Anil Singhvi of Zee Business has set out a cautiously constructive view on the Nifty 50, placing immediate support at 23,950-24,000 and a stronger accumulation band at 23,775-23,900. He said the index could move into a higher zone at 24,125-24,240, before meeting profit-taking pressure around 24,300-24,400, while keeping the broader tone positive despite mixed positioning signals.

For Nifty Bank, Singhvi identified support at 54,625-54,875 and a deeper buy zone at 54,150-54,450. He sees upside towards 55,275-55,400 and 55,750-55,900, with a strong sell region emerging at 56,150-56,450. The strategy leaves room for both momentum traders and contrarians, with clear stop-loss levels for existing and fresh positions.

His trade setup also reflects a divided market backdrop. According to the Zee Business note, global cues were positive, domestic institutions were supportive and the overall trend remained upward, but foreign investors were still negative. The report pointed to FII long positions at 11.49 per cent, down from 12.61 per cent previously, while the Nifty put-call ratio stood at 0.98 and the Bank Nifty PCR at 0.90, suggesting a market that is not overheated but still vulnerable to swings.

The broader pattern in Singhvi’s recent calls has been one of adapting to changing index levels rather than fixing on a single bias. In later strategy updates reported by stock market tracking sites, he continued to flag separate support, buy and profit-booking bands for both Nifty 50 and Nifty Bank, underscoring that his framework is built around price zones, not predictions. His stock-specific calls on names such as Kotak Mahindra Bank, Adani Enterprises, DMart and Mazagon Dock also showed that the day’s opportunities, in his view, were likely to be selective rather than broad-based.

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Source: Noah Wire Services