Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty50 index coming in at 19,665-19,700 levels and a strong buy zone at 19,575-19,625 levels on Tuesday, November 21. For the Nifty Bank, he expects support to emerge in the 43,275-43,425 range and a strong buy zone at 43,050-43,150 levels.

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

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

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Singhvi expects a higher zone for the Nifty50 at 19,750-198,00 levels and a profit-booking zone at 19,840-19,900 levels. For the banking index, he sees a higher zone emerging at 43,800-43,900 levels and a profit-booking zone at 43,975-44,050 levels.

ANIL SINGHVI MARKET STRATEGY

The market wizard says that the Nifty and the Nifty Bank are not ready to fall amid no significant pressure from DII and DII outflows. He expects the metal and IT spaces, and stocks such as Reliance to support the blue-chip index. 

Singhvi says that the market once again looks ready to reach the upper end of its trading range, and points out that the higher ranges for the Nifty and the Nifty Bank stand at 19,800-19,900 and 44,000-44,200 levels, respectively. 

  • FII index long positions at 20 per cent vs 21 per cent the previous day
  • Nifty put-call ratio (PCR) at 0.91 vs 1.02
  • Nifty Bank PCR at 0.69 vs 0.64
  • Fear index India VIX up 2.7 per cent at 12.15

For existing long positions:

  • Nifty intraday and closing stop loss at 19,575
  • Nifty Bank intraday and closing stop loss at 43,300

For existing short positions:

  • Nifty intraday and closing stop loss at 19,800
  • Nifty Bank intraday stop loss at 43,750 and closing stop loss at 44,000

For new positions in Nifty:

  • Buy Nifty with a stop loss at 19,650 for targets of 19,750, 19,775, 19,800, 19,840, 19,875 and 19,900
  • The best range to sell Nifty is 19,800-19,875 with a stop loss at 19,925 for targets of 19,765, 19,735, 19,700, 19,675 and 19,650

For new positions in Nifty Bank:

  • Buy Nifty Bank with a stop loss at 43,300 for targets of 43,675, 43,725, 43,800, 43,875, 43,975 and 44,050
  • The best range to sell Nifty Bank is 43,900-44,050 with a stop loss at 44,200 for targets of 43,825, 43,725, 43,675, 43,625, 43,575 and 43,500

F&O ban update

  • New in ban: BHEL, Indiabulls Housing Finance, NMDC
  • Already in ban: RBL Bank, Chambal Fertilisers, India Cements, Manappuram Finance, MCX, Hindustan Copper, Delta Corp, Zee Entertainment Enterprises
  • Out of ban: None

Stocks of the day: 

Buy Hindalco futures with a stop loss at Rs 490 for targets of Rs 505, Rs 512 and Rs 518

  • Dow Jones Metal Index up five per cent in a week

Buy Vedanta futures with a stop loss at Rs 232 for targets of Rs 247 and Rs 255

  • Metals, especially copper, are strong in the global market

Buy Titagarh Rail Systems shares with a stop loss at Rs 922 for targets of Rs 948, Rs 960 and Rs 972

  • Strategic partnership with ABB India for Metro projects
  • Agreement signed for supply of propulsion system
  • Both companies to transfer technology under Make In India, Self-Reliant India 

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