te Anil Singhvi strategy January 5: Important levels to track in Nifty50, Nifty Bank today | Zee Business

Anil Singhvi strategy January 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.

Anil Singhvi strategy January 5: Important levels to track in Nifty50, Nifty Bank today
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 21,550-21,600 levels and a strong buy zone at 21,425-21,500 levels on Friday, January 5. 

For the Nifty Bank, he expects support at 47,850-48,000 levels and a strong buy zone at 47,500-47,650 levels.

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

  • Global: Neutral

    TRENDING NOW

  • FII: Positive

  • DII: Negative

  • F&O: Neutral

  • Sentiment: Positive

  • Trend: Positive

Singhvi expects a higher zone for the Nifty50 at 21,675-21,750 levels and a profit-booking zone at 21,775-21,835 levels. For the banking index, he sees a higher zone emerging at 48,275-48,350 levels and a profit-booking zone at 48,450-48,625 levels. 

ANIL SINGHVI MARKET STRATEGY 

  • FII index longs unchanged at 66 per cent as the previous day

  • Nifty put-call ratio (PCR) at 1.22 vs 0.77

  • Nifty Bank PCR at 1.17 vs 0.95

  • Volatility index India VIX down 5.5 per cent at 13.33 

 

For existing long positions:

  • Nifty intraday and closing stop loss at 21,500

  • Nifty Bank intraday stop loss at 48,000 and closing stop loss at 47,700

For existing short positions:

  • Nifty intraday and closing stop loss at 21,800

  • Nifty Bank intraday and closing stop loss at 48,500

For new positions in Nifty:

  • Buy Nifty in the 21,500-21,600 range with a stop loss at 21,400 for targets of 21,650, 21,675, 21,725, 21,750, 21,775, 21,800 and 21,835

  • Aggressive traders can sell Nifty in the 21,725-21,800 range with a strict stop loss at 21,850 for targets of 21,675, 21,650, 21,600, 21,565 and 21,500

For new positions in Nifty Bank:

  • Buy Nifty Bank in the 47,700-47,850 range with a stop loss at 47,500 for targets of 48,000, 48,075, 48,150, 48,200 and 48,275

  • Aggressive traders can buy Nifty Bank with a strict stop loss at 47,950 for targets of 48,275, 48,350, 48,450, 48,500 and 48,625

  • Sell Nifty Bank in the 48,350-48,500 range with a stop loss at 48,650 for targets of 48,275, 48,200, 48,100, 48,000, 47,850 and 47,725

  • Aggressive traders can sell Nifty Bank with a strict stop loss at 48,500 for targets of 48,100, 48,000, 47,850, 47,725, 48,650 and 47,525

F&O ban update

  • New in ban: Chambal Fertilisers, India Cements, GNFC, Escorts

  • Already in ban: NALCO, Delta Corp, IEX, SAIL, Zee Entertainment Enterprises, Balrampur Chini, Hindustan Copper

  • Out of ban: None

Stocks of the day

Buy HAL futures with a stop loss at Rs 2,900 for targets of Rs 2,955, Rs 2,970 and Rs 3,000

  • UBS initiates coverage with 'buy' rating and target of Rs 3,600

Buy GAIL futures with a stop loss at Rs 162 for targets of Rs 167, Rs 169 and Rs 172

  • Morgan Stanley maintains 'overweight' rating and raises target to Rs 195 from Rs 151 

Buy BCL Industries shares with a stop loss at Rs 65 for targets of Rs 70, Rs 72 and Rs 74

  • OMCs hike procurement price of ethanol from maize by Rs 5.79/litre

Buy CG Power shares with a stop loss at Rs 455 for targets of Rs 473 and Rs 478

  • UBS initiates coverage with 'buy' rating and target of Rs 580

Buy RBL Bank futures with a stop loss at Rs 284 for targets of Rs 292 and Rs 295

  • Strong quarterly update

Picks of the year 2024 

Buy GMDC for 1-2 years for targets of Rs 600, Rs 750 and Rs 900

  • Aggressive capex plan of Rs 3,000 crore for next 4-5 years
  • Cash rich company with Rs 2,000 crore 
  • Easy-to-finance capex plans
  • Top class management
  • Target to increase the company’s net worth four times by FY28
  • The company’s focus on rare earth minerals could be a very big trigger

ALSO READ: What Anil Singhvi recommends on Jubilant Pharmova in 2024

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

Written By: ZeeBiz WebTeam
Updated: Fri, Jan 05, 2024
09:08 am
New Delhi, ZeeBiz WebDesk
RELATED NEWS
Anil Singhvi strategy January 29: Important levels to track in Nifty50, Nifty Bank today Anil Singhvi strategy January 29: Important levels to track in Nifty50, Nifty Bank today
Anil Singhvi strategy January 25: Important levels to track in Nifty50, Nifty Bank today Anil Singhvi strategy January 25: Important levels to track in Nifty50, Nifty Bank today
Anil Singhvi strategy January 24: Important levels to track in Nifty50, Nifty Bank today Anil Singhvi strategy January 24: Important levels to track in Nifty50, Nifty Bank today
Anil Singhvi strategy January 23: Important levels to track in Nifty50, Nifty Bank today Anil Singhvi strategy January 23: Important levels to track in Nifty50, Nifty Bank today
Anil Singhvi strategy January 20: Important levels to track in Nifty50, Nifty Bank today Anil Singhvi strategy January 20: Important levels to track in Nifty50, Nifty Bank today

By accepting cookies, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.

x