Anil Singhvi Market Strategy (June 11): 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 Nifty50 index at 24,950-25,050 levels and a strong buy zone at 24,800-24,900 levels on Wednesday, June 11. For the Nifty Bank, the market wizard expects support at 56,000-56,150 levels and a strong buy zone at 55,750-55,925 levels. 

How market guru Anil Singhvi sums up trade setup: 

• Global: Positive

• FII: Neutral

• DII: Neutral

• F&O: Neutral

• Sentiment: Positive

• Trend: Positive

• FII long positions unchanged at 20 per cent as before Tuesday’s trade

• Nifty put-call ratio (PCR) at 0.97 vs 1.01

• Nifty Bank PCR at 0.98 vs 1.04

• Volatility index India VIX down 5 per cent at 14.01

The market wizard expects a higher zone at 25,150-25,235 levels and a profit-booking zone at 25,300-25,400 levels for the headline index.

For the banking index, he expects a higher zone at 56,850-57,000 levels and a “blue-sky zone” above the 57,050 mark.

How much support do FII-DII inflows offer?

• FIIs have made small but consistent buying for a third straight day on Dalal Street
• FII cash market net inflows at Rs 2,302 crore during this period  
• DII inflows at Rs 1,113 crore
• DIIs net purchasers for the sixteenth session in a row
• FIIs and DIIs slowly switching to a buying mode
• On Tuesday, block deals worth Rs 3,342 crore took place in Premier Energies and AU Small Finance Bank
• The market should see good support at lower levels

Why is Dalal Street slowing down on the upside?

• FIIs and DIIs are buying on Dalal Street but in limited quantities
• On Tuesday, FIIs net selling at Rs 525 crore across cash, stock and index futures
• FIIs are still only 20 per cent longs in index futures
• They don’t appear to be in the mood to cut their shorts rapidly
• Continuous block deals, OFS and IPO activity are obstructing the pace of the rally

Important Nifty50 and Nifty Bank levels to watch out for on June 11

• Nifty is stuck in a narrow range of 25,000-25,200
• It has closed above the 25,000 mark for several sessions
• For intraday traders, a closing level below 25,000 should be a slight signal of weakness
• Momentum may gather steam of the index closes above 25,200, with the next major target in the 25,600–25,800 range

Will midcap and smallcap stocks continue to shine?

• Midcap and smallcap stocks are expected to continue to gain momentum
• One should focus on sector rotation and stock selection
• Significant amounts of money to be made in smaller sectors
• Sectoral rotation expected in power, PSU, chemical, banking, NBFC, capital market, infra and auto ancillary pockets

US appeals court’s major decision   

• US President Donald Trump’s decision on tariffs to remain in force
• Earlier, the court ordered a halt on tariffs
• The next hearing is reportedly scheduled on July 31

Global market signals

• Progress in US-China trade deal talks
• Hopes are high that Trump will approve a deal
• S&P and Nasdaq stage strong moves for a third straight day, at over three-month highs
• Rally on Wall Street with easing tariff uncertainty   
• The US court ruling is in Trump’s favour for now
• But anything that empowers Trump on tariffs is negative for Wall Street
• Dow futures are slightly weak
• No major reaction because US-China trade talks are underway

Read more on the June 11 session on Dalal Street

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

For existing long positions: 

• Nifty intraday and closing stop loss at 24,950

• Nifty Bank intraday and closing stop loss at 56,450

For existing short positions:

• Nifty intraday and closing stop loss at 25,235

• Nifty Bank intraday stop loss at 57,050 and closing stop loss at 56,850

For new positions in Nifty50:

• The best range to buy Nifty is 24,900-25,050 for targets of 25,100, 25,150, 25,200, 25,235 and 25,300 with a stop loss at 24,800 

• Aggressive traders can sell Nifty in the 25,200-25,300 range for targets of 25,050, 25,000, 24,950, 24,900, 24,850 and 24,825 with a strict stop loss at 25,400 

For new positions in Nifty Bank:

• The best range to buy Nifty Bank is 56,000-56,150 with a stop loss at 55,800 for targets of 56,475, 56,575, 56,625, 56,700, 56,775 and 56,850

• Aggressive traders can sell Nifty Bank in the 56,800-57,000 range with a strict stop loss at 57,100 for targets of 56,700, 56,625, 56,575, 56,500, 56,150 and 56,025

Stocks in F&O ban

• New in ban: IREDA, RBL Bank

• Already in ban: Titagarh, Hindustan Copper, Chambal Fertilisers, AB Fashion

• Out of ban: None

Stocks of the Day: Vedanta, NALCO, JSW Energy, OIL India

Buy Vedanta futures for targets of Rs 467 and Rs 474 with a stop loss at Rs 455 

• Metal stocks are looking strong
• HZL may approve its first interim dividend of the financial year

Sell NALCO futures for targets of Rs 189, Rs 186 and Rs 181 with a stop loss at Rs 197 

• Aluminium and bauxite production in excess of demand in China is slightly negative

Buy JSW Energy futures for targets of Rs 540, Rs 547 and Rs 553 with a stop loss at Rs 525 

• Power demand has risen 9 per cent on a year-on-year basis
• The company is set to benefit from the start of a new plant 

Buy OIL India futures for targets of Rs 443, Rs 446 and Rs 450 with a stop loss at Rs 430 

• Crude oil rates are rising
• The stock is trading at a reasonable level