Anil Singhvi strategy December 5: 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 strong support for the headline Nifty50 index emerging at 20,500-20,600 levels and a "blue-sky zone" above 20,725 on Tuesday, December 5.

For the Nifty Bank, he expects a blue-sky zone above 46,550.

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

Global: Neutral

TRENDING NOW
FII: Positive
DII: Positive
F&O: Cautious
Sentiment: Positive
Trend: Positive

Singhvi expects support for the Nifty Bank at 46,225-46,375 levels and a strong base at 46,000-46,150 levels.

ANIL SINGHVI MARKET STRATEGY

The market wizard recommends a 'buy on dips' strategy on Dalal Street amid stability across global markets, a trend of favourable crude oil prices, and strong FII and DII inflows. He expects buying across largecap, midcap and smallcap segments, and fresh upmoves in the banking space.

FII index longs at 44 per cent vs 38 per cent the previous day
Nifty put-call ratio (PCR) at 1.39 vs 1.30
Nifty Bank PCR at 1.66 vs 1.00
Volatility index India VIX up 4.99 per cent at 12.99

For existing long positions:

Nifty intraday and closing stop loss at 20,500
Nifty Bank intraday and closing stop loss at 46,000

For existing short positions:

Nifty intraday and closing stop loss at 20,725
Nifty Bank intraday and closing stop loss at 46,550

For new positions in Nifty:

The best range to buy Nifty is 20,500-20,600 with a stop loss at 20,450 for targets of 20,675 and 20,700; hold your positions above 20,725 with a trailing stop loss
Aggressive traders can sell Nifty only if it breaks 20,475, with a strict stop loss at 20,725 for targets of 20,300, 20,275, 20,200 and 20,150

For new positions in Nifty Bank:

The best range to buy Nifty Bank is 46,000-46,225 with a stop loss at 45,800 for targets of 46,375, 46,425, 46,475; hold your positions above 46,525 with a trailing stop loss
Aggressive traders can sell Nifty Bank only if it breaks 46,000 with a strict stop loss at 46,150 for targets of 45,900, 45,800, 45,750, 45,650 and 45,500

What did FIIs do on Monday?

Gross volume of Rs 35,000 crore, four times the average
Heavy delivery volume
Strong buying in private banks
Ongoing changes in portfolio
Leaning towards buying in blue-chip stocks

Why are banking shares expected to rise?

Banks appear to be under-owned after the RBI announcements on risk weightage rules
Fresh FII inflows in big private banks
ICICI Bank, HDFC Bank, SBI, Axis Bank saw heavy delivery-related buying
Deliveries to the tune of Rs 5,500 crore in ICICI Bank and HDFC Bank

F&O ban update

New in ban: India Cements, Indiabulls Housing Finance, Zee Entertainment Enterprises
Already in ban: Delta Corp
Out of ban: None

Stocks of the day

Sell M&M Finance futures with a stop loss at Rs 288 for targets of Rs 272 and Rs 270

November disbursements up one per cent on a month-on-month basis (16 per cent on a year-on-year basis) but much below expectation

Buy CAMS shares with a stop loss at Rs 2,765 for targets of Rs 2,935 and Rs 2,975; buy more near Rs 2,800, Rs 2,850 levels

Promoter Great Terrain sold 93 lakh shares at Rs 2,766 apiece on Monday
After the block deal, selling pressure over
Impressive list of buyers in the block deal

Buy Federal Bank futures with a stop loss at Rs 151 for targets of Rs 158 and Rs 160

Banking stocks looking strong
Nomura initiates coverage with 'buy' rating with a target of Rs 190

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