50 index emerging at 21,575-21,600 levels and a strong buy zone at 21,450-21,500 levels on Thursday, December 28. For the Nifty Bank, he expects support at 48,000-48,150 levels and a strong buy zone in the 47,725-47,850 range.

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

  • Global: Positive
  • FII: Positive
  • DII: Neutral
  • F&O: Neutral
  • Sentiment: Positive
  • Trend: Positive

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Singhvi expects a higher zone in the Nifty50 at 21,675-21,700 levels and a blue-sky zone above 21,725. For the banking index, he sees a higher zone emerging at 48,350-48,500 levels and a blue-sky zone above 48,550. 

ANIL SINGHVI MARKET STRATEGY 

  • FII index longs at 63 per cent vs 64 per cent the previous day
  • Nifty put-call ratio (PCR) at 1.43 vs 1.23
  • Nifty Bank PCR at 1.36 vs 1.10
  • INDIA VIX up 5.99 per cent at 15.56

For existing long positions:

  • Nifty intraday stop loss at 21,475 and closing stop loss at 21,425
  • Nifty Bank intraday stop loss at 48,000 and closing stop loss at 47,700

For existing short positions:

  • Nifty intraday and closing stop loss at 21,725
  • Nifty Bank intraday stop loss at 48,550 and closing stop loss at 48,350

For new positions in Nifty:

  • Buy Nifty at 21,500 and 21,600 levels with a stop loss at 21,475 for targets of 21,675 and 21,700; above 21,725, one may keep a trailing stop loss and hold for a higher target of 22,000
  • No short advice till the index breaks below 21,425

For new positions in Nifty Bank:

  • The best levels to buy Nifty Bank are 48,000 and 48,150 with a stop loss at 47,800 for targets of 48,225, 48,275, 48,350 and 48,500; above 48,550, one may keep a trailing stop loss and hold for a higher target of 49,000
  • No short advice till the index breaks below 47,700

F&O ban update

  • Out of ban: Delta Corp, Balrampur Chini, Hindustan Copper
  • Already in ban: RBL Bank, NALCO
  • New in ban: None

Stocks of the day

Buy Hindustan Copper futures with a stop loss at Rs 230 for targets of Rs 239, Rs 242 and Rs 245

  • Globally, metals strong due to a weak dollar
  • Hindustan Coppr out of F&O ban 
  • Mining stocks in strong uptrend

Buy CESC shares with a stop loss at Rs 122 for targets of Rs 129, Rs 132 and Rs 135

  • Power stocks looking very strong
  • One of the cheapest power stocks

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