Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty50 index emerging at 19,730-19,785 levels and a strong buy zone at 19,625-19,700 levels on Thursday, November 23. For the Nifty Bank, he expects support to come in at 43,150-43,225 levels and a strong buy zone at 42,900-43,050 levels.

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

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

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Singhvi expects a higher zone for the Nifty50 at 19,840-19,875 levels and a strong sell zone at 19,900-20,000 levels. For the banking index, he sees a higher zone emerging at 43,575-43,675 levels and a strong sell zone at 43,725-43,875 levels.

ANIL SINGHVI MARKET STRATEGY 

The market wizard expects ample opportunities to trade on both sides amid good global signals and slowing FII outflows. He, however, points out that while the Nifty crossing the 19,800 mark on a closing basis is a good signal, the Nifty Bank continues to be weak.

Singhvi believes good levels to buy stand at 19,675-19,750 and 43,050-43,225 levels, and levels of 19,875-19,950 and 43,675-43,825 are suitable for booking profit, respectively. 

  • FII index long positions at 23 per cent vs 21 per cent the previous day
  • Nifty put-call ratio (PCR) at 1.07 vs 1.02
  • Nifty Bank PCR at 0.83 vs 0.69
  • Fear index India VIX down 3.0 per cent at 11.87

For existing long positions:

  • Nifty intraday and closing stop loss at 19,650
  • Nifty Bank intraday stop loss at 43,200 and closing stop loss at 43,400

For existing short positions:

  • Nifty intraday and closing stop loss at 19,900
  • Nifty Bank intraday and closing stop loss at 43,800

For new positions in Nifty:

  • The best range to buy Nifty is 19,700-19,765 with a stop loss at 19,625 for targets of 19,785, 19,805, 19,825, 19,875, 19,900 and 19,950
  • The best range to sell Nifty is 19,875-19,950 with a stop loss at 20,050 for targets of 19,840, 19,815, 19,785, 19,765, 19,735 and 19,710

For new positions in Nifty Bank:

  • The best range to buy Nifty Bank is 43,050-43,225 with a stop loss at 42,900 for targets of 43,275, 43,325, 43,450, 43,500, 43,575 and 43,675
  • Aggressive traders can buy Nifty Bank with a strict stop loss at 43,200 for targets of 43,500, 43,575, 43,625, 43,675, 43,725, 43,775 and 43,875
  • Aggressive traders can sell Nifty Bank in the 43,675-43,775 range with a strict stop loss at 43,900 for targets of 43,625, 43,575, 43,525, 43,450, 43,325 and 43,225

F&O ban update

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

Stock of the day: 

Buy IEX futures with a stop loss at Rs 141.5 for targets of Rs 149, Rs 152 and Rs 155

  • Market coupling of power exchange may not happen or at least get delayed substantially
  • The stock fell from Rs 250 to Rs 125 on this news only
  • Most underperforming stock in power sector 
  • IEX day ahead volumes increasing significantly
  • Capacity expansion in this sector will be most beneficial

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