Anil Singhvi strategy June 1: Important levels to track in Nifty, Nifty Bank today

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 Thursday, June 1. For the Nifty Bank, he sees support at 43,675-43,825 levels and a strong buy zone at 43,400-43,600 levels. 

The market wizard highlights "very strong" domestic GDP data as well as voting on the US debt deal.

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 18,575-18,625 levels and a profit-booking zone at 18,660-18,725 levels.​ For the banking index, he sees a higher zone at 44,200-44,325 levels and a profit-booking zone at 44,425-44,500 levels.   

• FII index longs at 54 per cent vs 61 per cent the previous day

• Nifty put-call ratio (PCR) at 0.99 vs 1.32

• Nifty Bank PCR at 0.82 vs 1.22

• India VIX unchanged at 11.97

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

• Nifty intraday and closing stop loss at 18,450

• Nifty Bank intraday stop loss at 43,800 and closing stop loss at 44,000

For existing short positions:

• Nifty intraday and closing stop loss at 18,675

• Nifty Bank intraday and closing stop loss at 44,550

For new positions in Nifty:

• Buy Nifty in the 18,340-18,450 range with a stop loss at 18,275 for targets of 18,475, 18,525, 18,575, 18,600, 18,635 and 18,660

• Sell Nifty in the 18,660-18,725 range with a stop loss at 18,800 for targets of 18,635, 18,600, 18,575, 18,535, 18,500 and 18,475

For new positions in Nifty Bank:

• Buy Nifty Bank in the 43,525-43,675 range with a stop loss at 43,375 for targets of 43,750, 43,800, 43,850, 43,900, 43,950, 44,000, 44,075 and 44,125

• Aggressive traders can sell Nifty Bank with a strict stop loss at 44,500 for targets of 44,025, 43,950, 43,900, 43,825, 43,750, 43,675, 43,600 and 43,525

No stock in F&O ban

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