Anil Singhvi Market Strategy (May 22): Important levels to track in Nifty 50, Nifty Bank today

4 hours ago 1

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support for the headline Nifty50 index at 24,575-24,675 levels and a strong buy zone at 24,450-24,550 levels on Thursday, May 22. For the Nifty Bank, the market wizard expects support at 54,675-54,825 levels and a stronger support zone at 54,450-54,600 levels.

How market guru Anil Singhvi sums up trade setup:

Global: Negative
FII: Positive
DII: Neutral
F&O: Neutral
Sentiment: Neutral
Trend: Positive
FII long positions unchanged at 37 per cent as before Wednesday's session
Nifty put-call ratio (PCR) at 0.81 vs 0.69
Nifty Bank PCR at 0.79 vs 0.77
Volatility index India VIX up 1 per cent at 17.54

The market wizard sees a higher zone at 24,900-24,975 levels nad a strong sell zone at 25,000-25,100 levels for the headline index.

For the banking index, he sees a higher zone at 55,300-55,475 levels and a strong sell zone at 55,575-55,700 levels.

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

For existing long positions:

Nifty intraday and closing stop loss at 24650
Nifty Bank intraday and closing stop loss at 54650

For existing short positions:

Nifty intraday and closing stop loss at 25025
Nifty Bank intraday and closing stop loss at 55500

For new positions in Nifty50:

The best range to Buy Nifty is 24550-24675: stop loss at 24475 for targets of 24765, 24800, 24850, 24925, 24950, 25000
The best range to Sell Nifty is 24950-25050: stop loss at 25150 for targets of 24850, 24765, 24700, 24665, 24575, 24550

For new positions in Nifty Bank:

Aggressive traders can buy Nifty Bank in 54450-54600 range with a strict stop loss at 54350 for targets of 54700, 54825, 54875, 55000, 55075, 55175
Aggressive traders can sell Nifty Bank in 55350-55500 range with a strict stop loss at 55700 for targets of 55200, 55075, 55000, 54900, 54825, 54700

Stocks in F&O ban