Anil Singhvi Market Strategy December 20: Important levels to track in Nifty50, Nifty Bank today
Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi shares his strategy for today's session on Dalal Street. Learn more about his views on key support and resistance levels for the Nifty and the Nifty Bank, and what he makes of the market now.
Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support to emerge at 23,775-23,875 levels and a stronger support zone at 23,600-23,675 levels for the headline Nifty50 index on Friday, December 20. For the Nifty Bank, he expects support at 51,100-51,275 levels and a strong buy zone at 50,650-50,800 levels.
The market wizard expects a higher zone for the headline index at 24,000-24,125 levels and a strong sell zone at 24,150-24,275 levels. For the banking index, he sees a higher zone at 51,775-51,975 levels and a profit-booking zone at 52,125-52,275 levels.
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How market guru Anil Singhvi sums up the trade setup
Global: Neutral
FII: Negative
DII: Positive
F&O: Neutral
Sentiment: Negative
Trend: Neutral
FII long positions at 33 per cent vs 35 per cent a day ago
Nifty put-call ratio (PCR) at 0.91 vs 0.55
Nifty Bank PCR unchanged at 0.52
Volatility index India VIX up one per cent at 14.51
Anil Singhvi Market Strategy | For existing long positions
Nifty intraday and closing stop loss at 23,850
Nifty Bank intraday and closing stop loss at 51,250
Anil Singhvi Market Strategy | For existing short positions
Nifty intraday stop loss at 24,050 and closing stop loss at 24,200
Nifty Bank intraday stop loss at 51,825 and closing stop loss at 52,150
Anil Singhvi Market Strategy | For new positions in Nifty50
The best range to sell Nifty is 24,150-24,275 for targets of 24,000, 23,950, 23,875, 23,800, 23,775 and 23,675 with a stop loss at 24,350
Aggressive traders can buy Nifty in the 23,675-23,800 range for targets of 23,850, 23,950, 24,000, 24,075, 24,150 and 24,200 with a strict stop loss at 23,600
Anil Singhvi Market Strategy | For new positions in Nifty Bank
Aggressive traders can sell Nifty Bank in the 52,150-52,275 range for targets of 52,000, 51,900, 51,775, 51,575, 51,275 and 51,100 with a strict stop loss at 52,400
Aggressive traders can buy Nifty Bank in the 50,650-50,800 range for targets of 50,975, 51,100, 51,250, 51,475, 51,575 and 51,775 with a strict stop loss at 50,850
Stocks in F&O Ban
Out of ban: RBL Bank, Chambal Fertilisers, NALCO
Already in ban: NMDC, Bandhan Bank, PVR, Manappuram Finance, SAIL, Hindustan Copper, Granules India
New in ban: None
Stocks of the Day
The market wizard has shared the following picks for the day:
Buy Exide futures with a stop loss at Rs 433 for targets of Rs 450, Rs 458 and Rs 464
Buy Coforge futures with a stop loss at Rs 9,575 for targets of Rs 9,800 and Rs 9,890
Buy Persistent futures with a stop loss at Rs 6,600 for targets of Rs 6,800 and Rs 6,840
Buy Sagility shares for targets of Rs 46 and Rs 48 with a stop loss at Rs 43 (Jefferies has initiated coverage with a 52 target)
Buy Strides Pharma shares for targets of Rs 710, Rs 720 and Rs 735 with a stop loss at Rs 685