Anil Singhvi's Market Strategy May 31: Private Banks and Metals set to be positive

Stock markets closed slightly lower on Wednesday but amid positive global, Domestic Institutional Investors (DIIs) sentiments as well as neutral Futures and Options (F&O) and foreign institutional investors (FII) cues, it seems that the short term trend of the market will remain positive today. 

Zee Business's Managing Editor Anil Singhvi's Market Strategy for May 31:
10,600 and 26,300 are going to be a deciding points in Nifty and BankNifty respectively. 

In case of Nifty, 10,575-10,700 is going to be a small trade range and if it goes above the aforesaid mark than there will be an additional move of 50 points. 

Next two support levels for the traders in Nifty stand at 10,500 and 10,575 and the profit booking range in the segment is going to be between 10,675-10,700. 

Similarly, in case of BankNifty, 26,200 and 26,500 are going to be the trading range for traders and if it crosses these two marks then the traders can see an additional move of 150 points. 

Anil Singhvi suggests that the traders should reduce their long/buying positions on Nifty and BankNifty if it closes below the mark of 10,600 and 26,250 respectively. 

Buying Strategy for Nifty Index 
Buy Nifty with a stop loss at 10,575 and target of 10,650, 10,675 and 10,700. 

Buying Strategy for BankNifty 
Buy Nifty with a stop loss at 26,200 and target of 26,500, 26,575 and 26,650. 

The put-call ratio (PCR) for today stands at 1.39 and volatility index (VIX) is 13.41. 

Private banks and Metals are going to be positive and traders can plan to do positional trade in the sector. 

Future and Option (F&O) traders 
Out of Ban: Jet Airways is out of ban and the traders can invest in it now. 
Enter F&O ban list: Reliance Communication, GMR Infrastructure and IDFC bank have entered the list of banned companies. 
Other companies in banned list: DHFL, IDBI, Balrampur Chini, Just Dial, JP Associates.