Anil Singhvi Market Strategy December 9: 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 24,500-24,575 levels and a strong buy zone at 24,365-24,465 levels for the headline Nifty50 index on Monday, December 9. For the Nifty Bank, he expects support at 53,150-53,275 levels and a stronger support zone at 52,675-52,850 levels.
The market wizard expects a higher zone for the headline index at 24,700-24,750 levels and a profit-booking zone at 24,850-24,950 levels. For the banking index, he sees a higher zone at 53,600-53,850 levels and a profit-booking zone at 53,975-54,150 levels.
Images: PTI/Pexels
Catch all the latest stock market updates here. For all other news related to business, market, tech and auto, visit Zeebiz.com.
How market guru Anil Singhvi sums up the trade setup
Global: Positive
FII: Negative
DII: Positive
F&O: Neutral
Sentiment: Positive
Trend: Positive
FII long positions at 45 per cent vs 44 per cent before Friday's session
Nifty put-call ratio (PCR) at 1.03 vs 1.24
Nifty Bank PCR at 1.06 vs 1.13
Volatility index India VIX down three per cent at 14.14
Anil Singhvi Market Strategy | For existing long positions
The market guru suggests placing intraday and closing stop losses for the Nifty50 at 24,575 and 24,450 levels respectively.
For the banking index, he suggests an intraday as well as closing stop loss at 53,100.
Anil Singhvi Market Strategy | For existing short positions
For the Nifty50, the market wizard suggests an intraday stop loss at 24,875 and a closing stop loss at 24,750.
For the Nifty Bank, he suggests an intraday stop loss at 54,000 and a closing stop loss at 53,650.
Anil Singhvi Market Strategy | For new positions in Nifty50
The best range to buy Nifty50 is 24,475-24,575 with a stop loss at 24,350 for targets of 24,625, 24,675, 24,700, 24,750 and 24,850, according to the market guru.
Aggressive traders can sell Nifty in the 24,750-24,850 range with a strict stop loss at 25,000 for targets of 24,700, 24,675, 24,625, 24,575, 24,500 and 24,465, he adds.
Anil Singhvi Market Strategy | For new positions in Nifty Bank
The market wizard believes the best range to buy Nifty Bank is 52,675-52,850 with a stop loss at 52,500 for targets of 52,975, 53,100, 53,150, 53,275, 53,375 and 53,500. Aggressive traders can buy Nifty Bank in the 53,000-53,150 range with a strict stop loss at 52,825 for targets of 53,275, 53,375, 53,500, 53,600, 53,850 and 53,950.
He also suggests that aggressive traders sell Nifty Bank in the 53,850-54,000 range with a strict stop loss at 54,100 for targets of 53,625, 53,525, 53,400, 53,275, 53,175 and 53,025.
Stocks in F&O Ban
New in ban: PVR Inox, RBL Bank
Already in ban: Granules India, Manappuram Finance
Out of ban: None
Stock of the Day | Paytm
The market wizard suggests buying Paytm futures for targets of Rs 1,000, Rs 1,020 and Rs 1,045 with a stop loss at Rs 956.
Stock of the Day | CEAT
The market guru suggests buying CEAT shares in the cash segment for targets of Rs 3,130, Rs 3,175 and Rs 3,225 with a stop loss at Rs 3,070.