Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 index at 24,600-24,700 levels and a stronger support zone at 24,450-24,550 levels on Thursday, June 19. For the Nifty Bank, the market wizard expects support at 55,375-55,525 levels and a strong buy zone at 54,950-55,150 levels.
How market guru Anil Singhvi sums up trade setup:
-
Global: Negative
-
FII: Neutral
-
DII: Neutral
-
F&O: Neutral
-
Sentiment: Cautious
-
Trend: Positive
-
FII long positions at 20 per cent vs 21 per cent before Wednesday’s session
-
Nifty put-call ratio (PCR) at 0.8 vs 0.95
-
Nifty Bank PCR at 0.79 vs 0.74
-
Volatility index India VIX down 1 per cent at 14.27
The market wizard expects a higher zone at 24,850-24,950 levels and a strong sell zone at 24,975-25,100 levels for the headline index.
For the banking index, he expects a higher zone at 55,950-56,150 levels and a strong sell zone at 56,400-56,600 levels.
ANIL SINGHVI MARKET STRATEGY | How to trade Nifty Bank and Nifty50?
For existing long positions:
For existing short positions:
For new positions in Nifty50:
-
Best range to Buy Nifty is 24550-24700 SL 24450 Tgt 24750, 24800, 24825, 24850, 24900, 24950
-
Aggressive Traders Sell Nifty in 24850-24975 range Strict SL 25100 Tgt 24800, 24750, 24700, 24625, 24575, 24525
For new positions in Nifty Bank:
-
Aggressive Traders Buy Bank Nifty in 55375-55525 range Strict SL 55300 Tgt 55650, 55725, 55825, 55925, 56000, 56075
-
Aggressive Traders Sell Bank Nifty in 55950-56150 range Strict SL 56250 Tgt 55825, 55725, 55650, 55525, 55375, 55150
Stocks in F&O ban
-
New In Ban: Biocon
-
Already in Ban: AB Fashion, Birlasoft Tech, CDSL, Chambal Fertilisers, HUDCO, Manappuram, RBL Bank, Titagarh
-
Out of Ban: IREDA
