Anil Singhvi Market Strategy (June 4): How to trade Nifty 50, Nifty Bank today, key levels to track & more

2 days ago 1

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support for the headline Nifty50 index at 24,400-24,500 levels and a strong buy zone at 24,275-24,365 levels on Wednesday, June 4. For the Nifty Bank, the market wizard expects support at 55,250-55,400 levels and a strong buy zone at 55,000-55,200 levels.

How market guru Anil Singhvi sums up trade setup:

Global: Positive
FII: Negative
DII: Positive
F&O: Neutral
Sentiment: Cautious
Trend: Positive
FII long positions at 17 per cent vs 19 per cent before Tuesday's session
Nifty put-call ratio (PCR) at 0.65 vs 0.82
Nifty Bank PCR at 0.87 vs 1.04
Volatility index India VIX down 3.5 per cent at 16.55

The market wizard expects a higher zone at 24,675-24,750 levels and a strong sell area at 24,825-24,950 levels in the headline index.

In the banking index, he expects a higher zone at 55,750-55,875 levels and a strong sell zone at 55,950-56,100 levels.

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Why are FIIs selling so much?

FIIs went on a major selling spree in the first three days of the June series
Yesterday alone, they sold Rs 8,039 Cr across cash, stocks, and index futures
Domestic funds, however, bought Rs 5,908 Cr—marking the 11th straight day of buying
But there’s no strong or clear reason behind the FIIs’ selling
Nifty levels have now surged from 22,000 to nearly 25,000
Maybe they feel the market has already priced in most of the positives
After a solid rally, even the rupee has now stabilised

Hard to sustain if market opens with a gap-up?

FIIs’ selling is exerting consistent pressure at higher levels
Despite heavy buying from domestic funds, markets can’t hold up
Ongoing block deals are weighing down the market
Had this money come in as regular buying instead of block deals, the market would’ve rallied

Which event could be the game changer?

RBI policy on June 6 could be decisive
A 0.5% rate cut could trigger a strong rally
A 0.25% cut with cautious commentary may lead to selling

Chance to buy shares cheap in block deals?

Four big block deals lined up today
AB Fashion block deal may not yield gains—best to avoid
If Alkem Labs’ block deal comes at a good discount, it could be a trading opportunity
Tata Tech could be a strong investment at block deal or floor price levels

Will the rally in mid- and small-cap stocks continue?

Even in this range-bound market, mid- and small-cap stocks remain impressively strong
No cause for concern unless Nifty closes below 24,450
Selling pressure from FIIs is mostly limited to large-cap stocks
Hence, the market's focus is shifting more towards mid- and small-caps
For now, stay focused on sector- and stock-specific action
Good buying opportunities in mid-cap PSU banks, PSU NBFCs, FMCG, and infra stocks

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

For existing long positions:

Nifty Intraday n Closing SL 24450
Bank Nifty Intraday n Closing SL 55350

For existing short positions:

Nifty Intraday n Closing SL 24900
Bank Nifty Intraday SL 56100 n Closing SL 55925

For new positions in Nifty50:

Aggressive Traders Sell Nifty in 24750-24875 range: Strict SL 25000 Tgt 24675, 24600, 24550, 24500, 24465, 24400
Aggressive Traders Buy Nifty: Strict SL 24450 Tgt 24600, 24675, 24700, 24750, 24800, 24850

For new positions in Nifty Bank:

Aggressive Traders Buy Bank Nifty in 55250-55400 range: Strict SL 55000 Tgt 55475, 55575, 55650, 55750, 55875, 55950, 56075
Aggressive Traders Sell Bank Nifty in 55900-56100 range: Strict SL 56200 Tgt 55825, 55750, 55650, 55575, 55500, 55400

Stocks in F&O ban