Anil Singhvi’s Strategy May 21: 9,000 & 18,000 are deciding levels on Nifty & Bank Nifty; Buy Jubilant Foods Futures with Stop Loss 1,480

Anil Singhvi’s Strategy May 21: Amid neutral global markets, futures & options (F&O), sentiment, negative foreign institutional investors (FIIs), and positive domestic institutional investors (DIIs) cues, the short-term trend of the Indian stock markets will be neutral on Thursday, May 21, 2020.

Domestic equity benchmarks on Wednesday, May 20, 2020, extended gains for the second day this week amid mixed global cues. Sensex and Nifty, both, surged more than two per cent. Sensex at Bombay Stock Exchange climbed 622 points, or 2.06 per cent to end at 30,819. Similarly, the Nifty at National Stock Exchange settled 187 points, 2.11 per cent up at 9,067. Bank Nifty added 354 points, or 2.02 per cent, to end at 17,840.20.

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Zee Business's Managing Editor Anil Singhvi's Market Strategy for May 21:

9,000 and 18,000 are the deciding levels on Nifty and Bank Nifty respectively. 

Day Support Range on Nifty is 8,825-8,875 and Higher Range is 9,150-9,200.

Day Support Range on Bank Nifty is 17,400-17,600 and Higher Range is 18,000-18,300.

Small Day Range for trading on Nifty is 9,000-9,125, while the medium and bigger ranges are 8,875-9,175 and 8,800-9,200 respectively. 

Small Day Range for trading on Bank Nifty is 17,600-18,000, while the medium and bigger ranges are 17,500-18,150 and 17,400-18,250 respectively.

Market bullish if Nifty and Bank Nifty closes above 9,200 & 19,000.

Market negative again if Nifty and Bank Nifty closes below 8,900 & 17,500.

Put-Call Ratio (PCR) 1.18 and India Volatility Index (VIX) down 9% at 35.81. 

For Existing Long Positions:

Nifty intraday stop loss 9,000 and closing stop loss 8,825.

Bank Nifty intraday and closing stop loss 17,400.

For Existing Short Positions:

Nifty intraday and closing stop loss 9,200.

Bank Nifty intraday and closing stop loss 18,000.

For New Positions:

Buy Nifty in 8,850-8,900 range with a stop loss of 8,800 and target 9,050, 9,125, 9,150, 9,200.

Sell Nifty in 9,150-9,200 range with a stop loss of 9,250 and target 9,100, 9,050, 9,000. 

Buy Bank Nifty in 17,400-17,600 range with a stop loss of 17,350 and target 17,800, 18,000, 18,150, 18,250.

Sell Bank Nifty in 18,000-18,300 range with a stop loss of 18,500 and target 17,850, 17,600, 17,500.

In F&O Ban: Vodafone Idea

Result Analysis:

Bajaj Auto Futures: Higher Range 2,600, 2,630, 2,665 and Support Zone 2,480-2,500. Keep a stop loss 2,545 for the long position. Strong operational performance.

Buy Jubilant Foods Futures: Higher range 1,555, 1,575, 1,590 and Support Zone 1,440-1,460. Keep a stop loss 1,480 for the long position. Better operating margins and strong guidance.