Anil Singhvi strategy May 19: Important levels to track in Nifty 50, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 benchmark at 18,050-18,100 levels on Friday, May 19, and a strong buy zone at 17,925-18,000 levels. For the Nifty Bank, he sees support coming in at 43,475-43,675 levels and a strong buy zone at 43,200-43,375 levels.

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

• Global: Positive

• FII: Positive

• DII: Negative

• F&O: Neutral

• Sentiment: Neutral

• Trend: Positive

For the 50-scrip headline index, he expects a higher zone at 18,175-18,225 levels and a profit-booking zone at 18,265-18,315 levels.​ For the banking index, he sees a higher zone at 43,900-44,000 levels, and a profit-booking zone at 44,075-44,150 levels.  

• FII index longs at 49 per cent on Friday vs 47 per cent the previous day
• Nifty put-call ratio (PCR) at 0.93 vs 0.83
• Nifty Bank PCR at 1.01 vs 0.83
• Fear index India VIX down 2.5 per cent at 12.80

ANIL SINGHVI MARKET STRATEGY

The market wizard expects strong support at 17,900-18,000 levels for the Nifty and at 43,000-43,200 levels for the Nifty Bank. One can expect midcap and smallcap stocks to strengthen, which will create opportunities to buy, he says. 

For existing long positions:

• Nifty intraday and closing stop loss at 17,975
• Nifty Bank intraday and closing stop loss at 43,450

For existing short positions:

• Nifty intraday and closing stop loss at 18,325
• Nifty Bank intraday and closing stop loss at 44,150

For new positions in Nifty:

• Buy Nifty with a stop loss at 17,975 for targets of 18,175, 18,215, 18,265, 18,285, 18,315 and 18,340

• Sell Nifty in the 18,265-18,315 range with a stop loss at 18,400 for targets of 18,225, 18,200, 18,175, 18,125 and 18,100

For new positions in Nifty Bank:

• Buy Nifty Bank in the 43,300-43,475 range with a stop loss at 43,100 for targets of 43,575, 43,675, 43,750, 43,800 and 43,900

• Aggressive traders can buy Nifty Bank with a strict stop loss at 43,450 for targets of 43,800, 43,900, 44,000, 44,075 and 44,150

• Aggressive traders sell Nifty Bank in the 44,000-44,150 range with a strict stop loss at 44,200 for targets of 43,900, 43,825, 43,750, 43,700, 43,575 and 43,500

F&O ban

• New in ban: L&T Finance
• Already in ban: AB Fashion, LIC Housing Finance, Balrampur Chini, Manappuram Finance, Delta Corp, GNFC and PNB
• Out of ban: None

RESULTS REVIEW

United Spirits:

• Results better than estimates
• Revenue, margin better than estimates
• Outlook for FY24 little better

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