Anil Singhvi Market Strategy (May 2): Important levels to track in Nifty 50, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support for the headline Nifty50 index at 24,175-24,250 levels and a strong buy zone at 24,000-24,125 levels on Friday, May 2, as market participants return to trade after a mid-week holiday owing to Maharashtra Day. For the Nifty Bank, Singhvi expects support at 54,575-54,725 levels and a strong buy zone at 54,175-54,400 levels.

Read on to learn about the market wizard’s views for the day. 

How market guru Anil Singhvi sums up trade setup this morning: 

• Global: Positive

• FII: Positive

• DII: Positive

• F&O: Neutral

• Sentiment: Positive

• Trend: Positive

• FII long positions at 47 per cent vs 44 per cent before Wednesday’s session

• Nifty put-call ratio (PCR) at 1.16 vs 0.94

• Nifty Bank PCR at 0.94 vs 0.95

• Volatility index India VIX up 5.0 per cent at 18.22

The market wizard sees a higher zone at 24,400-24,500 levels and a strong sell zone at 24,550-24,700 levels for the headline index.

For the banking index, he sees a higher zone at 55,250-55,375 and 55,475-55,650 levels, and a strong sell zone at 55,950-56,075 levels. 

5 positive triggers for Dalal Street on May 2

• No fresh headlines on the Indo-Pak tensions front
• Strong inflows from FIIs and DIIs
• Record GST collections
• Eight back-to-back sessions of gains on Wall Street
• Good results from the Adani group

The market guru points out that only fresh India-Pakistan tensions can emerge as a risk on Dalal Street going forward.

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

For existing long positions: 

• Nifty Intraday SL 24150 n Closing SL 24050
• Bank Nifty Intraday n Closing SL 54700

For existing short positions:

• Nifty Intraday SL 24500 n Closing SL 24400
• Bank Nifty Intraday n Closing SL 55650

For new positions in Nifty50:

• Buy Nifty: SL 24150 Tgt 24390, 24435, 24465, 24500, 24550, 24600

• Aggressive Traders Sell Nifty in 24450-24550 range: Strict SL 24700 Tgt 24400, 24365, 24335, 24300, 24250, 24200

For new positions in Nifty Bank:

• Aggressive Traders Buy Bank Nifty in 54500-54725 range: Strict SL 54300 Tgt 55075, 55175, 55250, 55300, 55375, 55475

  Aggressive Traders Sell Bank Nifty in 55450-55650 range: Strict SL 55750 Tgt 55375, 55300, 55250, 55175, 55100, 54725

ALSO READ: RBI to purchase Rs 1.25 lakh-crore bonds in May

Stocks in F&O ban

• Already in ban: RBL Bank
• New in ban: None
• Out of ban: None

Result Reviews

Buy Adani Ports Futures:
SL 1200 Tgt 1234, 1245, 1256
Excellent results on all parameters
Strong guidance for FY26

Buy Adani Ent Futures:
SL 2277 Tgt 2320, 2338, 2349
Mixed results but guidance very strong

Buy Bandhan Bank Futures:
SL 162 Tgt 170, 174, 178
Mixed results just like RBL Bank
Stock at very cheap valuations
Don’t short, Buy at support levels

Sell Indus Tower Futures:
SL 413 Tgt 401, 398, 393
Extremely weak results
Company skipped dividend which creates uncertainty

Sell Eternal Futures:
SL 236 Tgt 230, 227, 223
Results below estimates
Weak guidance
cautious view on quick commerce business

Sell Sona BLW Futures:
SL 488 Tgt 472, 467, 464
Extremely weak results
Weak operational performance

Federal Bank Futures:
Results completely inline
Asset quality stable
Support Level 192, Higher Level 207

JSPL Futures:
Weak results but outlook stable
Support Level 883, Higher Level 928

Catch key stock market updates here. For all other news, visit Zeebiz.com.