Anil Singhvi strategy November 30: 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 19,950-20,000 levels and a strong buy zone at 19,800-19,875 levels on Thursday, November 30. For the Nifty Bank, he expects support to come in at 44,200-44,425 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: Positive
F&O: Cautious
Sentiment: Positive
Trend: Positive

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

ANIL SINGHVI MARKET STRATEGY

The market wizard suggests adopting a 'buy on dips' strategy for the day amid strong FII inflows and positive signals from global markets. He points out that there is a strong trend on Dalal Street on the F&O expiry day but warns that some profit-taking may occur at higher levels.

Singhvi expects strong support for the Nifty50 and the Nifty Bank at 19,875-19,950 and 44,000-44,200 levels, and a blue sky zone beyond 20,225 and a higher range at 45,000-45,200, respectively.

He will chalk out a strategy on Friday for the upcoming results of Assembly elections in five states: Rajasthan, Madhya Pradesh, Chhattisgarh, Telangana and Mizoram.

FII index longs at 29 per cent vs 24 per cent the previous day
Nifty put-call ratio (PCR) near an overbought level at 1.47 vs 1.22
Nifty Bank PCR near an overbought level at 1.54 vs 1.15
Volatility index India VIX up 4.5 per cent at 12.71

For existing long positions:

Nifty intraday and closing stop loss at 19,900
Nifty Bank intraday stop loss at 44,400 and closing stop loss at 44,200

For existing short positions:

Nifty intraday and closing stop loss at 20,225
Nifty Bank intraday and closing stop loss at 44,675

For new positions in Nifty:

Buy Nifty with a stop loss at 19,950 for targets of 20,125, 20,165, 20,190, 20,225, and a blue-sky zone above 20,225
Aggressive traders can sell Nifty in the 20,165-20,225 range with a strict stop loss at 20,300 for targets of 20,125, 20,100, 20,075, 20,050, 20,000 and 19,950

For new positions in Nifty Bank:

The best levels to buy Nifty Bank at 44,200 and 44,425 with a stop loss at 44,000 for targets of 44,500, 44,575, 44,625, 44,675 and 44,750
Aggressive traders can buy with a stop loss at 44,375 for targets of 44,675, 44,750, 44,825, 44,875, 44,950, 45,000 and 45,075
Sell Nifty Bank in the 44,950-45,075 range with a stop loss at 45,150 for targets of 44,825, 44,750, 44,675, 44,625, 44,575, 44,500 and 44,425

F&O ban update

New in ban: Hindustan Copper, Manappuram
Already in ban: None
Out of ban: Balrampur Chini, BHEL, Granules India, Indiabulls Housing Finance

Stocks of the day:

Buy PCBL shares with a stop loss at Rs 260 for targets of Rs 271, Rs 274 and Rs 278

JV with Kinaltek to manufacture nano silicon-based products
Company likely to benefit in the battery application market

Buy Metro Brands shares with a stop loss at Rs 1,300 for targets of Rs 1,344, Rs 1,358 and Rs 1,375

Company signs a trademark licence pact with Foot Locker Retail

Listing expectations:

Tata Technologies

Singhvi, who earlier recommended applying for the Tata Technologies IPO for a big listing gain and for the long term, expects a bumper listing of the stock around the Rs 900-950 range against the issue price of Rs 500. He suggests short-term investors keep a stop loss at Rs 875 and long-term investors must keep the stock for 2-3 years.

Gandhar Oil

The market expert expects a strong listing for Gandhar Oil shares at Rs 230-245 against the issue price of Rs 169.

Singhvi, who earlier recommended subscribing to the IPO for a good listing gain and for the long term, suggests short-term investors keep a stop loss at Rs 220 and long-term investors hold the stock.

Fedbank Financial

Singhvi, who earlier suggested applying for the Fedbank Financial IPO from a long-term perspective, expects the stock to list on a lacklustre note around the issue price of Rs 140.

He recommends long-term investors to hold the stock and short-term investors to place a stop loss at Rs 133.

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