Anil Singhvi Market Strategy (May 21): 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 24,500-24,575 levels and a stronger support zone at 24,335-24,450 levels on Wednesday, May 21. For the Nifty Bank, the market wizard expects support at 54,450-54,600 and a stronger support zone at 54,175-54,375 levels. 

How market guru Anil Singhvi sums up trade setup: 

• Global: Neutral

• FII: Negative

• DII: Positive

• F&O: Neutral

• Sentiment: Cautious

• Trend: Positive

• FII long positions at 37 per cent vs 42 per cent before Tuesday’s session

• Nifty put-call ratio (PCR) at 0.69 vs 0.82

• Nifty Bank PCR at 0.77 vs 0.86

• Volatility index India VIX unchanged at 17.39 

The market wizard sees a higher zone at 24,750-24,850 levels and a strong sell zone at 24,900-25,000 levels for the headline index.

For the banking index, he sees a higher zone at 55,000-55,175 levels and a strong sell zone at 55,300-55,475 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:

• Aggressive Traders Buy Nifty in 24500-24575 range: Strict SL 24425 Tgt 24665, 24750, 24800, 24850, 24925, 24975

• Best range to Sell Nifty is 24850-24975: SL 25075 Tgt 24775, 24700, 24665, 24575, 24550, 24500

For new positions in Nifty Bank:

• Aggressive Traders Buy Bank Nifty in 54175-54375 range: Strict SL 54000 Tgt 54450, 54500, 54600, 54825, 54900, 55000

• Aggressive Traders Sell Bank Nifty in 55175-55375 range: Strict SL 55575 Tgt 55100, 55000, 54925, 54825, 54600, 54450

Stocks in F&O ban

• New in ban: RBL Bank
• Out of ban: Titagarh, Hindustan Copper
• Already in ban: Manppuram Finance

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