Anil Singhvi Market Strategy December 10: Important levels to track in Nifty50, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support to emerge at 24,400-24,500 levels and a strong buy zone at 24,275-24,375 levels for the headline Nifty50 index on Tuesday, December 10. For the Nifty Bank, he expects support at 53,025-53,175 levels and a strong buy zone at 52,700-52,850 levels.

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

• Global: Negative

• FII: Neutral

• DII: Negative

• F&O: Neutral

• Sentiment: Neutral

• Trend: Positive

• FII long positions unchanged at 45 per cent as the previous day

• Nifty put-call ratio (PCR) at 0.90 vs 1.03

• Nifty Bank PCR at 0.98 vs 1.06

• Volatility index India VIX down unchanged at 14.11

The market wizard sees a higher zone for the headline index at 24,675-24,750 levels and a strong sell zone at 24,800-24,850 levels.

For the banking index, he sees a higher zone at 53,500-53,600 levels and a profit-booking zone at 53,700-53,875 levels.

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

• Nifty intraday stop loss at 24,550 and closing stop loss at 24,450
• Nifty Bank intraday and closing stop loss at 53,100

For existing short positions:

• Nifty intraday and closing stop loss at 24,750
• Nifty Bank intraday stop loss at 53,900 and closing stop loss at 53,650

For new positions in Nifty50:

• The best range to buy Nifty is 24,400-24,500 with a stop loss at 24,250 for targets of 24,575, 24,625, 24,675, 24,700 and 24,750

• Aggressive traders can sell Nifty in the 24,675-24,750 range with a strict stop loss at 24,900 for targets of 24,625, 24,575, 24,500, 24,465, 24,435 and 24,400

For new positions in Nifty Bank:

• The best range to buy Nifty Bank is 52,675-52,850 with a stop loss at 52,500 for targets of 52,975, 53,100, 53,150, 53,275 and 53,375

• Aggressive traders can buy Nifty Bank in the 53,000-53,150 range with a strict stop loss at 52,825 for targets of 53,275, 53,325, 53,400, 53,500, 53,600, 53,775 and 53,850

• Aggressive traders can sell Nifty Bank in the 53,600-53,850 range with a strict stop loss at 54,000 for targets of 53,525, 53,425, 53,325, 53,275, 53,175 and 53,025

Stocks in F&O Ban ​

• Already in ban: PVR Inox, RBL Bank, Granules, Manappuram Fin
• New in ban: None
• Out of ban: None

Stocks of the Day

Buy Anantraj shares for targets of Rs 748, Rs 755 and Rs 765 with a stop loss at Rs 732

• DAM Capital has raised its target for the stock to Rs 1,080

Buy GE Vernova T&D shares for targets of Rs 1,965, Rs 1,990 and Rs 2,025 with a stop loss at Rs 1,920 

• The company has received an order from Sterlite Power

Buy Religare Enterprises shares for targets of Rs 283, Rs 287 and Rs 295 with a stop loss at Rs 272 

• RBI has approved the Burman family's open offer  
• The family will sell a 26 per cent stake through the open offer

Buy Swiggy shares for targets of Rs 542, Rs 547 and Rs 555 with a stop loss at Rs 528 

• CLSA has initiated coverage with 'outperform' rating with a target of Rs 708

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