Anil Singhvi's Trading Strategy for Nifty50 and Nifty Bank on November 21

Market strategist Anil Singhvi has laid out key levels for traders to watch in the Nifty50 and Nifty Bank indices for the trading session on November 21. Singhvi has pinpointed that the Nifty50 index is likely to find support at the 19,665-19,700 range, with a pronounced buy zone between 19,575-19,625. Concurrently, the Nifty Bank's support is expected to manifest within 43,275-43,425, and a pronounced buy range is delineated at 43,050-43,150.

Overview of Market Dynamics

Global market trends are favorable, though foreign institutional investors (FIIs) exhibit a negative disposition. Domestic institutional investors (DIIs) maintain a neutral stance while the futures and options (F&O) segment shows a positive outlook. The market sentiment and trends are both positive, inspiring a sense of upward potential for the day's trading.

Targets and Stop Loss Levels

For traders holding or opening long positions, Singhvi recommends Nifty intraday and closing stop loss at 19,575, and for Nifty Bank, at 43,300. Short positions in Nifty and Nifty Bank should be secured with intraday stop losses at 19,800 and 43,750, respectively, and closing stop losses at 19,800 and 44,000. New long positions would aim for targets extending from the buy zones to the higher zones of 19,750-19,900 for Nifty and 43,675-44,050 for Nifty Bank. Conversely, new short positions should look for targets starting from the upper thresholds of 19,800-19,875 for Nifty and 43,900-44,050 for Nifty Bank back down to the support levels.

F&O Ban Update and Stocks of the Day

With new additions to the F&O ban list including BHEL, Indiabulls Housing Finance, and NMDC, and others still remaining, traders need to be cautious of any positions in these securities. Top stock recommendations to consider include buying futures of Hindalco, Vedanta, and Titagarh Rail Systems with specific stop loss levels for favorable targets.

Strategy, Nifty50, Trading