Anil Singhvi’s Strategy May 13: Buy Vedanta Futures with Stop Loss 87; Day Support Zone on Nifty is 9,250-9,375

Editor's Take

On Package

Package bigger than expectation.

Rs 12.20 lakh crore additional relief will come. 

On Vedanta Delisting: Indicative Price very low, delisting offer may not be successful. 

Buy Vedanta Futures: Stop loss 87 and target 98, 102, 105. Retail Investors should not tender in delisting offer. 

13 May Strategy:

Amid negative global markets, foreign institutional investors (FIIs), neutral domestic institutional investors (DIIs), futures & options (F&O) and sentiment cues, the short-term trend of the Indian stock markets will be Neutral on Wednesday, May 13, 2020.

The market ended a highly volatile session with modest losses on Tuesday, May 12, 2020. The barometer S&P BSE Sensex fell 190.10 points or 0.60% at 31,371.12. The Nifty 50 index was down 42.65 points or 0.46% at 9,196.55. Similarly, Bank Nifty declined 87.65 points or 0.46% to 18,862.85. Gains in auto stocks eclipsed weakness in banks shares. A steep correction in index heavyweight Reliance Industries (RIL) put pressure on bourses.

Zee Business's Managing Editor Anil Singhvi's Market Strategy for May 13:

Big volatility expected, closing above 9,550 and 19,750 on Nifty and Bank Nifty is most important. 

Day Support Zone on Nifty is 9,250-9,375 and the higher range is 9,450-9,600. 

Day Support Range on Bank Nifty is 18,500-18,850 and the higher range is 19,650-19,950.

Nifty Support levels are 9,250, 9,300, 9,375, and higher levels are 9,450, 9,500, 9,550, 9,600.

Bank Nifty Support levels are 18,950, 19,250, 19,350, and higher levels are 19,500, 19,600, 19,750, 19,900.

For Existing Long Positions:

Nifty intraday and closing stop loss 9,250.

Bank Nifty intraday and closing stop loss 18,850.

For Existing Short Positions:

Nifty intraday stop loss 9,500 and closing stop loss 9,300.

Bank Nifty intraday and closing stop loss 19,350.

For New Positions:

Buy Nifty with a stop loss of 9,250 and target 9,400, 9,450, 9,500, 9,550.

Sell Nifty in 9,500-9,600 range with a stop loss of 9,650 and target 9,400, 9,375, 9,300.

Buy Bank Nifty with a stop loss of 18,850 and target 19,350, 19,500, 19,650, 19,750, 19,900.

Sell Bank Nifty in 19,700-19,900 range with a stop loss of 20,100 and target 19,500, 19,350, 19,250.

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Put-Call Ratio (PCR) is 1.28 and the Volatility Index (VIX) 38.21.

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