Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 index at 24,625-24,725 levels and a stronger support zone at 24,450-24,550 levels on Friday, June 20. For the Nifty Bank, the market wizard expects support at 55,150-55,375 levels and a stronger support zone at 54,825-54,950 levels.
How market guru Anil Singhvi sums up trade setup:
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Global: Negative
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FII: Positive
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DII: Neutral
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F&O: Neutral
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Sentiment: Cautious
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Trend: Positive
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FII long positions at 22 per cent vs 20 per cent before Thursday’s session
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Nifty put-call ratio (PCR) at 1.03 vs 0.8
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Nifty Bank PCR at 0.72 vs 0.79
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Volatility index India VIX flat at 14.25
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 55,725-55,825 levels and a strong sell zone at 55,950-56,150 levels.
ANIL SINGHVI MARKET STRATEGY | How to trade Nifty Bank and Nifty50?
For existing long positions:
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Nifty intraday and closing stop loss at 24,700
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Nifty Bank intraday and closing stop loss at 55,350
For existing short positions:
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Nifty intraday and closing stop loss at 25,000
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Nifty Bank intraday and closing stop loss at 56,150
For new positions in Nifty50:
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Aggressive traders can buy Nifty in the 24,550-24,700 range with a strict stop loss at 24,450 for targets of 24,750, 24,800, 24,825, 24,850, 24,900 and 24,950
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Aggressive traders can sell Nifty in the 24,850-24,975 range with a strict stop loss at 25,100 for targets of 24,800, 24,750, 24,700, 24,625, 24,575 and 24,525
For new positions in Nifty Bank:
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Aggressive traders can buy Nifty Bank in the 55,150-55,375 range with a strict stop loss at 54,950 for targets of 55,475, 55,575, 55,650, 55,725, 55,825 and 55,950
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Aggressive traders can sell Nifty Bank in the 55,825-55,975 range with a with a strict stop loss at 56,150 for targets of 55,725, 55,650, 55,575, 55,500, 55,375, 55,150 and 55,050
Stocks in F&O ban
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New in ban: Nil
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Already in ban: AB Fashion, Biocon, CDSL, HUDCO, Manappuram, RBL Bank, Titagarh
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Out of ban: Birlasoft, Chambal Fertilisers
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Aegis Vopak Results Review
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- One may buy if there is a big fall in the stock
