Anil Singhvi’s Strategy on Nov 30: Day support zone on Nifty is 16925-17025 & Bank Nifty is 35500-35625

Amid positive global sentiments, neutral foreign institutional investors (FIIs) data, positive domestic institutional investors (DIIs), and future & options (F&O) cues, the overall sentiment stands neutral and the trend remains negative on Tuesday, November 30, 2021. 

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The Indian markets on Monday closed on a positive note despite the selloff in the majority of sectors and the new Covid 19 variant detected in South Africa. The benchmark indices Sensex jumped over 150 points and Nifty50 ended flat with a positive bias on Monday.  

Realty, metal, Auto, PSU Bank stocks triggered the decline as they slipped between 0.5-1 per cent on Monday. On the Nifty 50 index, Kotak Bank along with HDFC Life and HCL Tech were the top gainers, while Adani ports, ONGC and JSW Steel were the laggards.   

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for November 30 

Nifty 16925-17025 Day support zone, Below that 16700-16800 strong Buy zone 

Nifty 17150-17200 Day higher zone, Above that 17275-17350 strong Profit booking zone 

BankNifty 35500-35625 Day support zone, Below that 35125-35350 strong Buy zone 

BankNifty 36350-36550 Day higher zone, Above that 36650-36850 strong Profit booking zone 

Nifty 17000-17200 Small Day Range, 16925-17275 Medium Range, 16800-17350 Bigger Range 

BankNifty 35900-36350 Small Day Range, 35650-36650 Medium Range, Bigger Range 35350-36850 

FIIs Index long increased to 66% Vs 59% 

PCR near oversold at 0.84 Vs 0.73, short covering expected 

India VIX unchanged at 20.83 

For Existing Long Positions: 

Nifty Intraday n Closing SL 16950 

BankNifty Intraday n Closing SL 35850 

For Existing Short Positions: 

Nifty Intraday n Closing SL 17225 

BankNifty Intraday SL 36350 n Closing SL 36650 

For New Positions: 

Buy Nifty: 

SL 16950 Tgt 17150, 17200, 17275, 17350 

Sell Nifty in 17275-17400 range: 

SL 17500 Tgt 17225, 17175, 17100, 17050 

For New Positions: 

Aggressive Traders Buy BankNifty: 

Strict SL 35850 Tgt 36350, 36425, 36550, 36650, 36850, 36975, 37125 

Aggressive Traders Sell BankNifty in 36650-36850 range: 

Strict SL 37150 Tgt 36550, 36425, 36350, 36200, 36025 

F&O Ban Update: 

Already In Ban: Indiabulls Housing Finance 

New In Ban: Nil 

Out Of Ban: Nil  

Stock Of The Day: 

Buy Coal India Futures: 

SL 153 Tgt 159, 163, 165 

Coal India announced 9 Rupees Dividend, 6% Dividend Yield 

Coal price hike to benefit in December Quarter Results 

Star Health IPO Preview: 

Risk taking investors apply for long term else buy post listing 

Positives: 

Strong Growth Track Record 

Market Leader and Strong Promoters 

Negatives: 

Company incurred loss in FY21 and current year 

Expensive Valuations 

In March 2021 shares issued at 489 and now IPO at 900 Rupees 

Go Fashion Listing Preview: 

Expected to list around 1150-1200 against issue price of 690 

Investors should HOLD with trailing Stoploss of 1000