Anil Singhvi’s Strategy May 27: Nifty bullish if closes above 9200, bearish if closes below 8,900

Amid positive global markets, neutral domestic foreign institutional investors (FIIs), institutional investors (DIIs), futures & options (F&O), sentiment cues, the short-term trend of the Indian stock markets will be neutral on Wednesday, May 27, 2020.

The domestic stock markets ended with small losses on Tuesday, May 26, 2020. The barometer S&P BSE Sensex fell 63.29 points or 0.21% at 30,609.30. The Nifty 50 index fell 10.20 points or 0.11% at 9,029.05. However, the Bank Nifty gained 161.45 points or 0.93% to close at 17,440.35. 

Zee Business's Managing Editor Anil Singhvi's Market Strategy for May 27:

Day Support Range on Nifty is 8,875-8,975 and Higher Range is 9,150-9,200.

Day Support Range on Bank Nifty is 17,100-17,300 and Higher Range is 17,650-17,850.

Small Day Range for trading on Nifty is 9,000-9,100, while the medium and bigger ranges are 8,975-9,150 and 8,875-9,200 respectively. 

Small Day Range for trading on Bank Nifty is 17,300-17,650, while the medium and bigger ranges are 17,100-17,750 and 16.800-17,850 respectively. 

Nifty bullish if closes above 9200, bearish if closes below 8,900.

Bank Nifty neutral if closes above 18,000.

Put-Call Ratio (PCR) 1.15 and India Volatility Index (VIX) down 3% at 31.47.

For Existing Long Positions:

Nifty intraday and closing stop loss 8,950.

Bank Nifty intraday and closing stop loss 17,100.

For Existing Short Positions:

Nifty intraday and closing stop loss 9,200.

Bank Nifty intraday and closing stop loss 17,850.

For New Positions:

Buy Nifty with a stop loss of 8,950 and target 9,100, 9,150, 9,175, 9,200.

Sell Nifty in 9,150-9,200 range with a stop loss of 9,250 and target 9,100, 9,050, 9,025.

Buy Bank Nifty with a stop loss of 17,100 and target 17,650, 17,750, 17,850.

Sell Bank Nifty in 17,750-17,950 range with a stop loss of 18,000 and target 17,650, 17,575, 17,450, 17,300.

No Stock in F&O Ban

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Results Analysis

Max Financial Futures: Weak Operational Performance. Support Range is 400-410. Higher Range is 450-465.