Anil Singhvi Market Strategy (May 23): Important levels to track in Nifty 50, Nifty Bank today

7 hours ago 1

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support for the headline Nifty50 index at 24,375-24,450 levels and a stronger support zone at 24,200-24,300 levels on Friday, May 23. For the Nifty Bank, the market wizard expects support at 54,450-54,600 levels and a stronger support zone at 54,175-54,375 levels.

How market guru Anil Singhvi sums up trade setup:

Global: Neutral
FII: Negative
DII: Positive
F&O: Neutral
Sentiment: Cautious
Trend: Positive
FII long positions at 32 per cent vs 37 per cent before Thursday's ession
Nifty put-call ratio (PCR) at 0.79 vs 0.81
Nifty Bank PCR at 0.78 vs 0.79
Volatility index India VIX down 2 per cent at 17.25

The market wizard sees a higher zone at 24,665-24,765 levels and a strong sell zone at 24,800-24,925 levels for the headline index.

For the banking index, he sees a higher zone at 55,175-55,350 levels and a strong sell zone at 55,425-55,575 levels.

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

For existing long positions:

Nifty Intraday and Closing SL 24450
Bank Nifty Intraday and Closing SL 54450

For existing short positions:

Nifty Intraday SL 24750 and Closing SL 24825
Bank Nifty Intraday and Closing SL 55350

For new positions in Nifty50:

Aggressive Traders Buy Nifty in 24375-24500 range: Strict SL 24275 Tgt 24600, 24665, 24735, 24765, 24800, 24850
Aggressive Traders Sell Nifty in 24735-24850 range: Strict SL 24950 Tgt 24685, 24600, 24575, 24500, 24450, 24400

For new positions in Nifty Bank:

Aggressive Traders Buy Bank Nifty in 54450-54600 range: Strict SL 54350 Tgt 54700, 54825, 54875, 54950, 55000, 55075, 55175
Aggressive Traders Sell Bank Nifty in 55300-55500 range: Strict SL 55700 Tgt 55200, 55075, 55000, 54900, 54825, 54700, 54600

Stocks in F&O ban