Anil Singhvi Market Strategy Today (August 8): 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 24,450-24,550 levels, followed by a stronger support zone at 24,275-24,365 levels on Friday, August 8. For the Nifty Bank, the market wizard expects support at 55,000-55,200 levels and a stronger support zone at 54,825-54,950 levels. 

How market guru Anil Singhvi sums up trade setup:

• Global: Negative

• FII: Negative

• DII: Positive

• F&O: Neutral

• Sentiment: Cautious

• Trend: Neutral

• FII long positions unchanged at 9 per cent as before Thursday's session

• Nifty put-call ratio (PCR) at 0.95 vs 0.79

• Nifty Bank PCR at 0.89 vs 0.87

• Volatility index India VIX down 2 per cent at 11.68

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 55,650-55,750 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 stop loss at 24,325 and closing stop loss at 24,550

• Nifty Bank intraday stop loss at 54,950 and closing stop loss at 55,350

For existing short positions:

• Nifty intraday stop loss at 24,700 and closing stop loss at 24,800

• Nifty Bank intraday 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