Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support to emerge at 24,365-24,465 levels and a strong support zone at 24,200-24,300 levels on the Nifty50 headline index on Friday, December 13. For Nifty Bank, he expects support at 52,700- 52.85 and a strong support area 52,450-52,550 levels.
Here’s how the market guru summed up the trade setup this morning:
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Global: Bad
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FII: Bad
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DII: Good
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F&O: Neutral
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Feeling: Neutral
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Trends: Positive
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Long FII positions at 40 percent compared to 43 percent before the previous session
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Nifty put-call ratio (PCR) at 1.02 vs 0.87
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Nifty Bank PCR at 0.90 vs 0.95
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The Volatility India VIX index was down 0.5 percent at 13.19
The market wizard sees a high area for the headline index at 24,575-24,625 levels and a strong selling area at 24,675-24,750 levels.
With the bank index, you see a high area at the levels of 53,400-53,525 and a strong selling area at the levels of 53,575-53,775.
ANIL SINGHVI MARKET STRATEGIES
For existing long positions:
- Nifty intraday and closing loss at 24,450
- Nifty Bank intraday stop loss at 53,150 and closing stop loss at 52,675.
With short positions available:
- Intraday Nifty and closing loss at 24,725
- Nifty Bank intraday and closing loss at 53,650
For new positions in Nifty50:
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Aggressive traders can sell Nifty with strong stop loss at 24,725 with targets of 24,465, 24,435, 24,400, 24,365, 24,300 and 24,265
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Aggressive traders can buy Nifty in the range of 24,365-24,465 with strong stop loss at 24,250 with targets of 24,435, 24,465, 24,500, 24,550, 24,575 and 24,600
For new positions in Nifty Bank:
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Aggressive traders can sell Nifty Bank in the range of 53,400-53,600 with a strong stop loss at 53,700 in terms of 53,225, 53,175, 53,025, 52,850, 52,775 and 52,700
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Best buy range for Nifty Bank is 52,700-52,850 with stop loss at 52,600 against targets of 52,950, 53,025, 53,150, 53,225, 53,300 and 53,400
Shares in F&O Ban .
- New ban: NALCO
- Without restriction: Manappuram funds
- Already banned: Hindustan Copper, Metropolis, PVR Inox, RBL Bank, Granules India
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