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Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support for the headline Nifty50 index at 24,525-24,625 levels and a stronger support zone at 24,400-24,500 levels on Friday, June 6, with the RBI Governor due to announce the outcome of the MPC's June policy review at 10 am. For the Nifty Bank, the market wizard expects support at 55,350-55,500 levels and a strong buy zone at 55,050-55,250 levels. 

Global: Neutral

FII: Negative

DII: Positive

F&O: Neutral

Sentiment: Positive

Trend: Positive

FII long positions at 16 per cent vs 17 per cent before Thursday's session

Nifty put-call ratio (PCR) at 0.98 vs 0.73

Nifty Bank PCR at 0.83 vs 0.82

Volatility index India VIX down 4 per cent at 15.08

The market wizard expects a higher zone at 24,800-24,900 levels and a strong sell zone at 24,950-25,075 levels for the headline index.

For the banking index, he expects a higher zone at 55,900-56,100 levels and a "blue-sky zone" above the 56,200 mark. 

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For existing long positions: 

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

Nifty Bank intraday and closing stop loss at 55,350

For existing short positions:

Nifty intraday and closing stop loss at 24,900

Nifty Bank intraday stop loss at 56,050 and closing stop loss at 55,925

For new positions in Nifty50:

The best range to buy Nifty is 24,525-24,625 for targets of 24,675, 24,750, 24,825, 24,850, 24,900 and 24,950 with a stop loss at 24,450 

Aggressive traders can sell Nifty in the 24,850-25,000 range with a strict stop loss at 25,150 for targets of 24,750, 24,700, 24,625, 24,550, 24,525 and 24,500

For new positions in Nifty Bank:

Aggressive traders can buy Nifty Bank in the 55,350-55,500 range with a strict stop loss at 55,200 for targets of 55,600, 55,675, 55,750, 55,800, 55,900, 55,975 and 56,100

Aggressive traders can sell Nifty Bank in the 55,900-56,100 range with a strict stop loss at 56,200 for targets of 55,825, 55,750, 55,675, 55,600, 55,450, 55,400 and 55,350

Stocks in F&O ban

New in ban: Chambal Fertilisers

Already in ban: AB Fashion, Manappuram Finance

Out of ban: None

Stock of the Day: RIL

Buy Reliance futures for targets of Rs 1,460, Rs 1,475 and Rs 1,485 with a stop loss at Rs 1,428 

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