Anil Singhvi's Market Strategy for December 4

Anil Singhvi's Market Strategy: Anil Singhvi, the Managing Editor of Zee Business, has shared his insights regarding the market on December 4. He anticipates key support levels emerging for the Nifty50 index between 24,275 and 24,350, with a strong buying opportunity identified in the range of 24,150 to 24,225.

For the Nifty Bank index, Singhvi expects support to materialize at levels ranging from 52,325 to 52,550, with a buying zone highlighted between 52,075 and 52,200.

Morning Trade Setup Summary

• Global Sentiment: Positive

• Foreign Institutional Investors (FII): Positive

• Domestic Institutional Investors (DII): Neutral

• F&O Sentiment: Neutral

• Overall Market Sentiment: Positive

• Trend: Neutral

• FII Long Positions: 36% compared to 33% prior to Tuesday's session

• Nifty Put-Call Ratio (PCR): 1.29 versus 1.22

• Nifty Bank PCR: 1.02 versus 0.86

• Volatility Index (VIX): Decreased by 2% to 14.37

Singhvi points to higher target zones for Nifty50 at 24,500 to 24,600, while profit-taking could occur at levels between 24,650 and 24,775. Similarly, for Nifty Bank, the upper zone is set between 52,950 and 53,100, with profit booking anticipated from 53,175 to 53,350.

Trading Strategy Highlights

For Existing Long Positions:

• Nifty: Set an intraday and closing stop loss at 24,250
• Nifty Bank: Maintain an intraday stop loss at 52,450 and a closing stop loss at 52,000

For Existing Short Positions:

• Nifty: Set intraday and closing stop loss at 24,525
• Nifty Bank: Maintain an intraday and closing stop loss at 52,800

For New Nifty50 Positions:

• The ideal buying range for Nifty is 24,300 to 24,400, with a stop loss at 24,250 and targets of 24,500, 24,575, 24,600, 24,650, 24,675, and 24,725.
• Aggressive traders may consider selling Nifty within the 24,575 to 24,675 range with a strict stop loss at 24,800, targeting levels at 24,500, 24,450, 24,400, 24,350, 24,300, and 24,275.

For New Nifty Bank Positions:

• The best buy levels for Nifty Bank are at 52,550 and 52,325, with a stop loss at 52,150 and targets set for 52,700, 52,775, 52,950, 53,100, 53,175, 53,225, and 53,350.
• Aggressive traders can sell Nifty Bank in the 52,975 to 53,175 range, maintaining a stop loss at 53,350 with targets of 52,800, 52,700, 52,550, 52,450, 52,325, and 52,200.

Stocks in F&O Ban:

• Newly included in ban: Granules India, Manappuram Finance
• Previously in ban: RBL Bank
• Currently not in ban: None

Stocks of the Day:

Investors are encouraged to buy HAL futures with a stop loss set at Rs 4,480, targeting Rs 4,590, Rs 4,635, and Rs 4,690. Similarly, BEL futures are recommended for purchase with a stop loss at Rs 307, aiming for targets of Rs 317 and Rs 322.

Lately, the DAC has approved procurements amounting to Rs 21,800 crore. Additional updates and market news can be followed for ongoing insights into the stock market.

Market, Strategy, Nifty, Bank