Anil Singhvi strategy May 4: Important levels to track in Nifty 50, Nifty Bank

Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 benchmark at 17,975-18,035 levels and a strong buy zone at 17,850-17,925 levels on Thursday, May 4. For the Nifty Bank — whose 12 constituents include HDFC Bank, SBI and Axis Bank, he sees support emerging at 43,000-43,075 levels and a strong buy zone at 43,700-43,850 levels.

Here's how Anil Singhvi sums up the market setup on May 4:

• Global: Negative
• FII: Neutral
• DII: Negative
• F&O: Neutral
• Sentiment: Neutral
• Trend: Positive

For the 50-scrip headline index, he expects a higher zone at 18,125-18,175 levels and a profit booking zone at 18,200-18,250 levels.​ For the banking index, he sees a higher zone at 43,475-43,625 levels and a strong sell zone at 43,700-43,850 levels.

• FII index longs at 46 per cent on Wednesday vs 51 per cent Tuesday
• Nifty put-call ratio (PCR) at 1.02 vs 1.16
• Nifty Bank PCR at 1.09 vs 1
• Fear index India VIX unchanged at 11.9

ANIL SINGHVI MARKET STRATEGY 

For Existing Long Positions:

Nifty Intraday n Closing SL 17975
Bank Nifty Intraday n Closing SL 42950

For Existing Short Positions:

Nifty Intraday n Closing SL 18200
Bank Nifty Intraday n Closing SL 43500

For New Positions:

Buy Nifty in 17925-18035 range:
SL 17850 Tgt 18075, 18100, 18150, 18175, 18200

Aggressive Traders Sell Nifty:
Strict SL 18200 Tgt 18050, 18000, 17975, 17925, 17900

For New Positions:

Buy Bank Nifty in 42825-43000 range:
SL 42600 Tgt 43075, 43225, 43275, 43350, 43475

Sell Bank Nifty:
SL 43500 Tgt 43275, 43225, 43075, 43000, 42875, 42825, 42750
 

F&O Ban Update:

• New In Ban: Manappuram Finance
• Already In Ban: Nil
• Out Of Ban: Nil

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