Anil Singhvis Strategy May 16: Support zone on Nifty is 15675-15750, Bank Nifty is 32875-33000
Amid neural global markets and future & options (F&O), negative foreign institutional investors (FIIs), positive domestic institutional investors (DIIs), and neutral sentiments, the short-term trend of the Indian stock markets will be negative on Monday, May 16, 2022.
Amid neutral global markets and future & options (F&O), negative foreign institutional investors (FIIs), positive domestic institutional investors (DIIs), and neutral sentiments, the short-term trend of the Indian stock markets will be negative on Monday, May 16, 2022.
The Indian stock markets on Friday closed negative as Sensex slipped by over 136 points and Nifty50 settled below the 15800-level amid negative global cues. On the contrary, Nifty mid-cap and small-cap closed positive by around 1 per cent higher. Among sectoral indices, Nifty Metal declined more than 2 per cent, while Nifty Bank and Financials slipped over 1 per cent on Friday.
Zee Business Managing Editor Anil Singhvi’s Market Strategy for May 16
Nifty support zone 15675-15750, Below that 15550-15625 strong Buy zone
Nifty higher zone 15975-16075, Above that 16150-16200 Profit booking zone
Bank Nifty support zone 32875-33000, Below that 32150-32375 strong Buy zone
Bank Nifty higher zone 33400-33525, Above that 33900-34150 Profit booking zone
Nifty support levels 15725, 15675, 15625, 15550
Nifty higher levels 15850, 15900, 15950, 16000, 16075, 16150, 16175, 16200
Bank Nifty support levels 33000, 32875, 32450, 32375, 32150
Bank Nifty higher levels 33300, 33400, 33525, 33900, 34000, 34150, 34275, 34350
FIIs Index Long at 24% Vs 17%
PCR near oversold levels at 0.73 Vs 0.75, short covering expected
India VIX down by 3% at 23.49
For Existing Long Positions:
Nifty Intraday n Closing SL 15650
BankNifty Intraday n Closing SL 32850
For Existing Short Positions:
Nifty Intraday SL 16100 n Closing SL 16200
BankNifty Intraday SL 34050 n Closing SL 34300
For New Positions:
Buy Nifty: SL 15650 Tgt 15850, 15900, 15950, 16000, 16075, 16150
Sell Nifty in 15975-16075 range: SL 16200 Tgt 15950, 15900, 15850, 15800, 15750
For New Positions:
Buy BankNifty: SL 32850 Tgt 33300, 33400, 33525, 33900, 34000, 34150, 34275, 34350
Sell BankNifty in 33900-34150 range: SL 34300 Tgt 33550, 33400, 33300, 33125, 33025, 32875
Aggressive Traders Sell BankNifty in 33400-33525 range: Strict SL 33600 Tgt 33300, 33125, 33025, 32875, 32450, 32375, 32150
F&O Ban Update:
New In Ban: GNFC
Already In Ban: PNB, IB Housing Finance
Out Of Ban: Nil
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