Anil Singhvi's Strategy for the Indian Market on November 21

On the trading day of November 21, Anil Singhvi, the Managing Editor of a prominent business news channel, observed the market's movements and offered strategic insights. As per Singhvi's analysis, he identified critical levels for both the Nifty50 and the Nifty Bank indices which are pivotal for traders to monitor.

Support and Resistance Levels

Singhvi notes that the primary Nifty50 index anticipates support between 19,665 and 19,700, advising a strong buy in the 19,575 to 19,625 range. Conversely, the Nifty Bank is expected to find support in the 43,275 to 43,425 bracket with a robust buy zone set at 43,050 to 43,150.

Market Sentiment and Trend Analysis

The expert's view on the overall market sentiment is positive, citing several factors impacting this outlook including global market conditions, futures & options (F&O) market, and current trader sentiment. However, he mentioned negative pressure from foreign institutional investors (FII) and a neutral position from domestic institutional investors (DII).

As for market trends, the Nifty50 could reach a higher zone at 19,800 to 19,900, while the banking index could attain a range of 44,000 to 44,200. The strategy also encompasses specific sectors such as metals and IT, as well as significant stocks like Reliance that could bolster the indices.

Positioning and Stop Loss Guidelines

Anil Singhvi gives detailed advice for traders holding positions, suggesting stop loss limits for mitigating risks. For ongoing long positions, he recommends Nifty and Nifty Bank intraday and closing stop losses at 19,575 and 43,300 respectively. For current short positions, the Nifty has an intraday and closing stop loss at 19,800, and the Nifty Bank at 43,750 and 44,000 respectively.

New positions come with their own set of instructions. Singhvi recommends buying Nifty with a target range of 19,750 to 19,900 and a stop loss at 19,650. For selling, the range is 19,800 to 19,875 with a stop loss at 19,925. The Nifty Bank follows a similar pattern with buy and sell ranges provided alongside respective stop losses.

Significant Stock Recommendations

The strategist also highlighted specific stocks such as Hindalco, Vedanta, and Titagarh Wagons, providing targeted advice with buy signals and stop losses leveraging recent events and market strengths, particularly in the metals sector and industrial partnerships.

Nifty50, BankNifty, Strategy