Anil Singhvi’s Strategy May 11: Day support zone on Nifty is 14,775-14,825 & Bank Nifty is 32,575-32,775

Amid negative global markets, foreign neutral 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 Tuesday, May 11, 2021. 

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Domestic equity indices extended gains to a fourth consecutive trading session on Monday, May 10, 2021. The S&P BSE Sensex rallied 295.94 points or 0.60 per cent to end at 49,502.41. The Nifty 50 index rose 119.20 points or 0.80 per cent to close higher at 14,942.35. The Bank Nifty index rose 237.90 points or 0.72 per cent to 33,142.40. 

In the broader market, outperforming Sensex, the BSE Mid-cap rose 0.97 per cent and the Small-cap index jumped nearly 0.94 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for May 11:

Day support zone on Nifty is 14,775-14,825, below that 14,650-14,725 is a strong Buy zone. 

Day higher zone on Nifty is 14,875-14,950, above that 15,000-15,050 is a strong Profit-booking zone. 

Day support zone on Bank Nifty is 32,575-32,775, below that 32,200-32,275 is a strong Buy zone.

Day higher zone on Bank Nifty is 33,150-33,275, above that 33,450-33,725 is a strong Profit-booking zone. 

The Small Day Range on Nifty is 14,825-14,900, while the medium and bigger day ranges are 14,725-14,950 and 14,650-15,000, respectively. 

The Small Day Range on Bank Nifty is 32,725-33,150, while the medium and bigger day ranges are 32,500-33,275 and 32,275-33,450.

FIIs Index long still at lower levels at 51% Vs 53%

PCR unchanged at 1.33

India VIX down by 3% at 20.23

For Existing Long Positions:

Nifty intraday and closing stop loss are 14700

Bank Nifty intraday and closing stop loss are 32675

For Existing Short Positions:

Nifty intraday and closing stop loss are 15,000.

Bank Nifty intraday and closing stop loss are 33300 

For New Positions: 

Sell Nifty with a stop loss of 15,000 and target 14,825, 14,775, 14,725, 14,675, 14,635.

Buy Nifty in 14,635-14,725 range with a stop loss of 14,600 and target 14,775, 14,825, 14,890, 14,940. 

For New Positions:

Sell Bank Nifty with a stop loss of 33,300 and target 32,900, 32,800, 32,600, 32,500, 32,300, 32,200.

Buy Bank Nifty in 32,200-32,300 range with a stop loss of 32,000 and target 32,575, 32,675, 32,775, 32,900, 32,975.

F&O Ban Update:

New In Ban: PNB

2 Already In Ban: Sun TV, Nalco

2 Out Of Ban: Tata Chemical, BHEL