Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 benchmark at 18,200-18,225 levels and a strong buy zone at 18,100-18,150 levels on Friday, May 12. For the Nifty Bank — whose 12 constituents include HDFC Bank, SBI, and Axis Bank, he sees support emerging at 43,075-43,200 levels and a strong base at 42,825-43,000 levels.

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Here's how Anil Singhvi sums up the market setup on May 12:

  • Global: Negative
  • FII: Positive
  • DII: Neutral
  • F&O: Neutral
  • Sentiment: Positive
  • Trend: Positive

For the Nifty50 index, Singhvi expects a higher zone at 18,300-18,350 levels and a strong sell zone at 18,375-18,450 levels.​ For the banking index, he sees a higher zone at 43,575-43,675 levels and a profit-booking zone at 43,725-43,850 levels.

  • FII index longs at 47 per cent on Thursday vs 49 per cent the previous day
  • Nifty put-call ratio (PCR) at 1.25 Vs 1.11
  • Nifty Bank PCR at 1.06 Vs 0.91
  • Fear index India VIX up by 1 per cent at 13.22

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

  • Nifty intraday and closing stop loss at 18,200
  • Nifty Bank intraday and closing stop loss at 43,000

For existing short positions:

  • Nifty intraday and closing stop loss at 18,400
  • Nifty Bank intraday and closing stop loss at 43,800

For new positions in Nifty:

  • Buy Nifty in the range of 18,150-18,225 with a strict stop loss at 18,100 for targets of 18,265, 18,300, 18,325, 18,350, 18,400.
  • Sell Nifty in the 18,350-18,400 range with a stop loss at 18,450 for targets of 18,300, 18,275, 18,250, 18,225, 18,200.

For new positions in Nifty Bank:

  • Aggressive traders buy Bank Nifty in the range of 43,125-43,275 with a strict stop loss of 43,000 for targets 43,350, 43,475, 43,525, 43,575, 43,675, 43,750.
  • Aggressive traders can sell Nifty Bank in the 43,575-43,750 range with a strict stop loss at 43,800 for targets of 43,525, 43,475, 43,375, 43,325, 43,275, 43,200, 43,125.

F&O ban

  • New In Ban: PNB
  • Out Of Ban: GNFC
  • Already In Ban: Canara Bank, BHEL, Manappuram Finance

Stock Of The Day:

  • Buy Sona BLW:
  • SL 540 Tgt 565, 575, 590
  • Weightage in MSCI now 0.29%, Expect buying of 1400 crore

Result Review:
Eicher Motors:

  • Strong operational performance on 18% volume growth
  • Strong 23% growth in operating profit due to lower cost
  • Strong outlook on demand, pricing, and margins

 
Siemens:

  • Strong performance
  • Strong revenue and profit growth, better than estimates
  • Strong order flow
  • Ensures future visibility
  • The stock already ran up ahead of the results

Deepak Nitrite:

  • Except for margins everything is bad
  • The global slowdown will have a negative impact on volume growth and profit
  • Very weak outlook for FY24

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