Anil Singhvi strategy December 1: 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. Check out his take on key support and resistance levels for the Nifty and the Nifty Bank, and how he views the market.

Here is what Zee Business Managing Editor Anil Singhvi makes of the market today.

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support for the headline Nifty50 index emerging at 20,000-20,050 levels and a strong buy zone at 19,875-19,950 levels on Friday, December 1, the first day of the new monthly F&O series. For the Nifty Bank, he expects support to come in at 44,150-44,250 levels and a strong buy zone at 43,950-44,075 levels.

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

Global: Positive
FII: Positive

TRENDING NOW
DII: Negative
F&O: Positive
Sentiment: Positive
Trend: Positive

Singhvi expects a higher zone for the Nifty50 at 20,165-20,225 and a blue sky zone beyond those levels. For the banking index, he sees a higher zone emerging 44,750-44,875 levels and a profit-booking zone at 44,950-45,075 levels.

ANIL SINGHVI MARKET STRATEGY

The market wizard points out that Dalal Street is ready to scale a new high amid strong domestic GDP data, positive signals from Wall Street and robust FII inflows. The wait before the outcome of elections in Chhattisgarh, Rajasthan, Madhya Pradesh, Telangana and Mizoram is likely to limit the upside in the market on Friday, he says.

Singhvi also highlights the government’s initial approval to defence acquisition projects worth Rs 2.23 lakh crore as a positive signal for the market. He expects strong support for the Nifty and the Nifty Bank at 19,875-20,025 and 43,875-44,000 levels, respectively.

FII index long positions at 36 per cent vs 29 per cent the previous day
Nifty put-call ratio (PCR) 1.26 vs 1.47
Nifty Bank PCR 1.02 vs 1.54
Volatility index India VIX flat at 12.69

For existing long positions:

Nifty intraday and closing stop loss at 19,950
Nifty Bank intraday and closing stop loss at 44,150

For existing short positions:

Nifty intraday and closing stop loss at 20,225
Nifty Bank intraday and closing stop loss at 44,800

For new positions in Nifty:

Buy Nifty with a stop loss at 19,950 for targets of 20,165, 20,190, 20,225, and a blue-sky zone above 20,225

For new positions in Nifty Bank:

The best range to buy Nifty Bank is at 44,075-44,250 levels with a stop loss at 43,950 for targets of 44,350, 44,400, 44,475, 44,575, 44,625 and 44,750
Aggressive traders can buy Nifty Bank with a stop loss at 44,200 for targets of 44,575, 44,625, 44,750, 44,825, 44,875, 44,950, 45,000 and 45,075
Aggressive traders can sell Nifty Bank in the 44,875-45,000 range with a stop loss at 45,150 for targets of 44,775, 44,675, 44,625, 44,575, 44,500 and 44,400

F&O ban update

New in ban: None
Already in ban: None
Out of ban: Hindustan Copper, Manappuram Finance

Exit Poll analysis: What to make of predictions about upcoming state election results

Exit polls suggest mixed trends; difficult to take a direction on D-Street
One can view exit poll results as one pleases
The real picture to only emerge on Sunday, December 3

What to expect in December derivatives series (F&O)

The market is entering a new monthly series with light positions
Nifty rollovers very low at 73 per cent
The December series is generally a mixed bag
One should adopt a ‘buy on dips’ strategy until the results of elections in five states are declared

Stocks of the day

Buy Delta Corp futures with a stop loss at Rs 140 for targets of Rs 147, Rs 150 and Rs 155

Interim relief from Kolkata HC in Rs 6,000 crore GST demand

Buy Tilaknagar Industries shares with a stop loss at Rs 250 for targets of Rs 272, Rs 278 and Rs 285

Promoters get their entire stake de-pledged

Flair Writing Industries listing preview

Singhvi, who earlier recommended subscribing to the Flair Writing IPO for a listing and and for the long term, expects to list the stock around Rs 425-450 levels as against the issue price of Rs 304. He suggests short-term investors keep a trailing stop loss at Rs 400.

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