Anil Singhvi strategy December 4: 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 20,200-20,275 levels and a strong buy zone at "blue sky" zone above 20,300 on Monday, December 4, as he expects a 350-point rise in the blue-chip index, after the Bharatiya Janata Party (BJP) won in three out of the four states the election results for which were declared on December 4.

For the Nifty Bank, he expects a strong buy zone at 44,825-44,950 levels.

The counting of votes was underway and the results were due later in the day.

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

Global: Positive
FII: Positive
DII: Positive
F&O: Neutral
Sentiment: Positive
Trend: Positive

Singhvi expects a higher zone for the Nifty50 at 45,375-45,500 levels, an even higher range at 45,575-45,750, and a profit-booking zone at 45,800-45,975 levels.

ANIL SINGHVI MARKET STRATEGY

FII index longs at 38 per cent vs 36 per cent the previous day
Nifty put-call ratio (PCR) 1.30 vs 1.26
Nifty Bank PCR 1.00 vs 1.02
Volatility index India VIX down 2.5 per cent at 12.38

Top band

Nifty50 looks set to cross 21,000 in December itself
Nifty Bank also looks ready to scale a new high above 46,300

Investors hold all the aces

Fantastic election results
Strong gains on Wall Street
Strong FII inflows
Crude oil below $80 a barrel

Why is the market on cloud nine?

Concerns about the 2024 general elections are over
The BJP is expected to win more than 303 seats in Lok Sabha polls
Voters are supporting domestic growth
Electors neglected the politics of freebies
Domestic improvement and optimism about the continuation of policies

Strength on Dalal Street guaranteed

Where will FIIs go except here?
FIIs that were going to wait until the outcome of general elections would now buy big
Life highs until now were strictly driven by global signals
The market would have been higher had it not been for the elections
The market is under-owned at current levels
Profit-taking took place before the election results
Don't short even by mistake
Buying and holding will lead to big gains
The market ready for 10 per cent upside till the 2024 Lok Sabha elections
The third target of the bull run, at 21,080, is expected this month itself

Where can investors make big gains?

Expect Adani group stocks to surge
Bullish on PSUs, PSU banks
Private banks, Nifty Bank to expected rise
Buying to return in IT shares

For existing long positions:

Nifty intraday and closing stop loss at 20,200
Nifty Bank intraday and closing stop loss at 44,750

For existing short positions:

Nifty intraday and closing stop loss at 20,300
Nifty Bank intraday and closing stop loss at 45,000

For new positions in Nifty:

Buy Nifty if doesn’t open with a big gap
Strictly no short even at higher levels
In case of profit-booking following a big gap-up opening, buy on the first dip and near lows of the first half an hour
Expect Nifty to go up by 250-350 points

For new positions in Nifty Bank:

Buy Nifty Bank with a stop loss at 44,800 for targets of 45,150, 45,225, 45,275, 45,375, 45,500, 45,575, 45,650 and 45,750
Aggressive traders can sell Nifty Bank in the 45,575-45,750 range with a strict stop loss at 46,000 for targets of 45,500, 45,375, 45,275, 45,225 and 45,150