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Anil Singhvi Market Strategy: 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. 

Global: Neutral

FII: Negative

DII: Positive

F&O: Neutral

Sentiment: Neutral

Trend: Positive

FII long positions unchanged at 19 per cent as before Monday's session

Nifty put-call ratio (PCR) at 0.82 vs 0.77

Nifty Bank PCR at 1.04 vs 1.05

Volatility index India VIX up 7 per cent at 17.16

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. ​

FIIs or DIIs, which institutional investor category can influence Dalal Street now?

When and in which direction will the market break out of its current range?

A fresh Nifty Bank all-time high on Tuesday?

Are there opportunities left in midcap and smallcap stocks now?

For existing long positions: 

Nifty intraday stop loss at 24,500 and closing stop loss at 24,600

Nifty Bank intraday and closing stop loss at 55,400

For existing short positions:

Nifty intraday and closing stop loss at 24,925

Nifty Bank intraday stop loss at 56,100 and closing stop loss at 56,000

For new positions in Nifty50:

The best range to buy Nifty is 24,500-24,600 with a stop loss at 24,450 for targets of 24,675, 24,700, 24,750, 24,800, 24,850 and 24,900

Aggressive traders can sell Nifty in the 24,825-24,950 range with a strict stop loss at 25,125 for targets of 24,750, 24,725, 24,675, 24,600, 24,525 and 24,475

For new positions in Nifty Bank:

The best range to buy Nifty Bank is at 55,500-55,700 with a stop loss at 55,350 for targets of 55,825, 55,900, 55,975 and 56,075

Above the 56,100 mark, Nifty Bank is set to be in a "blue-sky zone"

One may hold on to their long positions with a trailing stop loss

Sell Nifty Bank only if it breaks 55,300 with a strict stop loss at 55,500

Stocks in F&O ban

Already in ban: Manappuram Finance

New in ban: None

Out of ban: None

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 

Buy Swiggy shares for targets of Rs 337, Rs 340 and Rs 343 with a stop loss at Rs 328 

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