Anil Singhvi Market Strategy May 14: Important levels to track in Nifty50, Nifty Bank today
Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi shares his strategy for today's session on Dalal Street. Check out his take on key support and resistance levels for the Nifty and the Nifty Bank, and how he views the market.
Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support for the headline Nifty50 index to emerge at 22,000-22,050 levels and a strong buy zone at 21,825-21,950 levels on Tuesday, May 14.
For the Nifty Bank, he expects support to come in at 47,325-47,500 levels followed by a strong buy zone at 46,975-47,075 levels.
Here's how Anil Singhvi sums up the market setup:
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Global: Neutral
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FII: Negative
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DII: Positive
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F&O: Neutral
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Sentiment: Neutral
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Trend: Positive
He expects a higher zone for the headline index at 22,175-22,250 levels and a strong sell zone at 22,300-22,400 levels.
For the banking index, he expects a higher zone at 47,900-48,075 levels and a strong sell zone at 48,200-48,325 levels.
ANIL SINGHVI MARKET STRATEGY
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FII index longs unchanged at 34 per cent as the previous day
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Nifty put-call ratio (PCR) at 0.97 vs 0.91
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Nifty Bank PCR at 0.90 vs 0.69
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Volatility index India VIX up 11.5 per cent at 20.60
For existing long positions:
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Nifty intraday and closing stop loss at 21,900
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Nifty Bank intraday and closing stop loss at 47,300
For existing short positions:
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Nifty intraday stop loss at 22,150 and closing stop loss at 22,300
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Nifty Bank intraday and closing stop loss at 48,000
For new positions in Nifty:
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Aggressive traders can buy Nifty in the 21,950-22,050 range with a strict stop loss at 21,800 for targets of 22,100, 22,125, 22,200, 22,225 and 22,300
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Aggressive traders can sell Nifty in the 22,175-22,300 range with a strict stop loss at 22,400 for targets of 22,125, 22,100, 22,050, 22,000, 21,950 and 21,925
For new positions in Nifty Bank:
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Aggressive traders can buy Nifty Bank in the 47,325-47,500 range with a strict stop loss at 47,200 for targets of 47,625, 47,750, 47,850, 47,975 and 48,075
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Aggressive traders can sell Nifty Bank in the 48,000-48,150 range with a strict stop loss at 48,350 for targets of 47,850, 47,750, 47,625, 47,500, 47,425 and 47,325
F&O ban update
- New in ban: Piramal Enterprises
- Already in ban: Hindustan Copper, Canara Bank, Zee Entertainment Enterprises, PNB, SAIL, Balrampur Chini, GMR Airports, Vodafone Idea
- Out of ban: None
Results reviews
DLF
- Strong results
- Outlook strong but Q4 pre-sales lower than expected
- Book profit on a gap-up opening
- DLF futures have support at Rs 815 and Rs 825, and higher levels at Rs 855 and Rs 865
JSPL
- Results below expectations on all parameters
- Stock generally reverses from lower levels
- JSPL futures have support at Rs 905 and Rs 920, and a higher level at Rs 950
UPL
- Post-result conference call not great
- Book profit at higher levels
Zomato
- Strong upgrades by brokerages
- Buy on dips
Stocks of the Day
Buy Varun Beverages shares with a stop loss at Rs 1,460 for targets of Rs 1,495 and Rs 1,505
- Strong results came during market hours on Monday
- Jefferies has raised its target to Rs 1,690 from Rs 1,480
Buy HAL futures with a stop loss at Rs 3,900 for targets of Rs 3,980, Rs 4,020 and Rs 4,075
- UBS has raised its target to Rs 5,200 from Rs 3,600
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