Anil Singhvi Market Strategy (May 30): 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 24,600-24,735 levels and a strong buy zone at 24,500-24,600 levels on Friday, May 30. For the Nifty Bank, the market wizard expects support at 55,200-55,350 levels and a strong buy zone at 54,800-55,000 levels.

How market guru Anil Singhvi sums up trade setup:

Global: Neutral
FII: Neutral
DII: Positive
F&O: Neutral
Sentiment: Neutral
Trend: Positive
FII long positions at 20 per cent vs 29 per cent before Thursday's session
Nifty put-call ratio (PCR) at 0.86 vs 0.76
Nifty Bank PCR at 1.01 vs 0.85
Volatility index India INDIA VIX down 9 per cent at 16.42

The market wizard sees a higher zone at 24,900-25,000 levels and a profit-booking zone at 25,050-25,125 for the headline index.

For the banking index, he sees a higher zone at 55,700-55,875 levels and a profit-booking zone at 55,925-56,075 levels.

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

For existing long positions:

Nifty intraday and closing stop loss at 24,650
Nifty Bank intraday and closing stop loss at 55,000

For existing short positions:

Nifty intraday stop loss at 24,925 and closing stop loss at 25,075
Nifty Bank intraday stop loss at 55,800 and closing stop loss at 55,700

For new positions in Nifty50:

Aggressive traders can buy Nifty in the 24,600-24,735 range with a strict stop loss at 24,500 for targets of 24,765, 24,825, 24,850, 24,900, 24,950 and 25,000
Aggressive traders can sell Nifty in the 24,950-25,075 range with a strict stop loss at 25,150 for targets of 24,900, 24,850, 24,825, 24,765, 24,735 and 24,700

For new positions in Nifty Bank:

Aggressive traders can buy Nifty Bank in 55,200-55,350 range with a strict stop loss at 55,000 for targets of 55,425, 55,500, 55,575, 55,675, 55,775 and 55,875
Aggressive traders can sell Nifty Bank in the 55,775-55,925 range with a strict stop loss at 56,100 for targets of 55,700, 55,575, 55,500, 55,425, 55,350 and 55,200

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