Anil Singhvi's Market Strategy: Nifty Bank strong buy zone at 52,600-52,800—Key levels to track on D-Street

Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 index to emerge at 23,425-23,575 levels and a strong buy area at 23,265-23,375 levels on Monday, May 18. The market wizard sees support for the Nifty Bank at 53,200-53,450 levels and a strong buy area at 52,600-52,800 levels.

How market wizard sums up trade setup

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

• FII long positions at 12.43 per cent vs 11.86 per cent before Friday's trading session

• Nifty put-call ratio (PCR) at 1.01 vs 1.17

• Nifty Bank PCR at 0.77 vs 0.82

For the headline index, the market wizard expects a higher zone at 23,650-23,750 levels and a strong sell area at 23,775-23,850 levels.

For the banking index, he expects a higher zone at 54,100-54,400 levels and a strong sell area at 54,550-54,775 levels.

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

For existing long positions:

• Nifty intraday stop loss at 23,575 and closing stop loss at 23,375
• Nifty Bank intraday and closing stop loss at 53,450

For existing short positions:

• Nifty intraday and closing stop loss at 23,850
• Nifty Bank intraday and closing stop loss at 54,450

For new positions in Nifty50:

• Sell Nifty with a stop loss at 23,850 for targets of 23,600, 23,550, 23,465, 23,425, 23,375, 23,350 and 23,250

• The best range to buy Nifty is 23,265-23,425 with a stop loss at 23,100 for targets of 23,465, 23,550, 23,600, 23,650, 23,675 and 23,750

For new positions in Nifty Bank:

• Aggressive traders can sell Nifty Bank with a strict stop loss at 54,100 for targets of 53,450, 53,200, 53,025, 52,800, 52,700 and 52,600

• The best range to buy Nifty Bank is 52,600-52,800 with a stop loss at 52,500 for targets of 53,175, 53,450, 53,550, 53,700, 54,100, 54,325 and 54,400

Futures & options (F&O) ban

• Already in ban: Kaynes Tech, SAIL
• New in ban: None
• Out of ban: None

Buzzing stocks

Delhivery

• The company posted better-than-expected results on all parameters
• Its operational performance improved with an even better outlook
• EPS upgrades to the tune of 4-6 per cent are expected
• The stock has support at Rs 458
• A higher level of Rs 492 is expected in the stock

Gland Pharma

• Buy Gland Pharma shares in the spot market for targets of Rs 1,890, Rs 1,915 and Rs 1,940 with a stop loss at Rs 1,850
• It staged strong growth in its regular base business
• The stock could be the "hero of the day"

Monarch Capital

• Buy Monarch Capital shares in the cash segment for targets of Rs 303, Rs 307 and Rs 311 with a stop loss at Rs 295
• The company staged an extraordinarily strong performance
• Revenue rose 64 per cent and PAT surged 84 per cent
• It gave an aggressive growth FY27 guidance across business segments

Godrej Industries

• The company posted exceptionally strong results
• The stock has rallied 25 per cent in a month

Neogen Chemical

• Chemical companies have been posting strong results this season
• The stock has rallied 15 per cent in a month and 29 per cent in three months

Hindustan Copper

• Results are extraordinarily strong on all parameters

PB Fintech

• Buy PB Fintech futures for targets of Rs 1,705, Rs 1,720 and Rs 1,735 with a stop loss at Rs 1,655
• The company held its first impressive analysts' day
• The management is confident of growth and execution

ICICI Prudential Life Insurance

• Sell ICICI Pru futures for targets of Rs 515, Rs 505 and Rs 495 with a stop loss at Rs 545
• Prudential PLC is buying 75 per cent of Bharti Life
• Prudential will reduce stake in company to 10 per cent
• This is a huge negative for the company
• It could be the day’s accident

HAL

• The management gave no major update in concall