Anil Singhvi Market Strategy Today (August 29): How to trade Nifty 50, Nifty Bank today? Key levels to track

Anil Singhvi Market Strategy Today: Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 index at 24,335-24,400 levels and a stronger support zone at 24,150-24,300 levels on Friday, August 29. For the Nifty Bank, the market wizard expects support to emerge at 53,500-53,600 levels and a stronger support zone at 53,100-53,350 levels. 

How market guru Anil Singhvi sums up trade setup:

• Global: Positive

• FII: Negative

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• DII: Positive

• F&O: Neutral

• Sentiment: Negative

• Trend: Neutral

• FII long positions are at 8 per cent as against 14 per cent before Thursday's session

• Nifty put-call ratio (PCR) at 0.85 vs 0.72

• Nifty Bank PCR at 0.96 vs 0.54

• Volatility index India VIX is unchanged at 12.17

The market wizard expects a higher zone at 24,535-24,625 levels and a strong sell zone at 24,675-24,800 levels for the headline index.

For the banking index, he expects a higher zone at 54,375-54,450 levels and a profit-booking zone at 54,575-54,700 levels.​

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

For existing long positions:

• Nifty Intraday n Closing SL 24325

• Bank Nifty Intraday n Closing SL 53500

For existing short positions:

• Nifty Intraday n Closing SL 24725

• Bank Nifty Intraday n Closing SL 54500

For new positions in Nifty50:

Stocks in F&O ban

• Out of ban: RBL Bank

• Already in ban: None

• New in ban: None