Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty50 index emerging at 19,800-19,835 levels and a strong buy zone at 19,700-19,765 levels on Wednesday, November 29. For the Nifty Bank, he expects support to come in at 43,675-43,775 levels and a strong buy zone at 43,450-43,575 levels.

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

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

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Singhvi expects a higher zone for the Nifty50 at 19,950-20,000 levels and a profit-booking zone at 20,050-20,125 levels. For the banking index, he sees a higher zone emerging at 44,050-44,200 levels and a profit-booking zone at 44,350-44,425 levels.

ANIL SINGHVI MARKET STRATEGY 

The market wizard suggests adopting a 'buy on dips' strategy on Dalal Street amid strong FII inflows and positive signals from global markets, and expects a strong trend to continue till the expiry of monthly derivative contracts on Thursday.   

Singhvi says the strategy for Assembly polls will be devised on the first day of the new monthly series on Friday. 

He expects strong support for the Nifty and the Nifty Bank at 19,700-19,800 and 43,450-43,575 levels, and higher ranges at 20,000-20,100 and 44,200-44,400 levels, respectively. 

  • FII index longs at 24 per cent vs 23 per cent the previous day
  • Nifty put-call ratio (PCR) on a higher side at 1.22 vs 0.99 the previous day
  • Nifty Bank PCR at 1.15 vs 1.03 
  • Volatility index India VIX up 7.46 per cent at 12.18

For existing long positions:

  • Nifty intraday and closing stop loss at 19,750
  • Nifty Bank intraday stop loss at 43,700 and closing stop loss at 43,500

For existing short positions:

  • Nifty intraday and closing stop loss at 20,000
  • Nifty Bank intraday and closing stop loss at 44,050

For new positions in Nifty:

  • Buy Nifty with a stop loss at 19,765 for targets of 19,950, 19,990, 20,050, 20,075, 20,100 and 20,125
  • Aggressive traders can sell Nifty in the 19,990-20,100 range with a strict stop loss at 20,225 for targets of 19,950, 19,920, 19,875, 19,835 and 19,800

For new positions in Nifty Bank:

  • Buy Nifty Bank with a stop loss at 43,700 for targets of 43,975, 44,050, 44,150, 44,200, 44,275, 44,350 and 44,400
  • Aggressive traders can sell Nifty Bank in the 44,150-44,400 range with a strict stop loss at 44,525 for targets of 44,075, 44,000, 43,950, 43,875, 43,775 and 43,700

F&O ban update

  • New in ban: None
  • Already in ban: Balrampur Chini, BHEL, Granules India, Indiabulls Housing Finance
  • Out of ban: Hindustan Copper, Hindustan Petroleum, Zee Entertainment Enterprises

Result review: 

Siemens futures have support at Rs 3,570 and a higher level at Rs 3,700

  • 6th consecutive strong quarterly performance in a row
  • Revenue and profit above estimates
  • Operational performance in line with estimates
  • Strong order book at Rs 45,500 crore 
  • The only negative is problems in the parent company
  • Selling expected at a higher level

Stock of the day:

Buy PCBL shares with a stop loss at Rs 237 for targets of Rs 260, Rs 263 and Rs 266

  • Big aggressive acquisition by PCBL
  • Diversification of products to benefit in the long term
  • Acquisition at fair valuations
  • The only negative is that the company needs to partly borrow to fund the deal

Sell and book profit in Aster DM if the stock makes a gap-up opening; a higher level at Rs 355 and a lower range at Rs 300-310

  • Lucrative and high-growth Gulf business is sold
  • 75 per cent revenue coming from the Gulf business
  • The remaining business not attractive
  • Promoter also buying 35 per cent stake in the demerged entity

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