Anil Singhvi Market Strategy (May 29): 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 Thursday, May 29. For the Nifty Bank, the market wizard expects support at 55,025-55,225 levels and a strong buy zone at 54,800-55,000 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 29 per cent vs 31 per cent before Wednesday’s session

• Nifty put-call ratio (PCR) at 0.76 vs 0.82

• Nifty Bank PCR at 0.85 vs 0.86

• Volatility index India VIX down 3 per cent at 18.01

The market wizard sees a higher zone at 24,850-24,950 levels and a profit-booking zone at 25,000-25,075 levels for the headline index.

For the banking index, he sees a higher zone at 55,575-55,700 levels and a profit-booking zone at 55,825-56,000 levels. ​

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

For existing long positions: 

• Nifty intraday and closing stop loss at 24,650

• Nifty Bank intraday and closing stop loss at 55,000

For existing short positions:

• Nifty intraday stop loss at 24,900 and closing stop loss at 25,075

• Nifty Bank intraday and closing stop loss at 55,700

For new positions in Nifty50:

• Aggressive traders can buy Nifty with a strict stop loss at 24,650 for targets of 24,825, 24,850, 24,900, 24,950, 25,000 and 25,065

• Aggressive traders can sell Nifty in the 24,900-25,000 range with a strict stop loss at 25,125 for targets of 24,850, 24,800, 24,765, 24,735, 24,700 and 24,665

For new positions in Nifty Bank:

• The best range to buy Nifty Bank is 55,050-55,250 with a stop loss at 54,950 for targets of 55,375, 55,425, 55,500, 55,575, 55,650 and 55,825

• Aggressive traders can suy Nifty Bank with a strict stop loss at 55,200 for targets of 55,500, 55,575, 55,650, 55,825, 55,875 and 55,925

• Aggressive traders can sell Nifty Bank in the 55,675-55,875 range with a strict stop loss at 56,000 for targets of 55,575, 55,500, 55,425, 55,350, 55,250 and 55,175

Stocks in F&O ban

• Out of ban: RBL Bank
• Already in ban: None
• New in ban: None