Anil Singhvi Market Strategy (June 2): 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 24,600-24,700 levels and a strong buy zone at 24,475-24,575 levels on Monday, June 2. For the Nifty Bank, the market wizard expects support at 55,350-55,500 levels and a strong buy zone at 55,050-55,250 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 at 19 per cent vs 20 per cent before Friday’s session

• Nifty put-call ratio (PCR) at 0.77 vs 0.86

• Nifty Bank PCR at 1.05 vs 1.02

• Volatility index India VIX down 2 per cent at 16.07

   

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. ​

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 24575-24675 range: Strict SL 24450 Tgt 24725, 24750, 24825, 24850, 24900, 24950

• Aggressive Traders Sell Nifty in 24850-25000 range: Strict SL 25125 Tgt 24750, 24700, 24675, 24600, 24575, 24500

For new positions in Nifty Bank:

• Best range to Buy Bank Nifty is 55100-55350: SL 54950 Tgt 55425, 55500, 55575, 55650, 55700, 55750

• Aggressive Traders Buy Bank Nifty: Strict SL 55350 Tgt 55825, 55875, 55925, 56075, Above 56100 Bank Nifty in Blue sky zone

• Aggressive Traders Sell Bank Nifty in 56000-56100 range: Strict SL 56150 Tgt 55925, 55825, 55750, 55650, 55575, 55500

Stocks in F&O ban

RESULT REVIEW | Apollo Hospitals, Inox Wind, Titagarh Rail Systems

Apollo Hospitals 

Buy Apollo Hospitals Futures:
SL 6850 Tgt 7000, 7075, 7150
Strong results in tough environment

Titagarh 

Sell Titagarh Futures:
SL 890 Tgt 870, 860, 850
Weak results on all parameters

Inox Wind 

Futures:
Strong results on all parameters
Will be difficult for company to maintain this performance
Don’t Buy on big gap-up opening
Profit booking expected at higher levels

Weak results from Voda Idea, stable performance from Nykka

STOCKS OF THE DAY | AstraZeneca, Genus Power

Buy Astrazeneca:
SL 7800 Tgt 8075, 8250, 8400
Strong results on all parameters

Buy Genus Power:

SL 390 Tgt 400, 405, 415

Strong results on all parameters