Market Strategy Today (July 31): 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 24,600-24,675 levels and a stronger support zone at 24,365-24,500 levels on Thursday, July 31. For the Nifty Bank, the market wizard expects support at 55,675-55,850 levels and a stronger support zone at 55,375-55,575 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 14 per cent vs 13 per cent before Wednesday's session

• Nifty put-call ratio (PCR) at 0.87 vs 0.80

• Nifty Bank PCR at 0.68 vs 0.69

• Volatility index India VIX down 3 per cent at 11.20

The market wizard expects a higher zone at 24,775-24,850 levels and a strong sell zone at 24,900-25,000 levels for the headline index.

For the banking index, he expects a higher zone at 56,225-56,325 levels and a profit-booking zone at 56,425-56,575 levels. 

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

For existing long positions: 

• Nifty intraday stop loss at 24,575 and closing stop loss at 24,675

• Nifty Bank intraday stop loss at 55,800 and closing stop loss at 56,000

For existing short positions:

• Nifty intraday and closing stop loss at 24,900

• Nifty Bank intraday and closing stop loss at 56,600

For new positions in Nifty50:

For new positions in Nifty Bank:

Stocks in F&O ban

• Already in ban: RBL Bank

• Out of ban: None

• New in ban: None