Anil Singhvi Market Strategy (May 29): How to trade Nifty 50, Nifty Bank today, key levels to track & more

1 day ago 1

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support for the headline Nifty50 index at 24,600-24,700 levels and a strong buy zone at 24,475-24,575 levels on Thursday, May 29. For the Nifty Bank, the market wizard expects support at 55,025-55,225 levels and a strong buy zone at 54,800-55,000 levels.

How market guru Anil Singhvi sums up trade setup:

Global: Positive
FII: Negative
DII: Neutral
F&O: Neutral
Sentiment: Neutral
Trend: Positive
FII long positions at 29 per cent vs 31 per cent before Wednesday's session
Nifty put-call ratio (PCR) at 0.76 vs 0.82
Nifty Bank PCR at 0.85 vs 0.86
Volatility index India VIX down 3 per cent at 18.01

The market wizard sees a higher zone at 24,850-24,950 levels and a profit-booking zone at 25,000-25,075 levels for the headline index.

For the banking index, he sees a higher zone at 55,575-55,700 levels and a profit-booking zone at 55,825-56,000 levels.

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

For existing long positions:

Nifty Intraday n Closing SL 24650
Bank Nifty Intraday n Closing SL 55000

For existing short positions:

Nifty Intraday SL 24900 n Closing SL 25075
Bank Nifty Intraday n Closing SL 55700

For new positions in Nifty50:

Aggressive Traders Buy Nifty: Strict SL 24650 Tgt 24825, 24850, 24900, 24950, 25000, 25065
Aggressive Traders Sell Nifty in 24900-25000 range: Strict SL 25125 Tgt 24850, 24800, 24765, 24735, 24700, 24665

For new positions in Nifty Bank:

Best range to Buy Bank Nifty is 55050-55250: SL 54950 Tgt 55375, 55425, 55500, 55575, 55650, 55825
Aggressive Traders Buy Bank Nifty: Strict SL 55200 Tgt 55500, 55575, 55650, 55825, 55875, 55925
Aggressive Traders Sell Bank Nifty in 55675-55875 range: Strict SL 56000 Tgt 55575, 55500, 55425, 55350, 55250, 55175

Stocks in F&O ban