Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty50 index emerging at 21,550-21,600 levels and a strong buy zone at 21,425-21,500 levels on Friday, January 5. 

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For the Nifty Bank, he expects support at 47,850-48,000 levels and a strong buy zone at 47,500-47,650 levels.

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

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

Singhvi expects a higher zone for the Nifty50 at 21,675-21,750 levels and a profit-booking zone at 21,775-21,835 levels. For the banking index, he sees a higher zone emerging at 48,275-48,350 levels and a profit-booking zone at 48,450-48,625 levels. 

ANIL SINGHVI MARKET STRATEGY 

  • FII index longs unchanged at 66 per cent as the previous day
  • Nifty put-call ratio (PCR) at 1.22 vs 0.77
  • Nifty Bank PCR at 1.17 vs 0.95
  • Volatility index India VIX down 5.5 per cent at 13.33 

 

For existing long positions:

  • Nifty intraday and closing stop loss at 21,500
  • 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 21,800
  • Nifty Bank intraday and closing stop loss at 48,500

For new positions in Nifty:

  • Buy Nifty in the 21,500-21,600 range with a stop loss at 21,400 for targets of 21,650, 21,675, 21,725, 21,750, 21,775, 21,800 and 21,835
  • Aggressive traders can sell Nifty in the 21,725-21,800 range with a strict stop loss at 21,850 for targets of 21,675, 21,650, 21,600, 21,565 and 21,500

For new positions in Nifty Bank:

  • Buy Nifty Bank in the 47,700-47,850 range with a stop loss at 47,500 for targets of 48,000, 48,075, 48,150, 48,200 and 48,275
  • Aggressive traders can buy Nifty Bank with a strict stop loss at 47,950 for targets of 48,275, 48,350, 48,450, 48,500 and 48,625
  • Sell Nifty Bank in the 48,350-48,500 range with a stop loss at 48,650 for targets of 48,275, 48,200, 48,100, 48,000, 47,850 and 47,725
  • Aggressive traders can sell Nifty Bank with a strict stop loss at 48,500 for targets of 48,100, 48,000, 47,850, 47,725, 48,650 and 47,525

F&O ban update

  • New in ban: Chambal Fertilisers, India Cements, GNFC, Escorts
  • Already in ban: NALCO, Delta Corp, IEX, SAIL, Zee Entertainment Enterprises, Balrampur Chini, Hindustan Copper
  • Out of ban: None

Stocks of the day

Buy HAL futures with a stop loss at Rs 2,900 for targets of Rs 2,955, Rs 2,970 and Rs 3,000

  • UBS initiates coverage with 'buy' rating and target of Rs 3,600

Buy GAIL futures with a stop loss at Rs 162 for targets of Rs 167, Rs 169 and Rs 172

  • Morgan Stanley maintains 'overweight' rating and raises target to Rs 195 from Rs 151 

Buy BCL Industries shares with a stop loss at Rs 65 for targets of Rs 70, Rs 72 and Rs 74

  • OMCs hike procurement price of ethanol from maize by Rs 5.79/litre

Buy CG Power shares with a stop loss at Rs 455 for targets of Rs 473 and Rs 478

  • UBS initiates coverage with 'buy' rating and target of Rs 580

Buy RBL Bank futures with a stop loss at Rs 284 for targets of Rs 292 and Rs 295

  • Strong quarterly update

Picks of the year 2024 

Buy GMDC for 1-2 years for targets of Rs 600, Rs 750 and Rs 900

  • Aggressive capex plan of Rs 3,000 crore for next 4-5 years
  • Cash rich company with Rs 2,000 crore 
  • Easy-to-finance capex plans
  • Top class management
  • Target to increase the company’s net worth four times by FY28
  • The company’s focus on rare earth minerals could be a very big trigger

ALSO READ: What Anil Singhvi recommends on Jubilant Pharmova in 2024

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