Anil Singhvi strategy May 30: 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 18,500-18,575 levels on Tuesday, May 30. He sees a strong buy zone in the 50-scrip blue-chip index at 18,400-18,450 levels. For the Nifty Bank, he sees support at 44,025-44,150 levels and a strong buy zone at 43,850-43,950 levels.

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

• Global: Positive

• FII: Positive

• DII: Positive

• F&O: Neutral

• Sentiment: Positive

• Trend: Positive

  

Add Zee Business as a Preferred Source

For the 50-scrip headline index, he expects a higher zone at 18,640-18,690 levels and a profit-booking zone at 18,725-18,785 levels.​ For the banking index, he sees a higher zone at 44,400-44,500 levels, and expects any move sustaining above 44,500 to be followed by the next big target in the 44,900-45,000 range.

• FII index longs at 60 per cent vs 62 per cent the previous day

• Nifty put-call ratio (PCR) at 1.33 vs 1.37

• Nifty Bank PCR at 1.10 vs 1.18

• Fear index India VIX up three per cent at 12.30

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

• Nifty intraday stop loss at 18,475 and closing stop loss at 18,275

• Nifty Bank intraday stop loss at 43,900 and closing stop loss at 43,675

For existing short positions:

• Nifty intraday and closing stop loss at 18,725

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

For new positions in Nifty:

• Buy Nifty with a stop loss at 18,450 for targets of 18,640, 18,690, 18,725, 18,750, 18,785 and 18,810

• Sell Nifty in the 18,690-18,775 range with a stop loss at 18,900 for targets of 18,660, 18,625, 18,600, 18,575, 18,550 and 18,500

For new positions in Nifty Bank:

• Buy Nifty Bank in the 44,000-44,150 range with a stop loss at 43,900 for targets of 44,200, 44,300, 43,475 and 43,575

• Aggressive traders can sell Nifty Bank in the 44,450-44,500 range with a strict stop loss at 44,600 for targets of 44,325, 44,200, 44,150, 44,100 and 44,025

No stock in F&O ban

Stock of the Day

Buy Sobha with a stop loss at Rs 495 for targets of Rs 515, Rs 520 and Rs 525

• Strong results
• Highest Sales ever achieved

RESULTS REVIEW

IRCTC

• Better performance on all fronts

• Increased tourism aided good results

Strong results by two more government companies: NBCC and NHPC

Catch latest stock market updates here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.