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Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support for the headline Nifty50 index at 24,175-24,250 levels and a strong buy zone at 24,000-24,125 levels on Friday, May 2, as market participants return to trade after a mid-week holiday owing to Maharashtra Day. For the Nifty Bank, Singhvi expects support at 54,575-54,725 levels and a strong buy zone at 54,175-54,400 levels.

Read on to learn about the market wizard's views for the day. 

Global: Positive

FII: Positive

DII: Positive

F&O: Neutral

Sentiment: Positive

Trend: Positive

FII long positions at 47 per cent vs 44 per cent before Wednesday's session

Nifty put-call ratio (PCR) at 1.16 vs 0.94

Nifty Bank PCR at 0.94 vs 0.95

Volatility index India VIX up 5.0 per cent at 18.22

The market wizard sees a higher zone at 24,400-24,500 levels and a strong sell zone at 24,550-24,700 levels for the headline index.

For the banking index, he sees a higher zone at 55,250-55,375 and 55,475-55,650 levels, and a strong sell zone at 55,950-56,075 levels. 

The market guru points out that only fresh India-Pakistan tensions can emerge as a risk on Dalal Street going forward.

For existing long positions: 

For existing short positions:

For new positions in Nifty50:

Buy Nifty with a stop loss at 24,150 for targets of 24,390, 24,435, 24,465, 24,500, 24,550 and 24,600

Aggressive traders can sell Nifty in the 24,450-24,550 range with a strict stop loss at 24,700 for targets of 24,400, 24,365, 24,335, 24,300, 24,250 and 24,200

For new positions in Nifty Bank:

Aggressive traders can buy Nifty Bank in the 54,500-54,725 range with a strict stop loss at 54,300 for targets of 55,075, 55,175, 55,250, 55,300, 55,375 and 55,475

Aggressive traders can sell Nifty Bank in the 55,450-55,650 range with a strict stop loss at 55,750 for targets of 55,375, 55,300, 55,250, 55,175, 55,100 and 54,725

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Result Reviews

Buy Adani Ports Futures:

stop loss at 1200 for targets of 1234, 1245, 1256

Excellent results on all parameters

Strong guidance for FY26

Buy Adani Ent Futures:

stop loss at 2277 for targets of 2320, 2338, 2349

Mixed results but guidance very strong

Buy Bandhan Bank Futures:

stop loss at 162 for targets of 170, 174, 178

Mixed results just like RBL Bank

Stock at very cheap valuations

Don’t short, Buy at support levels

Sell Indus Tower Futures:

stop loss at 413 for targets of 401, 398, 393

Extremely weak results

Company skipped dividend which creates uncertainty

Sell Eternal Futures:

stop loss at 236 for targets of 230, 227, 223

Results below estimates

Weak guidance

cautious view on quick commerce business

Sell Sona BLW Futures:

stop loss at 488 for targets of 472, 467, 464

Extremely weak results

Weak operational performance

Federal Bank Futures:

Results completely inline

Asset quality stable

Support Level 192, Higher Level 207

JSPL Futures:

Weak results but outlook stable

Support Level 883, Higher Level 928

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