Anil Singhvi strategy May 30: Important levels to track in Nifty, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi shares his strategy for the May 30 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 18,400-18,450 levels on May 30.

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

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

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

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