Anil Singhvi Market Strategy (May 6): 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 24,300-24,400 levels and a strong buy zone at 24,125-24,250 levels on Tuesday, May 6. For the Nifty Bank, Singhvi expects support at 54,575-54,725 levels and a stronger support zone at 54,175-54,400 levels.

Read on to learn about the market wizard’s views for the day. 

How market guru Anil Singhvi sums up trade setup this morning: 

• Global: Positive

• FII: Positive

• DII: Positive

• F&O: Neutral

• Sentiment: Positive

• Trend: Positive

• FII long positions at 49 per cent vs 47 per cent before Monday’s session

• Nifty put-call ratio (PCR) at 0.97 vs 0.91

• Nifty Bank PCR at 0.93 vs 0.94

• Volatility index India VIX up 0.5 per cent at 18.34

The market wizard sees a higher zone at 24,525-24,600 levels and a profit-booking zone at 24,650-24,750 levels for the headline index.

For the banking index, he sees a higher zone at 55,250-55,375 levels and a profit-booking zone at 55,475-55,675 levels. 

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

For existing long positions: 

• Nifty intraday and closing stop loss at 24,300

• Nifty Bank intraday and closing stop loss at 54,700

For existing short positions:

• Nifty intraday stop loss at 24,600 and closing stop loss at 24,525
• Nifty Bank intraday and closing stop loss at 55,350

For new positions in Nifty50:

• The best range to buy Nifty is 24,300-24,400 with a stop loss at 24,225 for targets of 24,450, 24,525, 24,575, 24,600, 24,650 and 24,700

• Aggressive traders can sell Nifty in the 24,600-24,750 range with a strict stop loss at 24,850 for targets of 24,525, 24,475, 24,400, 24,365, 24,335 and 24,300

For new positions in Nifty Bank:

• Aggressive traders can buy Nifty Bank in the 54,575-54,725 range with a strict stop loss at 54,450 for targets of 54,975, 55,075, 55,175, 55,250, 55,300 and 55,375

• Aggressive traders can sell Nifty Bank in the 55,350-55,550 range with a strict stop loss at 55,700 for targets of 55,250, 55,175, 55,100, 55,000, 54,775 and 54,675

Stocks in F&O ban

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

Result Reviews

Coforge 

• Decent results
• FY26 guidance very strong
• 3-4 per cent EPS upgrade expected
• Buy Coforge shares in the cash market for targets of Rs 7,590, Rs 7,690, Rs 7,780 and Rs 7,840 with a stop loss at Rs 7,400 

Indian Hotels 

• Results in line with expectations
• Some profit-booking expected
• Indian Hotels futures have support at Rs 782; a higher level is expected at Rs 820

CAMS 

• Results little below expectations
• EBIT below estimates
• The stock may recover from lower levels
• These days, market infra stocks fall on results and then recover very sharply
• CAMS futures have support at Rs 3,730 and Rs 3,680
• A higher level is expected at Rs 3,890

Stocks of the Day 

Buy CCL Products for targets of Rs 600, Rs 610 and Rs 615 with a stop loss at Rs 585 

• Overall strong results
• Improved operational performance

Buy DCM Shriram shares for targets of Rs 1,028, Rs 1,040 and Rs 1,050 with a stop loss at Rs 1,000 

• Overall strong results
• Strong operational performance

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