Anil Singhvi strategy December 5: Important levels to track in Nifty50, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees strong support for the headline Nifty50 index emerging at 20,500-20,600 levels and a "blue-sky zone" above 20,725 on Tuesday, December 5. 

For the Nifty Bank, he expects a blue-sky zone above 46,550.

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

• Global: Neutral

• FII: Positive

• DII: Positive

• F&O: Cautious

• Sentiment: Positive

• Trend: Positive

Singhvi expects support for the Nifty Bank at 46,225-46,375 levels and a strong base at 46,000-46,150 levels.  

ANIL SINGHVI MARKET STRATEGY 

The market wizard recommends a 'buy on dips' strategy on Dalal Street amid stability across global markets, a trend of favourable crude oil prices, and strong FII and DII inflows. He expects buying across largecap, midcap and smallcap segments, and fresh upmoves in the banking space. 

• FII index longs at 44 per cent vs 38 per cent the previous day
• Nifty put-call ratio (PCR) at 1.39 vs 1.30
• Nifty Bank PCR at 1.66 vs 1.00
• Volatility index India VIX up 4.99 per cent at 12.99

For existing long positions:

• Nifty intraday and closing stop loss at 20,500

• Nifty Bank intraday and closing stop loss at 46,000

For existing short positions:

• Nifty intraday and closing stop loss at 20,725

• Nifty Bank intraday and closing stop loss at 46,550

For new positions in Nifty:

• The best range to buy Nifty is 20,500-20,600 with a stop loss at 20,450 for targets of 20,675 and 20,700; hold your positions above 20,725 with a trailing stop loss

• Aggressive traders can sell Nifty only if it breaks 20,475, with a strict stop loss at 20,725 for targets of 20,300, 20,275, 20,200 and 20,150

For new positions in Nifty Bank:

• The best range to buy Nifty Bank is 46,000-46,225 with a stop loss at 45,800 for targets of 46,375, 46,425, 46,475; hold your positions above 46,525 with a trailing stop loss

• Aggressive traders can sell Nifty Bank only if it breaks 46,000 with a strict stop loss at 46,150 for targets of 45,900, 45,800, 45,750, 45,650 and 45,500

What did FIIs do on Monday?

• Gross volume of Rs 35,000 crore, four times the average
• Heavy delivery volume
• Strong buying in private banks
• Ongoing changes in portfolio
• Leaning towards buying in blue-chip stocks

Why are banking shares expected to rise?

• Banks appear to be under-owned after the RBI announcements on risk weightage rules 
• Fresh FII inflows in big private banks
• ICICI Bank, HDFC Bank, SBI, Axis Bank saw heavy delivery-related buying
• Deliveries to the tune of Rs 5,500 crore in ICICI Bank and HDFC Bank 

F&O ban update

• New in ban: India Cements, Indiabulls Housing Finance, Zee Entertainment Enterprises

• Already in ban: Delta Corp

• Out of ban: None

Stocks of the day

Sell M&M Finance futures with a stop loss at Rs 288 for targets of Rs 272 and Rs 270

• November disbursements up one per cent on a month-on-month basis (16 per cent on a year-on-year basis) but much below expectation

Buy CAMS shares with a stop loss at Rs 2,765 for targets of Rs 2,935 and Rs 2,975; buy more near Rs 2,800, Rs 2,850 levels

• Promoter Great Terrain sold 93 lakh shares at Rs 2,766 apiece on Monday
• After the block deal, selling pressure over
• Impressive list of buyers in the block deal

Buy Federal Bank futures with a stop loss at Rs 151 for targets of Rs 158 and Rs 160

• Banking stocks looking strong
• Nomura initiates coverage with 'buy' rating with a target of Rs 190  

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