Anil Singhvi Market Strategy December 13: Important levels to track in Nifty50, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support to emerge at 24,365-24,465 levels and a stronger support zone at 24,200-24,300 levels for the headline Nifty50 index on Friday, December 13. For the Nifty Bank, he expects support at 52,700-52,850 levels and a stronger support zone at 52,450-52,550 levels.

According to the market wizard, the biggest question today is whether the market will recover from its gap-down opening. 

Here's how the market guru sums up the trade setup this morning: 

• Global: Negative

• FII: Negative

• DII: Positive

• F&O: Neutral

• Sentiment: Neutral

• Trend: Positive

• FII long positions at 40 per cent vs 43 per cent before the previous session

• Nifty put-call ratio (PCR) at 1.02 vs 0.87

• Nifty Bank PCR at 0.90 vs 0.95

• Volatility index India VIX down 0.5 per cent at 13.19 

The market wizard sees a higher zone for the headline index at 24,575-24,625 levels and a strong sell zone at 24,675-24,750 levels.

For the banking index, he sees a higher zone at 53,400-53,525 levels and a strong sell zone at 53,575-53,775 levels.

Is Dow weakening further?

• Dow has fallen for six sessions in a row
• Latest bout of weakness has emerged after US PPI data
• Stocks look weak but not giving up 
• Clear market direction expected after next week's Fed policy review 

How will consumer inflation and industrial production data impact Dalal Street?

• Inflation has eased in November as expected
• Factory output growth at three-month high, along expected lines
• Both data sets neutral for the market

Are FIIs once again in the mood to sell?

• FII outflows have increased gradually over four days
• Major selling on Thursday
• Outflows amount to Rs 10,100 crore across cash, index and stock futures 
• Strong dollar, weak Dow, holiday season-related profit-taking on Wall Street
• Friday's FII data will be important to watch out for
• Major selling may trigger the risk of a slump on Dalal Street

EDITOR'S TAKE

Closing levels below 24,450 for the Nifty50 and below 52,675 for the Nifty Bank may lead to extended bouts of weakness, and on the other hand, levels above 24,725 and 53,650 may lead to further gains on Dalal Street, according to the market guru. He also points out that investors may consider fresh buying in midcap and smallcap stocks as long as the market holds its current range. On the other hand, they may consider booking profits in these segments in case the market looks incapable of sustaining the range, he adds. 

He expects defence and oil stocks to stage strong moves and on the other hand, he believes pharma and FMCG scrips to remain weak. 

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

• Nifty intraday and closing stop loss at 24,450
• Nifty Bank intraday stop loss at 53,150 and closing stop loss at 52,675

For existing short positions:

• Nifty intraday and closing stop loss at 24,725
• Nifty Bank intraday and closing stop loss at 53,650

For new positions in Nifty50:

• Aggressive traders can sell Nifty with a strict stop loss at 24,725 for targets of 24,465, 24,435, 24,400, 24,365, 24,300 and 24,265

• Aggressive traders can buy Nifty in the 24,365-24,465 range with a strict stop loss at 24,250 for targets of 24,435, 24,465, 24,500, 24,550, 24,575 and 24,600

For new positions in Nifty Bank:

• Aggressive traders can sell Nifty Bank in the 53,400-53,600 range with a strict stop loss at 53,700 for targets of 53,225, 53,175, 53,025, 52,850, 52,775 and 52,700

• The best range to buy Nifty Bank is 52,700-52,850 with a stop loss at 52,600 for targets of 52,950, 53,025, 53,150, 53,225, 53,300 and 53,400

Stocks in F&O Ban ​

• New in ban: NALCO
• Out of ban: Manappuram Finance
• Already in ban: Hindustan Copper, Metropolis, PVR Inox, RBL Bank, Granules India

Stocks of the Day

Buy HAL futures for targets of Rs 4,785, Rs 4,840 and Rs 4,870 with a stop loss at Rs 4,620 

• The PSU has bagged a Rs 21,000-crore order for SU-30MKI aircraft 

Buy IOC futures for targets of Rs 144 and Rs 147 with a stop loss at Rs 139.5 

• Jefferies has upgraded the stock from 'hold' to 'buy' with a revised target price of Rs 185 instead of the earlier Rs 165 

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