Market Strategy by Anil Singhvi December 23: Key levels to watch in Nify50, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support to emerge at 23,450-23,550 levels and a strong support zone at 23,250-23,350 levels in the Nifty50 headline index on Monday, December 23. In Nifty Bank, he expects support at 50,175 levels -50,37,37,37 and a strong buying position 49,800-50,075 levels.

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

• Global: Good

• FII: Bad

• DII: Good

• F&O: Neutral

• Feeling: Bad

• Trend: Neutral

• Long FII positions at 31 percent compared to 33 percent before the previous session

• Nifty put-call ratio (PCR) at 0.80 vs 0.91

• Nifty PCR was unchanged at 0.52

• Volatility index India VIX rose four percent to 15.07

The market wizard sees a high point for the headline index at 23,775-23,875 levels and a strong selling point at 23,950-24,050 levels. With the bank index, you see a high area at 51,100-51,275 levels and a profit booking area at 51,475-51,625 levels.

ANIL SINGHVI MARKET STRATEGIES

For existing long positions:

• Nifty intraday and closing loss at 23,500

• Nifty Bank intraday and closing loss at 50,450

For existing short positions:

• Nifty intraday stop loss at 23,700 and closing loss at 24,075

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

For new positions in Nifty50:

• Buy Nifty with stop loss at 23,500 to find targets of 23,675, 23,775, 23,850, 23,950, 24,000 and 24,050

• Aggressive traders can sell Nifty in the range of 23,875-24,000 with strong stop loss at 24,100 with targets of 23,800, 23,675, 23,625, 23,575 and 23,550

For new positions in Nifty Bank:

• Buy Nifty Bank with stop loss at 50,500 to find targets of 50,975, 51,150, 51,250, 51,475, 51,575, 51,625 and 51,775

• Aggressive traders can sell Nifty Bank in the range of 51,500-51,775 with a strong stop loss at 52,000 in terms of 51,275, 51,150, 51,000, 50,775, 50,625 and 50,550

Will FIIs stop selling and start buying soon?

• On Friday, FIIs withdrew a total of Rs 5,900 crore from Indian stocks across the cash, stock and index futures categories.
• The recent trends of FII have faced a crisis in the market
• One can expect to cover the market short until the end of the monthly F&O period
• Even some buying by FIIs on Monday will cause a strong rise in the market

Should you use an ‘upsell’ strategy?

• Traders should reduce their positions on the upside
• Bright positions will make them understand new positions clearly
• Save the night light spots for now
• Investors have been advised to continue taking positions until Friday
• They can look for buying opportunities until the first week of January now
• It is expected to increase from the second week of the month until the Budget
• Banks, metals, midcap and small stocks are expected to see strong buying interest during the recovery

Important closing levels will be followed

• Resistance is seen at 24,050-24,200 and 51,575-51,800 ranges for Nifty and Nifty Bank respectively.
• A close above 24,075 will signal the end of the Nfty50’s weakness
• Similarly, a close above 51,650 would signal an end to the bank index’s weakness
• Close levels above 24,200 and 52,150 will lead to continued buying in Nifty and Nifty Bank respectively.
• Strongest support at 23,275-23,450 and 49,800-50,075 respectively
• It is important for the market to form a double bottom pattern from its November 21 lows

Shares in F&O Ban .

• New in the ban: RBL Bank
• Without restriction: NMDC, PVR
• Already banned: Bandhan Bank, Manappuram Finance, SAIL, Hindustan Copper, Granules India

Stocks of the Day

Buy JSW Infra shares with targets of Rs 313 and Rs 318 with a stop loss of Rs 304

• Infra stocks offer a good pre-budget investment opportunity
• Pre-budget purchases are expected after a favorable adjustment

Buy Zomato futures with targets of Rs 285, Rs 288 and Rs 291 with a stop loss of Rs 274

Buy Swiggy shares in the money segment at targets of Rs 605, Rs 610 and Rs 620 with a stop loss of Rs 585

• No GST is levied on food delivery platforms at council meetings

Buy Aurobindo Pharma futures at targets of Rs 1,255, Rs 1,268 and Rs 1,275 with stop loss at Rs 1,230

• The company’s UK subsidiary has received approval for a cancer drug

Buy JSW Steel futures with targets of Rs 942, Rs 935 and Rs 952 with a stop loss of Rs 912

Buy JSPL futures with targets of Rs 919, Rs 925 and Rs 935 with a stop loss of Rs 899

• An increase in activity may occur during an increase in iron intake; DGTR informed about anti-dumping investigation

Sell ​​Dalmia Bharat futures with a target of Rs 1,770 and Rs 1,745 with a stop loss at Rs 1,825.

• Chief technology officer Rajeev Bansal has resigned

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