Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty50 index coming in at 19,575-19,625 levels and a strong buy zone at 19,500-19,550 levels on Thursday, November 16. For the Nifty Bank, he expects support to emerge in the 44,000-44,150 band and a strong buy zone at 43,800-43,900 levels.

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

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

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Singhvi expects a higher zone for the Nifty50 at 19,700-19,750 levels and a strong sell zone at 19,775-19,840 levels. For the banking index, he sees a higher zone emerging at 44,400-44,500 levels and a strong sell zone at 44,575-44,750 levels.  

ANIL SINGHVI MARKET STRATEGY

The market wizard highlights that the market has positive signals from US inflation and retail sales data points, after Dalal Street indicated a change in trend with a strong close on Wednesday. He believes closing levels above 19,500 and 44,000 for the Nifty and the Nifty Bank will be considered extremely strong signs, respectively. 

Singhvi says FIIs have remained net purchasers in the cash segment on Dalal Street after October 23, and brought in Rs 4,731 crore in stock futures. He also points out that index long positions are low at 20 per cent and recommends buying at the first support levels. 

 

  • FII index long positions at 20 per cent vs 19 per cent the previous day
  • Nifty put-call ratio (PCR) at 1.19 vs 1.00
  • Nifty Bank PCR at 0.99 vs 0.98
  • Volatility index India VIX down 0.5 per cent at 11.14

For existing long positions:

  • Nifty intraday stop loss at 19,575 and closing stop loss at 19,500
  • Nifty Bank intraday and closing stop loss at 43,900

For existing short positions:

  • Nifty intraday and closing stop loss at 19,700
  • Nifty Bank intraday and closing stop loss at 44,500

For new positions in Nifty:

  • Buy Nifty with a stop loss at 19,575 for targets of 19,700, 19,725, 19,750, 19,775, 19,800 and 19,840
  • The best range to sell Nifty is 19,775-19,840 with a stop loss at 19,900 for targets of 19,725, 19,700, 19,675, 19,625, 19,600 and 19,575

For new positions in Nifty Bank:

  • The best range to buy Nifty Bank is 43,900-44,050 with a stop loss at 43,800 for targets of 44,175, 44,275, 44,350, 44,400, 44,475 and 44,575
  • The best range to sell Nifty Bank is 44,500-44,700 with a stop loss at 44,825 for targets of 44,425, 44,350, 44,275, 44,200 and 44,050

F&O ban update

  • New in ban: MCX
  • Out of ban: Chambal Fertilisers, Manappuram Finance
  • Already in ban: Hindustan Copper, Indiabulls Housing Finance, SAIL, Delta Corp, Zee Entertainment Enterprises

Stock of the day: 

Sell Bajaj Finance share in the cash segment with a stop loss at Rs 7,300 for targets of Rs 7,015, Rs 6,860 and Rs 6,785

  • RBI banned landing through eCOM and Insta EMI card
  • High margin landing business on restrictions
  • Growth will suffer in a big way  
  • Resolution may take a very long time
  • Regulatory action and fears that competition will de-rate the company’s perception
  • Big supply can come from recent QIP investors
  • Stock may eventually come down to the Rs 6,100-6,300 range

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