Market Strategy Today (August 4): How to trade Nifty 50, Nifty Bank today? Key levels to track

Anil Singhvi Market Strategy Today: Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 index at 24,450-24,525 levels and a stronger support zone at 24,275-24,400 levels on Monday, August 4. For the Nifty Bank, the market wizard expects support at 55,375-55,550 levels and a stronger support zone at 55,000-55,150 levels.

How market guru Anil Singhvi sums up trade setup:

Global: Negative
FII: Negative
DII: Positive
F&O: Neutral
Sentiment: Negative
Trend: Neutral
FII long positions at 9 per cent vs 10 per cent before Friday’s session
Nifty put-call ratio (PCR) at 0.74 vs 1.04
Nifty Bank PCR at 0.92 vs 0.97
Volatility index India VIX up 4 per cent at 11.97

The market wizard expects a higher zone at 24,635-24,680 levels and a strong sell zone at 24,765-24,850 levels for the headline index.

For the banking index, he expects a higher zone at 55,850-56,000 levels and a profit-booking zone at 56,075-56,225 levels.

EDITOR’S TAKE | How much impact from the US selloff?

US markets fell due to weak economic data
Had the fall been driven by tariff fears, global markets would have been hit harder
These economic numbers raise hopes of a rate cut in the US
As a result, US bond yields fell to 4.22 per cent, a three-month low
Crude oil falling to $69 is also positive for us
A pause in the dollar index’s strength is good for India
Overall, signals from the US are positive for us
That’s why GIFT Nifty is in the green

Which levels, if broken, could spell trouble?

If Nifty closes below 24,400 and Bank Nifty below 55,000, deeper correction feared
In a recovery, Nifty may attempt to reach 24,765-24,850
Bank Nifty may recover to 56,000-56,200

How much more pain left in mid- and smallcaps?

Unless there are signs of stability and recovery in frontline stocks
Pressure will continue in smaller stocks

ANIL SINGHVI MARKET STRATEGY | How to trade Nifty Bank and Nifty50?

For existing long positions:

Nifty intraday and closing stop loss at 24,400
Nifty Bank intraday and closing stop loss at 55,450

For existing short positions:

Nifty intraday and closing stop loss at 24,800
Nifty Bank intraday and closing stop loss at 56,100

For new positions in Nifty50:

The best range to sell Nifty is 24,650-24,765 with a stop loss at 24,900 for targets of 24,635, 24,600, 24,565, 24,535, 24,500, 24,475 and 24,450
Aggressive traders can buy Nifty in the 24,450-24,500 range with a strict stop loss at 24,350 for targets of 24,565, 24,600, 24,635, 24,675, 24,765 and 24,800

For new positions in Nifty Bank:

The best range to sell Nifty Bank is 55,850-56,075 with a stop loss at 56,250 for targets of 55,625, 55,575, 55,475, 55,375, 55,150 and 55,050
Aggressive traders can buy Nifty Bank in the 55,150-55,375 range with a strict stop loss at 55,000 for targets of 55,475, 55,550, 55,625, 55,850, 55,950 and 56,000