Anil Singhvi Market Strategy (May 28): 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 24,600-24,700 levels and a strong buy zone at 24,475-24,575 levels on Wednesday, May 28. For the Nifty Bank, the market wizard expects support at 54,825-55,025 levels and a strong support zone at 54,575-54,700 55,000-55,200 levels. 

How market guru Anil Singhvi sums up trade setup: 

• Global: Positive

• FII: Negative

• DII: Neutral

• F&O: Neutral

• Sentiment: Neutral

• Trend: Positive

• FII long positions at 31 per cent vs 35 per cent before Tuesday’s session

• Nifty put-call ratio (PCR) at 0.82 vs 1.06

• Nifty Bank PCR at 0.86 vs 0.89

• Volatility index India VIX up 3 per cent at 18.53

The market wizard sees a higher zone at 24,900-25,000 levels and a profit-booking zone at 25,060-25,125 levels for the headline index.

For the banking index, he sees a higher zone at 55,500-55,650 levels and a profit-booking zone at 55,700-55,875 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:

• Best range to Sell Nifty is 24925-25025: stop loss at 25125 for targets of 24850, 24800, 24735, 24700, 24665, 24600

• Aggressive Traders Buy Nifty in 24550-24700 range: Strict stop loss at 24450 for targets of 24735, 24765, 24800, 24850, 24900, 24950

For new positions in Nifty Bank:

• Best range to Sell Nifty Bank is 55575-55825: stop loss at 56000 for targets of 55500, 55425, 55350, 55200, 55100, 55025

• Aggressive Traders Buy Nifty Bank in 54800-55000 range: Strict stop loss at 54575 for targets of 55175, 55300, 55375, 55475, 55575, 55650

Stocks in F&O ban

• Out of ban: Hindustan Copper, Manappuram Finance, Chambal Fertilisers, Titagarh
• Already in ban: RBL Bank
• New in ban: None

RESULTS REVIEWS | LIC, NMDC

LIC 

Buy LIC Futures:
SL 861 for targets of 880, 888, 895
Inline results
Strong V&B margins at 18.75%
Company optimistic of APE growth
Increase in minimum policy size is positive

NMDC 

NMDC Futures:
Numbers below expectation but guidance better
Buy on gap-down opening
Support Levels 71 & 70, Higher Levels 74.5 & 76

STOCK OF THE DAY | ITC

ITC Futures: Buy near block deal price
BAT to sell 2.3% stake in company today, floor price 400/Sh
Currently, BAT has 20.3% stake in company