Anil Singhvi strategy June 6: 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 6 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 Nifty emerging at 18,450-18,500 levels on June 6.

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support for the Nifty index coming in at 18,535-18,575 levels and a strong buy zone in the 18,450-18,500 band on Tuesday, June 6.

For the Nifty Bank, he sees support at 43,825-43,950 levels and a strong buy zone at 43,525-43,700 levels.

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

Global: Negative

TRENDING NOW
FII: Neutral
DII: Positive
F&O: Neutral
Sentiment: Positive
Trend: Positive

For the 50-scrip headline index, he expects a higher zone at 18,625-18,660 levels and a profit-booking zone at 18,690-18,750 levels. For the banking index, he sees a higher zone at 44,200-44,325 levels and a strong sell zone at 44,425-44,500 levels.

FII index longs at 50 per cent vs 48 per cent the previous day
Nifty put-call ratio (PCR) at 1.00 vs 0.95
Nifty Bank PCR at 0.87 vs 0.80
India VIX unchanged at 11.14

ANIL SINGHVI MARKET STRATEGY

The market wizard suggests buying at key support levels and profit-taking at higher levels. Investors need not worry as long as the Nifty and the Nifty Bank stay above 18,275 and 43,650 levels on a closing basis respectively, he says.

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 43,650

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 18,475-18,535 range with a stop loss at 18,400 for targets of 18,575, 18,600, 18,635, 18,660 and 18,690
Aggressive traders can sell Nifty in the 18,640-18,725 range with a strict stop loss at 18,800 for targets of 18,600, 18,575, 18,535, 18,500 and 18,475

For new positions in Nifty Bank:

Buy Nifty Bank in the 43,700-43,825 range with a stop loss at 43,650 for targets of 43,900, 43,950, 44,000, 44,075, 44,125, 44,200 and 44,250
Aggressive traders can buy Nifty Bank with a strict stop loss at 43,800 for targets of 44,200, 44,250, 44,300, 44,425 and 44,475
Sell Nifty Bank in the 44,300-44,500 range with a stop loss at 44,550 for targets of 44,200, 44,125, 44,075, 44,025, 43,950, 43,900 and 43,825

F&O ban update: