Anil Singhvi’s Strategy May 18: Day Support Zone on Nifty is 8,925-9,050; Sell M&M Finance Futures with Stop Loss 170

Amid neutral global markets, futures & options (F&O), sentiment, positive domestic institutional investors (DIIs), and negative foreign institutional investors (FIIs) cues, the short-term trend of the Indian stock markets will be Neutral on Monday, May 18, 2020. 

Domestic equity benchmarks on Friday, May 15, 2020, ended the choppy session almost flat amid an absence of Asian share market cues. Banks stocks extended losses while metals stocks bucked the trend. Global shares were upbeat as data showed China's industrial output bouncing back in April. Sensex at Bombay Stock Exchange closed 25.16 points or 0.08% down at 31,097.73. Similarly, the Nifty 50 at the National Stock Exchange fell 5.90 points or 0.06% to settle at 9,136.85. Similarly, Bank Nifty fell 234.55 points or 1.23% to 18,833.95.

Zee Business's Managing Editor Anil Singhvi's Market Strategy for May 18:

Day Support Zone on Nifty is 8,925-9,050 and Higher Range is 9,250-9,350.

Day Support Range on Bank Nifty is 18,250-18,500 and Higher Range is 19,100-19,500.

The small day range for trading on Nifty is 9,050-9,200, while the medium and bigger ranges are 9,000-9,250 and 8,925-9,300 respectively. 

The small day range for trading on Bank Nifty is 18,700-19,075, while the medium and bigger ranges are 18,500-19.250 and 18,250-19,450 respectively. 

For Existing Long Positions:

Nifty intraday and closing stop loss 9,050.

Bank Nifty intraday and closing stop loss 18,650.

For Existing Short Positions:

Nifty intraday and closing stop loss 9,250.

Bank Nifty intraday and closing stop loss 19,100.

For New Positions:

Sell Nifty in 9,200-9,300 range with a stop loss of 9,400 and target 9,150, 9,100, 9,050.

Buy Nifty in 9,000-9,050 range with a stop loss of 8,900 and target 9,100, 9,150, 9,200.

Sell Bank Nifty in 19,250-19,400 range with a stop loss of 19,500 and target 19,100, 19,000, 18,850.

Buy Bank Nifty in 18,300-18,500 range with a stop loss of 18,200 and target 18,650, 18,800, 18,900.

Put-Call Ratio (PCR) is 1.14 and the Volatility Index (VIX) 38.01

F&O Update:

Out of Ban: Vodafone Idea

No Stock in Ban

Result Analysis:

Cipla Futures: Operationally weak results. Strong support zone 540-550.

L&T Finance Futures: Very Weak Results. Support near 55, below that 52 levels possible.

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Stock of the Day
Sell M&M Finance Futures: Stop loss 170 and target 162, 158.