Anil Singhvi Market Strategy (June 3): How to trade Nifty 50, Nifty Bank today, key levels to track
: Zee Business Managing Editor Anil Singhvi expects support for the headline Nifty50 index at 24,600-24,675 levels and a stronger support zone at 24,450-24,575 levels on Tuesday, June 3. For the Nifty Bank, the market wizard expects support at 55,575-55,750 levels and a strong buy zone at 55,350-55,500 levels.
The market wizard sees a higher zone at 24,825-24,900 levels and a strong sell zone at 24,950-25,075 levels for the headline index.
For the banking index, he sees a higher zone at 55,875-56,075 levels and a "blue-sky zone" above the 56,100 mark.
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For existing short positions:
For new positions in Nifty50:
For new positions in Nifty Bank:
Stocks in F&O ban
Buy United Spirits futures for targets of Rs 1,570, Rs 1,585 and Rs 1,610 with a stop loss at Rs 1,535
Buy Glenmark Pharma futures for targets of Rs 1,520, Rs 1,535 and Rs 1,550 with a stop loss at Rs 1,485
- The ISB 2001 licensing deal could be a big positive trigger for the company
Buy Swiggy shares for targets of Rs 337, Rs 340 and Rs 343 with a stop loss at Rs 328
- Improved food delivery execution is a positive
- Morgan Stanley has initiated coverage with an 'overweight' rating and a target of Rs 405 per share