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.

Zee Business Managing Editor Anil Singhvi sees a buy zone for Nifty50 emerging at 18,340-18,400 levels on June 2.

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

TRENDING NOW
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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