Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty50 index coming in at 19,625-19,700 levels and a strong buy zone at 19,525-19,575 levels on Friday, November 17. For the Nifty Bank, he expects support to emerge in the 43,900-44,050 band followed by a stronger base at 43,625-43,800 levels.

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

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

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Singhvi expects a higher zone for the Nifty50 at 19,800-19,840 levels and a strong sell zone at 19,875-19,950 levels. For the banking index, he sees a higher zone emerging at 44,200-44,400 levels and a strong sell zone at 44,500-44,700 levels.  

ANIL SINGHVI MARKET STRATEGY

While the market wizard highlights positive signals from global markets such as a sharp fall in crude oil rates, he expects weakness to the tune of 2-3 per cent in banking and NBFC stocks after the RBI increased the risk weight on unsecured consumer loans by 25 basis points (bps). 

  • FII index long positions at 23 per cent vs 20 per cent
  • Nifty put-call ratio (PCR) at 1.18 vs 1.19
  • Nifty Bank PCR at 0.87 vs 0.99
  • Fear index India VIX up 4.5 per cent at 11.65

For existing long positions:

  • Nifty50 intraday and closing stop loss at 19,600
  • Nifty Bank intraday and closing stop loss at 44,000

For existing short positions:

  • Nifty intraday and closing stop loss at 19,900
  • Nifty Bank intraday and closing stop loss at 44,500

For new positions in Nifty:

  • The best range to buy Nifty is 19,625-19,700 with a stop loss at 19,500 for targets of 19,750, 19,775, 19,800, 19,840 and 19,900
  • The best range to sell Nifty is 19,840-19,900 with a stop loss at 20,000 for targets of 19,800, 19,775, 19,725, 19,700, 19,675 and 19,625

For new positions in Nifty Bank:

  • Sell Nifty Bank with a stop loss at 44,425 for targets of 44,000, 43,900, 43,800, 43,725, 43,675, 43,625, 43,550 and 43,500
  • Aggressive traders can buy Nifty Bank in the 43,500-43,700 range with a strict stop loss at 43,400 for targets of 43,800, 43,900, 43,975, 44,050, 44,150 and 44,200

F&O ban update

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

Stocks of the day: 

  • Sell SBI Card futures with a stop loss at Rs 780 for targets of Rs 755 and Rs 745
  • Sell Bajaj Finance futures with a stop loss at Rs 7,400 for targets of Rs 7,255, Rs 7,180 and Rs 7,105
  • Sell Bandhan Bank futures with a stop loss at Rs 229 for targets of Rs 216 and Rs 210

Trigger: RBI increases risk weightage by 25 per cent on consumer credit exposure of banks and NBFCs

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