Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty50 index emerging at 19,700-19,765 levels and a strong buy zone at 19,625-19,675 levels on Tuesday, November 28, as Dalal Street returns to trade after a long weekend owing to the Guru Nanak Jayanti holiday.

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For the Nifty Bank, he expects support to come in at 43,575-43,700 levels and a strong buy zone at 43,450-43,525 levels.

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

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

Singhvi expects a higher zone for the Nifty50 at 19,825-19,875 levels and a profit-booking zone at 19,900-20,000 levels. For the banking index, he sees a higher zone emerging at 43,875-43,975 levels and a profit-booking zone at 44,050-44,200 levels.

ANIL SINGHVI MARKET STRATEGY 

  • FII index long positions at 23 per cent vs 21 per cent the previous day
  • Fear index India VIX flat at 11.33
  • Nifty put-call ratio (PCR) at 0.99 vs 1.11
  • Nifty Bank PCR at 1.03 vs 0.92

For existing long positions:

  • Nifty intraday stop loss at 19,700 and closing stop loss at 19,650
  • Nifty Bank intraday and closing stop loss at 43,450

For existing short positions:

  • Nifty intraday and closing stop loss at 19,900
  • Nifty Bank intraday and closing stop loss at 44,000

For new positions in Nifty:

  • The best range to buy Nifty is 19,700-19,765 with a stop loss at 19,650 for targets of 19,800, 19,825, 19,875, 19,900, 19,950 and 20,000
  • The best range to sell Nifty is 19,875-20,000 with a stop loss at 20,050 for targets of 19,840, 19,810, 19,785, 19,765, 19,735 and 19,710

For new positions in Nifty Bank:

  • The best range to buy Nifty Bank is 43,450-43,575 with a stop loss at 43,225 for targets of 43,625, 43,675, 43,725, 43,775 and 43,875
  • Aggressive traders can buy Nifty Bank with a strict stop loss at 43,500 for targets of 43,875, 43,975, 44,050, 44,200, 44,275 and 44,350
  • Aggressive traders can sell Nifty Bank in the 43,975-44,200 range with a stop loss at 44,425 for targets of 43,800, 43,725, 43,675, 43,625, 43,575 and 43,525

F&O ban update

  • New in ban: BHEL, Granules India
  • Already in ban: Balrampur Chini, Hindustan Copper, Hindustan Petroleum, Indiabulls Housing Finance, Zee Entertainment Enterprises
  • Out of ban: India Cements, Manappuram Finance, MCX, RBL Bank

Stocks of the day: 

Buy BSE shares with a stop loss at Rs 2,125 for targets of Rs 2,240, Rs 2,290 and Rs 2,325; long-term targets at Rs 2,700 and Rs 3,000

  • A strong pickup in F&O volume
  • Best proxy play in the Indian capital market
  • Diversified revenue model
  • Jefferies has initiated coverage with 'buy' rating and a target of Rs 2,700

Buy HPCL shares in the cash segment with a stop loss at Rs 314 for targets of Rs 326, Rs 330 and Rs 334

  • F&O ban on stock; buy in cash
  • Strong upgrades from brokerages
  • HSBC has raised its target to Rs 375 from Rs 215
  • Morgan Stanley's target at Rs 364
  • Benefit from strong cash flow and attractive valuations

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