Anil Singhvi 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. 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 19,800-19,835 levels and a strong buy zone at 19,700-19,765 levels on Wednesday, November 29. For the Nifty Bank, he expects support to come in at 43,675-43,775 levels and a strong buy zone at 43,450-43,575 levels.

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

Global: Positive
FII: Positive

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

Singhvi expects a higher zone for the Nifty50 at 19,950-20,000 levels and a profit-booking zone at 20,050-20,125 levels. For the banking index, he sees a higher zone emerging at 44,050-44,200 levels and a profit-booking zone at 44,350-44,425 levels.

ANIL SINGHVI MARKET STRATEGY

The market wizard suggests adopting a 'buy on dips' strategy on Dalal Street amid strong FII inflows and positive signals from global markets, and expects a strong trend to continue till the expiry of monthly derivative contracts on Thursday.

Singhvi says the strategy for Assembly polls will be devised on the first day of the new monthly series on Friday.

He expects strong support for the Nifty and the Nifty Bank at 19,700-19,800 and 43,450-43,575 levels, and higher ranges at 20,000-20,100 and 44,200-44,400 levels, respectively.

FII index longs at 24 per cent vs 23 per cent the previous day
Nifty put-call ratio (PCR) on a higher side at 1.22 vs 0.99 the previous day
Nifty Bank PCR at 1.15 vs 1.03
Volatility index India VIX up 7.46 per cent at 12.18

For existing long positions:

Nifty intraday and closing stop loss at 19,750
Nifty Bank intraday stop loss at 43,700 and closing stop loss at 43,500

For existing short positions:

Nifty intraday and closing stop loss at 20,000
Nifty Bank intraday and closing stop loss at 44,050

For new positions in Nifty:

Buy Nifty with a stop loss at 19,765 for targets of 19,950, 19,990, 20,050, 20,075, 20,100 and 20,125
Aggressive traders can sell Nifty in the 19,990-20,100 range with a strict stop loss at 20,225 for targets of 19,950, 19,920, 19,875, 19,835 and 19,800

For new positions in Nifty Bank:

Buy Nifty Bank with a stop loss at 43,700 for targets of 43,975, 44,050, 44,150, 44,200, 44,275, 44,350 and 44,400
Aggressive traders can sell Nifty Bank in the 44,150-44,400 range with a strict stop loss at 44,525 for targets of 44,075, 44,000, 43,950, 43,875, 43,775 and 43,700

F&O ban update

New in ban: None
Already in ban: Balrampur Chini, BHEL, Granules India, Indiabulls Housing Finance
Out of ban: Hindustan Copper, Hindustan Petroleum, Zee Entertainment Enterprises

Result review:

Siemens futures have support at Rs 3,570 and a higher level at Rs 3,700