Anil Singhvi Market Strategy (June 3): How to trade Nifty 50, Nifty Bank today, key levels to track & more

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support for the headline Nifty50 index at 24,600-24,675 levels and a stronger support zone at 24,450-24,575 levels on Tuesday, June 3. For the Nifty Bank, the market wizard expects support at 55,575-55,750 levels and a strong buy zone at 55,350-55,500 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 unchanged at 19 per cent as before Monday’s session

• Nifty put-call ratio (PCR) at 0.82 vs 0.77

• Nifty Bank PCR at 1.04 vs 1.05

• Volatility index India VIX up 7 per cent at 17.16

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. ​

Who Will Outshine: FIIs or DIIs?

• FIIs resumed selling in the first two days of the June series
• But domestic funds showed stronger buying on both days
• In the past 6 sessions, DIIs have outpaced FIIs in cash market buying
• FIIs bought Rs 14,073 Cr in the cash market over the last 10 sessions
• Meanwhile, domestic funds bought Rs 49,895 Cr
• So far, DII buying has clearly overshadowed FII selling

When and in Which Direction Will the Market Break the Range?

• Nifty has strong support around 24,500
• Selling pressure consistently emerges near 25,000
• A close below 24,500 would signal weakness
• A close above 25,100 would indicate bullish momentum
• As long as the market remains range-bound, there are trading opportunities on both sides

Will Bank Nifty Hit a New All-Time High Today?

• Bank Nifty remains very strong ahead of the June 6 policy
• It has been closing at lifetime highs for the past two days
• Bank Nifty could be the one to pull Nifty out of its range
• High possibility of a new all-time high above 56,100 today
• Don’t rush to short Bank Nifty
• Its base has now shifted to 54,800–55,000

Where Are the Opportunities Still Alive in Mid- and Small-Caps?

• FII selling pressure is largely limited to large-cap stocks
• Hence, the market is focusing more on mid- and small-caps
• Even in this range-bound market, mid- and small-caps remain remarkably strong
• Focus on sector- and stock-specific action for now
• Good buying opportunities in midcap PSU banks, PSU NBFCs, FMCG, and infra stocks

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

For existing long positions: 

For existing short positions:

For new positions in Nifty50:

• Best range to Buy Nifty is 24500-24600: SL 24450 Tgt 24675, 24700, 24750, 24800, 24850, 24900

• Aggressive Traders Sell Nifty in 24825-24950 range: Strict SL 25125 Tgt 24750, 24725, 24675, 24600, 24525, 24475

For new positions in Nifty Bank:

• Best range to Buy Bank Nifty is 55500-55700: SL 55350 Tgt 55825, 55900, 55975, 56075, Above 56100 Bank Nifty in Blue sky zone. Hold your Long positions and keep trailing Stoploss

• Sell Bank Nifty only if it breaks 55300 with Strict SL 55500

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