Anil Singhvi Market Strategy November 29: 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.

ZeeBiz WebTeam | Nov 29, 2024, 11:18 AM IST

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Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support to emerge at 23,775-23,850 levels and a stronger support zone at 23,550-23,675 levels for the headline Nifty50 index on Friday, November 29. For the Nifty Bank, he expects support at 51,475-51,675 levels and a strong buy zone at 51,175-51,350 levels.

The market wizard sees 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 52,100-52,300 levels and a profit-booking zone at 52,450-52,550 levels.

Catch all the latest stock market updates here. For all other news related to business, market, tech and auto, visit Zeebiz.com.

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How Anil Singhvi sums up the market setup

Global: Neutral

FII: Negative

DII: Positive

F&O: Neutral

Sentiment: Cautious

Trend: Neutral

FII long positions at 33 per cent vs 35 per cent a day ago

Nifty put-call ratio (PCR) at 0.83 vs 1.12

Nifty Bank PCR at 1.12 vs 1.06

Volatility index India VIX up four per cent at 15.21

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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 51,750

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Anil Singhvi Market Strategy | For existing short positions

Nifty intraday stop loss at 24,150 and closing stop loss at 24,275

Nifty Bank intraday and closing stop loss at 52,350

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Anil Singhvi Market Strategy | For new positions in Nifty50

Aggressive traders can buy Nifty in the 23,675-23,800 range with a strict stop loss at 23,550 for targets of 23,875, 23,925, 24,000, 24,125, 24,150 and 24,200

Exit all longs and create fresh short positions if the index closes below 23,850

The best range to sell Nifty is 24,125-24,225 with a strict stop loss at 24,350 for targets of 24,000, 23,925, 23,875, 23,800, 23,775 and 23,675

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Anil Singhvi Market Strategy | For new positions in Nifty Bank

The best range to buy Nifty Bank is 51,475-51,675 with a stop loss at 51,300 for targets of 51,775, 51,900, 5,2000, 52,100, 52,175 and 52,300

Exit all longs and create fresh short positions if the index closes below 51,750

Aggressive traders sell Nifty Bank in the 52,175-52,325 range with a strict stop loss at 52,550 for targets of 52,025, 51,925, 51,800, 51,675, 51,575 and 51,500

Cut all shorts and create fresh long positions if the index closes above 52,500

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No Stock in F&O Ban

No stock is in the futures & options ban list on Friday.

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EDITOR’S TAKE

The market wizard points out that Thursday's sell-off has led to the 24,350 level becoming resistance the size of Mount Everest.

Here's how he views the market now:

There is fear of the market giving up key support levels on the last trading day of the week

Market participants should use any bounceback as the opportunity to exit positions stuck at higher levels

It is important for strength to return in major stocks before fresh buying in the cash segment

Today, one should reduce positions in midcap & smallcap stocks as well in case of weakness in largecap scrips

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Stock of the Day: All eyes on HUL

FMCG giant HUL is conducting its first full-day analyst meet since its weak quarterly results.

Investors will track the company's management commentary and guidance for cues.

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Stock of the Day: Divi’s Labs

The market guru suggests buying Divi's Labs shares for targets of Rs 6,100 and Rs 6,150 with a stop loss at Rs 5,850.

Pharma stocks are looking strong at the current juncture, according to Singhvi.

Citi has maintained a 'buy' rating on Divi's with a target price of Rs 6,850.

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