Anil Singhvi strategy December 4: 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 20,200-20,275 levels and a strong buy zone at "blue sky" zone above 20,300 on Monday, December 4, as he expects a 350-point rise in the blue-chip index, after the Bharatiya Janata Party (BJP) won in three out of the four states the election results for which were declared on December 4. 

For the Nifty Bank, he expects a strong buy zone at 44,825-44,950 levels.

The counting of votes was underway and the results were due later in the day. 

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

• Global: Positive

• FII: Positive

• DII: Positive

• F&O: Neutral

• Sentiment: Positive

• Trend: Positive

Singhvi expects a higher zone for the Nifty50 at 45,375-45,500 levels, an even higher range at 45,575-45,750, and a profit-booking zone at 45,800-45,975 levels. 

ANIL SINGHVI MARKET STRATEGY 

• FII index longs at 38 per cent vs 36 per cent the previous day
• Nifty put-call ratio (PCR) 1.30 vs 1.26
• Nifty Bank PCR 1.00 vs 1.02
• Volatility index India VIX down 2.5 per cent at 12.38

Top band

• Nifty50 looks set to cross 21,000 in December itself
• Nifty Bank also looks ready to scale a new high above 46,300 

Investors hold all the aces

• Fantastic election results
• Strong gains on Wall Street
• Strong FII inflows
• Crude oil below $80 a barrel

Why is the market on cloud nine?

• Concerns about the 2024 general elections are over
• The BJP is expected to win more than 303 seats in Lok Sabha polls
• Voters are supporting domestic growth
• Electors neglected the politics of freebies 
• Domestic improvement and optimism about the continuation of policies

Strength on Dalal Street guaranteed 

• Where will FIIs go except here?
• FIIs that were going to wait until the outcome of general elections would now buy big
• Life highs until now were strictly driven by global signals
• The market would have been higher had it not been for the elections
• The market is under-owned at current levels
• Profit-taking took place before the election results
• Don't short even by mistake
• Buying and holding will lead to big gains
• The market ready for 10 per cent upside till the 2024 Lok Sabha elections
• The third target of the bull run, at 21,080, is expected this month itself

Where can investors make big gains?

• Expect Adani group stocks to surge
• Bullish on PSUs, PSU banks
• Private banks, Nifty Bank to expected rise
• Buying to return in IT shares

For existing long positions:

• Nifty intraday and closing stop loss at 20,200

• Nifty Bank intraday and closing stop loss at 44,750

For existing short positions:

• Nifty intraday and closing stop loss at 20,300

• Nifty Bank intraday and closing stop loss at 45,000

For new positions in Nifty:

• Buy Nifty if doesn’t open with a big gap

• Strictly no short even at higher levels

• In case of profit-booking following a big gap-up opening, buy on the first dip and near lows of the first half an hour

• Expect Nifty to go up by 250-350 points

For new positions in Nifty Bank:

• Buy Nifty Bank with a stop loss at 44,800 for targets of 45,150, 45,225, 45,275, 45,375, 45,500, 45,575, 45,650 and 45,750

• Aggressive traders can sell Nifty Bank in the 45,575-45,750 range with a strict stop loss at 46,000 for targets of 45,500, 45,375, 45,275, 45,225 and 45,150

F&O ban update

• New in ban: Delta Corp

• Already in ban: None

• Out of ban: None

Stocks of the day

Buy HPCL futures with a stop loss at Rs 343 for targets of Rs 358 and Rs 363

• Benefit from lower crude prices

Buy Bank of India shares with a stop loss at Rs 104 for targets of Rs 111 and Rs 113

• Bullish on PSU banks

Buy Adani Power shares with a stop loss at Rs 435 for targets of Rs 454, Rs 465 and Rs 470

• Power stocks are in a big bull run
• Adani group stocks to run post-election results

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