Anil Singhvi Market Strategy Today (August 7): 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 24,450-24,500 levels and a stronger support zone at 24,275-24,400 levels on Thursday, August 7. For the Nifty Bank, the market wizard expects support at 55,000-55,200 levels and a stronger support zone at 55,700-55,875 levels. 

How market guru Anil Singhvi sums up trade setup:

• Global: Neutral

• FII: Negative

• DII: Positive

• F&O: Neutral

• Sentiment: Negative

• Trend: Neutral

• FII long positions at 9 per cent vs 8 per cent before Wednesday's session

• Nifty put-call ratio (PCR) at 0.74 vs 0.83

• Nifty Bank PCR unchanged at 0.82

• Volatility index India VIX up 2 per cent at 11.96

The market wizard expects a higher zone at 24,635-24,735 levels and a profit-booking zone at 24,765-24,850 levels for the headline index.

For the banking index, he expects a higher zone at 55,625-55,750 levels and a profit-booking zone at 55,850-56,000 levels. 

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

For existing long positions:

• Nifty intraday and closing stop loss at 24,450

• Nifty Bank intraday and closing stop loss at 55,000

For existing short positions:

• Nifty intraday and closing stop loss at 24,800

• Nifty Bank intraday stop loss at 55,650 and closing stop loss at 55,750

For new positions in Nifty50:

Stocks in F&O ban

• Already in ban: PNB Housing Finance

• Out of ban: None

• New in ban: None