Anil Singhvi strategy June 2: Important levels to track in Nifty, Nifty Bank today
Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi shares his strategy for the June 2 session. Check out his take on key support and resistance levels for the Nifty and the Nifty Bank, and how he views the market.
Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support for the Nifty50 benchmark emerging at 18,425-18,475 levels and a strong buy zone at 18,340-18,400 levels on Friday, June 2. For the Nifty Bank, he sees support at 43,525-43,675 levels and a strong buy zone at 43,200-43,375 levels.
Here's how Anil Singhvi sums up the market setup:
- Global: Neutral
- FII: Neutral
- DII: Negative
- F&O: Neutral
- Sentiment: Positive
- Trend: Positive
For the 50-scrip headline index, he expects a higher zone at 18,525-18,575 levels and a strong sell zone at 18,600-18,660 levels. For the banking index, he sees a higher zone at 43,975-44,175 levels and a strong sell zone at 44,300-44,475 levels.
- FII index longs at 46 per cent vs 54 per cent the previous day
- Nifty put-call ratio (PCR) at 1.00 vs 0.99
- Nifty Bank PCR at 0.76 vs 0.82
- Fear index India VIX down three per cent at 11.60
ANIL SINGHVI MARKET STRATEGY
For existing long positions:
- Nifty intraday and closing stop loss at 18,450
- Nifty Bank intraday and closing stop loss at 43,650
For existing short positions:
- Nifty intraday and closing stop loss at 18,675
- Nifty Bank intraday and closing stop loss at 44,025
For new positions in Nifty:
- Buy Nifty with a stop loss at 18,450 for targets of 18,525, 18,575, 18,600, 18,635 and 18,660
- Sell Nifty in the 18,625-18,700 range with a stop loss at 18,750 for targets of 18,600, 18,575, 18,535, 18,500 and 18,475
For new positions in Nifty Bank:
- Buy Nifty Bank with a stop loss at 43,650 for targets of 43,975, 44,025, 44,075, 44,125, 44,200, 44,300 and 44,425
- Sell Nifty Bank in the 44,300-44,475 range with a stop loss at 44,550 for targets of 44,200, 44,125, 44,025, 43,950, 43,900 and 43,825
No stock in F&O ban
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