Anil Singhvi’s Strategy May 13: Support zone on Nifty is 15725-15800, Bank Nifty is 33150-33300

Amid neutral global markets and future & options (F&O), negative foreign institutional investors (FIIs), positive domestic institutional investors (DIIs) and cautious sentiments , the short-term trend of the Indian stock markets will be negative on Friday, May 13, 2022. 

Indian stock markets fell more than two per cent on Friday amid negative global cues and sell off in the domestic market. The Sensex tanked over 1100 points to below 53,000-mark, while the Nifty50 slipped below 16,000-mark to 15800 level. Besides, Nifty mid cap and small cap too closed with around 2% cuts. Among sectoral indices, Nifty Bank declined more than 3% and PSU Bank tanked more than 5%.  

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

Nifty support zone is 15725-15800, Below that 15550-15675 strong Buy zone 
Nifty higher zone is 15950-16050, Above that 16150-16250 strong Sell zone 
Bank Nifty support zone is 33150-33300, Below that 32875-33000 strong Support zone 
Bank Nifty higher zone is 33900-34150, Above that 34275-34475 strong Sell zone 
 
Nifty support levels are15725, 15675, 15625, 15550 
 
Nifty higher levels are 15850, 15900, 15950, 16000, 16050, 16150, 16175, 16200 
 

#EditorsTake

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— Zee Business (@ZeeBusiness) May 13, 2022

Bank Nifty support levels are 33400, 33300, 33150, 33000, 32875, 32450, 32375, 32150 
 
Bank Nifty higher levels are 33900, 34000, 34150, 34275, 34350, 34475, 34575, 34700 
 
FIIs Index Long near oversold at 17% Vs 21%, short covering expected from lower levels 

PCR near oversold levels at 0.75 Vs 0.69 
India VIX up by 6% at 24.27 

For Existing Long Positions: 
 
Nifty Intraday and Closing SL 15650 
BankNifty Intraday SL 33250 and Closing SL 32850 
 
For Existing Short Positions: 
 
Nifty Intraday SL 16050 n Closing SL 16200 
BankNifty Intraday n Closing SL 34300 
 
For New Positions: 
 
Buy Nifty with stoploss of 15650  

Targets are: 15900, 15950, 16000, 16050, 16150, 16175 
 
Sell Nifty in 16150-16300 range with stoploss of 16400  

Targets are: 16050, 16000, 15950, 15900, 15850, 15800, 15750 
 
For New Positions: 
 
Buy BankNifty with stoploss of 33250  

Targets are: 33900, 34000, 34150, 34275, 34350, 34475, 34575 
 
Sell BankNifty in the 34150-34350 range: 
SL 33600; Targets are 34000, 33900, 33525, 33400, 33300, 33150 
 
F&O Ban Update: 
New In Ban: PNB 
Already In Ban: IB Housing Finance 
Out Of Ban: Nil