Anil Singhvi's Market Strategy for December 4: Key Insights and Stock Picks

Anil Singhvi's Market Strategy: Anil Singhvi, Managing Editor, shares his insights and strategies for the market on December 4. His analysis includes support and resistance levels for the Nifty50 and Nifty Bank indices, providing a roadmap for traders.

Singhvi expects the Nifty50 index to find support in the range of 24,275-24,350. He identifies a strong buying opportunity at lower levels between 24,150-24,225. For the Nifty Bank, support is anticipated at 52,325-52,550, with a buying zone between 52,075-52,200.

Market Overview

• Global Sentiment: Positive

• Foreign Institutional Investors (FII): Positive

• Domestic Institutional Investors (DII): Neutral

• Futures and Options (F&O): Neutral

• Market Sentiment: Positive

• Market Trend: Neutral

• Long FII positions: 36% vs 33% previously

• Nifty Put-Call Ratio: 1.29 vs 1.22

• Nifty Bank Put-Call Ratio: 1.02 vs 0.86

• Volatility Index (VIX): Down 2% at 14.37

Singhvi sees potential for the Nifty to rise to 24,500-24,600, with profit booking likely between 24,650-24,775. For Nifty Bank, he projects an upward potential of 52,950-53,100, with profit-taking possible at 53,175-53,350.

Strategies for Different Positions

For Existing Long Positions:

• Nifty stop loss (intraday and closing): 24,250
• Nifty Bank stop loss (intraday): 52,450; closing: 52,000

For Existing Short Positions:

• Nifty stop loss (intraday and closing): 24,525
• Nifty Bank stop loss (intraday and closing): 52,800

For New Positions in Nifty50:

• Best buying range: 24,300-24,400 with a stop loss at 24,250 and targets at 24,500, 24,575, 24,600, 24,650, 24,675, and 24,725.
• Aggressive traders can consider selling in the 24,575-24,675 range, maintaining a stop loss at 24,800 towards targets of 24,500, 24,450, 24,400, 24,350, 24,300, and 24,275.

For New Positions in Nifty Bank:

• Optimal levels to buy: 52,550 and 52,325, with a stop loss at 52,150 for targets between 52,700 and 53,350.
• Aggressive sellers can target 52,975-53,175, using a stop loss at 53,350 with targets of 52,800, 52,700, 52,550, 52,450, 52,325, and 52,200.

Stocks in Ban

• New additions: Granules India, Manappuram Finance
• In ban: RBL Bank
• Out of ban: None

Stocks to Watch

Consider buying HAL futures with a stop loss at Rs 4,480 targeting Rs 4,590, Rs 4,635, and Rs 4,690.

Similarly, buying BEL futures with a stop loss at Rs 307 is recommended for targets of Rs 317 and Rs 322.

With the Defence Acquisition Council (DAC) approving procurements worth Rs 21,800 crore, keep an eye on relevant stocks.

Stay updated on the stock market for the latest trends and news.

Strategy, Market, Stocks