Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support for the headline Nifty50 index at 24,600-24,700 levels and a strong buy zone at 24,475-24,575 levels on Monday, June 2. For the Nifty Bank, the market wizard expects support at 55,350-55,500 levels and a strong buy zone at 55,050-55,250 levels.
How market guru Anil Singhvi sums up trade setup:
-
Global: Neutral
-
FII: Negative
-
DII: Positive
-
F&O: Neutral
-
Sentiment: Neutral
-
Trend: Positive
-
FII long positions at 19 per cent vs 20 per cent before Friday’s session
-
Nifty put-call ratio (PCR) at 0.77 vs 0.86
-
Nifty Bank PCR at 1.05 vs 1.02
-
Volatility index India VIX down 2 per cent at 16.07
The market wizard sees a higher zone at 24,825-24,900 levels and a strong sell zone at 24,950-25,075 levels for the headline index.
For the banking index, he sees a higher zone at 55,875-56,075 levels and a “blue-sky zone” above the 56,100 mark.
ANIL SINGHVI MARKET STRATEGY | How to trade Nifty Bank and Nifty50?
For existing long positions:
-
Nifty intraday and closing stop loss at 24,650
-
Nifty Bank intraday and closing stop loss at 55,350
For existing short positions:
-
Nifty intraday and closing stop loss at 24,925
-
Nifty Bank intraday stop loss at 56,100 and closing stop loss at 55,825
For new positions in Nifty50:
-
Aggressive traders can buy Nifty in the 24,575-24,675 range with a strict stop loss at 24,450 for targets of 24,725, 24,750, 24,825, 24,850, 24,900 and 24,950
-
Aggressive traders can sell Nifty in the 24,850-25,000 range with a strict stop loss at 25,125 for targets of 24,750, 24,700, 24,675, 24,600, 24,575 and 24,500
For new positions in Nifty Bank:
-
The best range to buy Nifty Bank is 55,100-55,350 with a stop loss at 54,950 for targets of 55,425, 55,500, 55,575, 55,650, 55,700 and 55,750
-
Aggressive traders can buy Nifty Bank with a strict stop loss at 55,350 for targets of 55,825, 55,875, 55,925 and 56,075; above 56,100, Nifty Bank in the blue-sky zone
-
Aggressive traders can sell Nifty Bank in the 56,000-56,100 range with a strict stop loss at 56,150 for targets of 55,925, 55,825, 55,750, 55,650, 55,575 and 55,500
Stocks in F&O ban
RESULT REVIEW | Apollo Hospitals, Inox Wind, Titagarh Rail Systems
Apollo Hospitals
Buy Apollo Hospitals Futures:
SL 6850 Tgt 7000, 7075, 7150
Strong results in tough environment
Titagarh
Sell Titagarh Futures:
SL 890 Tgt 870, 860, 850
Weak results on all parameters
Inox Wind
Futures:
Strong results on all parameters
Will be difficult for company to maintain this performance
Don’t Buy on big gap-up opening
Profit booking expected at higher levels
Weak results from Voda Idea, stable performance from Nykka
STOCKS OF THE DAY | AstraZeneca, Genus Power
Buy Astrazeneca:
SL 7800 Tgt 8075, 8250, 8400
Strong results on all parameters
Buy Genus Power:
SL 390 Tgt 400, 405, 415
Strong results on all parameters
