Anil Singhvi Market Strategy (May 23): 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 24,375-24,450 levels and a stronger support zone at 24,200-24,300 levels on Friday, May 23. For the Nifty Bank, the market wizard expects support at 54,450-54,600 levels 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 32 per cent vs 37 per cent before Thursday’s ession

• Nifty put-call ratio (PCR) at 0.79 vs 0.81

• Nifty Bank PCR at 0.78 vs 0.79

• Volatility index India VIX down 2 per cent at 17.25

   

The market wizard sees a higher zone at 24,665-24,765 levels and a strong sell zone at 24,800-24,925 levels for the headline index.

For the banking index, he sees a higher zone at 55,175-55,350 levels and a strong sell zone at 55,425-55,575 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 24375-24500 range: Strict SL 24275 Tgt 24600, 24665, 24735, 24765, 24800, 24850

• Aggressive Traders Sell Nifty in 24735-24850 range: Strict SL 24950 Tgt 24685, 24600, 24575, 24500, 24450, 24400

For new positions in Nifty Bank:

• Aggressive Traders Buy Bank Nifty in 54450-54600 range: Strict SL 54350 Tgt 54700, 54825, 54875, 54950, 55000, 55075, 55175

• Aggressive Traders Sell Bank Nifty in 55300-55500 range: Strict SL 55700 Tgt 55200, 55075, 55000, 54900, 54825, 54700, 54600

Stocks in F&O ban

• New in ban: Dixon Tech
• Already in ban: Titagarh, RBL Bank, Manappuram Finance
• Out of ban: None

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