Anil Singhvi Market Strategy (June 17): How to trade Nifty 50, Nifty Bank today? Key levels to track & more

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 index at 24,800-24,900 levels and a strong buy zone at 24,625-24,750 levels on Tuesday, June 17. For the Nifty Bank, the market wizard expects support at 55,525-55,675 levels and a strong buy zone at 55,150-55,375 levels. 

How market guru Anil Singhvi sums up trade setup: 

• Global: Positive

• FII: Neutral

• DII: Positive

• F&O: Neutral

• Sentiment: Positive

• Trend: Positive

• FII long positions at 20 per cent vs 19 per cent before Monday's session

• Nifty put-call ratio (PCR) at 1.14 vs 0.89

• Nifty Bank PCR at 0.80 vs 0.73

• Volatility index India VIX down 2 per cent at 14.83

The market wizard expects a higher zone at 25,000-25,100 levels and a profit-booking zone at 25,150-25,225 levels for the headline index.

For the banking index, he expects a higher zone at 56,400-56,550 levels and a strong sell zone at 56,625-56,850 levels.

Key updates about Iran-Israel war

• Attacks continue from both sides 
• Israel has bombed Iran’s national TV channel
• Iran has attacked an oil plant in Israel’s Haifa region
• Iran bombarded Israeli cities throughout the night
• Israel PM Benjamin Netanyahu has said: Peace will come only with the end of Khamenei 

US President Donald Trump’s warning to Iran

• Iran’s defeat is certain, says US President at G7 meeting
• We will always stand by Israel: Trump
• Urged Iran to resolve the issue through talks as soon as possible: Trump
• Iran should sign the deal immediately: US President
• Trump calls Iran’s stance disgraceful and against humanity
• Iran must not possess nuclear weapons, he says
• POTUS urges people to evacuate Tehran immediately
• Trump leaves G7 meeting midway

What does softening in crude oil and gold spell for Dalal Street?

• Crude oil price movement to be decisive for India
• Weakness in both gold and crude oil on Monday is positive for equity markets
• One should keep an eye out for crude oil movement for future market direction

What to make of FII & DII flows

• FIIs sold Rs 2,539 crore in cash market on Monday
• Net-net, FIIs made purchases to the tune of Rs 1,400 crore including stock and index futures  
• DIIs have been buying for 20 consecutive days
• DII net buys amount to Rs 5,781 crore on Monday
• These figures indicate support for the market

Should investors book profits at higher levels?

• Some profit-booking is possible in Nifty in the 25,150-25,225 range (June 11 high)
• Nifty Bank may see profit-booking in the 56,850-57,000 range (June 9 high)
• One can consider buying during intraday dips at key support levels

ANIL SINGHVI MARKET STRATEGY | How to trade Nifty Bank and Nifty50?

For existing long positions: 

• Nifty intraday and closing stop loss at 24,700

• Nifty Bank intraday and closing stop loss at 55,500

For existing short positions:

• Nifty intraday stop loss at 25,050 and closing stop loss at 25,150 

• Nifty Bank intraday and closing stop loss at 56,200

For new positions in Nifty50:

• Best range to Buy Nifty is 24700-24850: SL 24600 Tgt 24900, 24950, 25000, 25050, 25100, 25150

• Aggressive Traders Sell Nifty in 25050-25200 range: Strict SL 25250 Tgt 24950, 24900, 24850, 24825, 24750, 24700

For new positions in Nifty Bank:

• Best range to Buy Bank Nifty is 55525-55750: SL 55375 Tgt 55950, 56075, 56150, 56400, 56475, 56550, 56625

• Aggressive Traders Sell Bank Nifty in 56450-56700 range: Strict SL 56850 Tgt 56150, 56000, 55950, 55800, 55700, 55525

Stocks in F&O ban

• Out of ban: IEX

• Already in ban: HUDCO, Manappuram, Birlasoft Tech, CDSL, IREDA, RBL Bank, Titagarh, Chambal Fertilisers, AB Fashion

• New in ban: None