Market Strategy by Anil Singhvi December 3: Key levels to follow in Nify50, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support to emerge at 24,125-24,200 levels and a firm buy zone at 23,875-24,000 levels for the Nifty50 headline index on Tuesday, December 3. For Nifty Bank, he expects support at 51,675 levels -51,775 and a strong buying position 51,300-51,475 levels.

Here’s how the market guru summed up the trade setup this morning:

• Global: Good

• FII: Neutral

• DII: Good

• F&O: Neutral

• Feeling: Good

• Trend: Neutral

• Long FII positions are unchanged at 33 percent as before Monday’s session

• Nifty put-call ratio (PCR) at 1.22 vs 1.08

• Nifty Bank PCR at 0.86 vs 0.85

• Volatility index India VIX rose two percent to 14.70

The market wizard sees a high point for the headline index at 24,350-24,500 levels and a strong selling point at 24,575-24,675 levels.

With the bank index, you see a high point at 52,325-52,475 levels and a profit booking point at 52,550-52,750 levels.

ANIL SINGHVI MARKET STRATEGIES

For existing long positions:

• Nifty intraday and closing loss at 24,000
• Nifty Bank intraday and closing loss at 51,650

For existing short positions:

• Nifty intraday and closing loss at 24,375
• Nifty Bank intraday and closing loss at 52,350

For new positions in Nifty50:

• Best buy range for Nifty is 24,000-24,150 with stop loss at 23,875 against targets of 24,200, 24,275, 24,350, 24,400, 24,435, 24,465 and 24,500

• Aggressive traders can sell Nifty in the range of 24,400-24,500 with a strong stop loss at 24,575 with targets of 24,350, 24,300, 24,275, 24,225, 24,175 and 24,125

For new positions in Nifty Bank:

• Aggressive traders can buy Nifty Bank in the range of 51,675-51,775 with strong stop loss at 51,550 in terms of 51,900, 52,000, 52,100, 52,175, 52,300 and 52,475

• Aggressive traders can sell Nifty Bank at 52,500 and 52,750 with strong stop loss at 52,850 with targets of 52,325, 52,200, 52,100, 52,025, 51,900 and 51,750

Shares in F&O Ban .

• New in the ban: RBL Bank
• Without restriction: None
• Already closed: None

Stock of the Day

Buy Gov Tech Protein shares with targets of Rs 1,790, Rs 1,820 and Rs 1,850 with stop loss at Rs 1,740

• The company’s revenue for the quarter is around Rs 200 crore
• Annual revenue is Rs 880 crore
• The company received an order of Rs 161 crore from CERSAI; The order is huge for the company

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