Anil Singhvi's Market Outlook for November 21: Key Levels for Nifty50 and Nifty Bank

Investors and traders are closely monitoring the insights provided by market analyst Anil Singhvi for the trading session on November 21st. Singhvi has identified critical support and resistance levels for India's prominent stock indices, Nifty50 and Nifty Bank, which could guide market participants through the day's trading activities.

Support and Resistance Levels

For the Nifty50 index, Singhvi anticipates a support level at 19,665-19,700, with a more robust buying area between 19,575-19,625. On the financial side, the Nifty Bank is expected to find support in the 43,275-43,425 range, with a pronounced buying zone at 43,050-43,150.

Market Sentiment and Trends

According to Singhvi's analysis, the overall global sentiment remains positive. However, Foreign Institutional Investors (FIIs) are showcasing a negative trend, whereas Domestic Institutional Investors (DIIs) hold a neutral stance. The Futures & Options (F&O) segment indicates a positive sentiment, contributing to an overall optimistic market trend.

Upside Potential and Profit-Booking Zones

Singhvi projects a higher zone for Nifty50 at 19,750-19,800 and a profit-booking zone at 19,840-19,900. As for the Nifty Bank index, a higher zone of 43,800-43,900 is expected, with a range of 43,975-44,050 earmarked for booking profits.

Market Dynamics and Expectations

Despite negative pressures from FIIs and neutral DII outflows, Singhvi is confident that the Nifty and Nifty Bank indices are not poised for a downturn. He foresees support coming from the metal and IT sectors, including prominent stocks like Reliance, which may propel the blue-chip index.

Trading Strategies for Long and Short Positions

For existing long positions, Singhvi advises an intraday and closing stop loss at 19,575 for Nifty and 43,300 for Nifty Bank. Conversely, for existing short positions, a stop loss at 19,800 for Nifty and an intraday stop loss at 43,750 with a closing stop loss at 44,000 for Nifty Bank are recommended.

Traders looking to establish new positions are advised to buy Nifty with a stop loss at 19,650 and target various levels up to 19,900, while the Nifty Bank should be bought with a stop loss at 43,300, targeting levels up to 44,050. Conversely, the advised selling range for new positions is 19,800-19,875 for Nifty and 43,900-44,050 for Nifty Bank, with designated stop losses and multiple lower targets.

Update on F&O Ban and Stocks to Watch

Updates in the F&O ban segment include new entries such as BHEL, Indiabulls Housing Finance, and NMDC, with several other companies remaining under the ban. Singhvi also highlights specific stocks like Hindalco and Vedanta futures, among others, recommending buy positions with defined stop losses and target levels.

Nifty, NiftyBank, Trading