Anil Singhvi Market Strategy Today: Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 index at 24,535-24,650 levels and a strong buy zone at 24,365-24,500 levels on Thursday, August 28. For the Nifty Bank, the market wizard expects support to emerge at 54,175-54,375 levels followed by a stronger support zone at 53,900-54,100 levels.
How market guru Anil Singhvi sums up trade setup:
Global: Positive
FII: Negative
Add Zee Business as a Preferred Source
DII: Positive
F&O: Neutral
Sentiment: Negative
Trend: Neutral
FII long positions at 14 per cent vs 13 per cent before Tuesday’s session
Nifty put-call ratio (PCR) at 0.72 vs 0.87
Nifty Bank PCR at 0.54 vs 0.56
Volatility index India VIX down 4 per cent at 12.19
The market wizard expects a higher zone at 24,800-24,900 levels and a strong sell zone at 24,925-25,015 levels for the headline index.
For the banking index, he expects a higher zone at 54,575-54,700 levels and a strong sell zone at 54,900-55,150 levels.
ANIL SINGHVI MARKET STRATEGY | How to trade Nifty Bank and Nifty50?
For existing long positions:
Nifty intraday and closing stop loss at 24,600
Nifty Bank intraday and closing stop loss at 54,350
For existing short positions:
Nifty intraday stop loss at 24,850 and closing stop loss at 24,925
Nifty Bank intraday stop loss at 54,700 and closing stop loss at 55,100
For new positions in Nifty50:
Aggressive traders can sell Nifty in the 24,800-24,900 range with a strict stop loss at 25,025 for targets of 24,725, 24,685, 24,635, 24,600, 24,535, 24,500
Aggressive traders can buy Nifty in the 24,475-24,650 range with a strict stop loss at 24,325 for targets of 24,700, 24,800, 24,850, 24,875, 24,900, 24,925
For new positions in Nifty Bank:
Aggressive traders can sell Nifty Bank in the 54,700-54,900 range with a strict stop loss at 55,150 for targets of 54,450, 54,400, 54,275, 54,175, 54,100 and 53,900
Aggressive traders can buy Nifty Bank in the 53,900-54,175 range with a strict stop loss at 53,800 for targets of 54,375, 54,450, 54,575, 54,700, 54,900 and 55,000
Stocks in F&O ban
