Amid neutral global markets, futures & options (F&O), sentiment, negative foreign neutral institutional investors (FIIs) and domestic institutional investors (DIIs) cues, the short-term trend of the Indian stock markets will be neutral on Friday, May 14, 2021.  

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Domestic equity markets closed with steep losses on Wednesday, May 12, 2021, falling for a second trading session. The S&P BSE Sensex dropped 471.01 points or 0.96 per cent to 48,690.80. The Nifty 50 index lost 154.25 points or 1.04 per cent to close at 14,696.50. The Bank Nifty index lost 419.90 points or 1.28 per cent to close at 32,452.30.  

The broader markets also fell in line with the market. The S&P BSE MidCap lost 0.90 per cent and S&P BSE SmallCap index fell 0.62 per cent.  

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for May 14: 

Day support zone on Nifty is 14,600-14,650, below that 14,425-14,500 is a strong buy zone.  

Day higher zone on Nifty is 14,725-14,800, above that 14,850-14,900 is strong profit-sell zone.  

 

Day support zone on Bank Nifty is 32,200-32,275, below that 31,725-31,800 is strong support zone.  

Day higher zone Bank Nifty is 32,650-32,775, above that 32,975-33,150 is strong Profit-booking zone.  

 

The small day range for trading on Nifty is 14,635-14,765, while the medium and bigger day ranges are 14,600-14,825 and 14,500-14,850, respectively. 

The small day range for trading on Bank Nifty is 32,200-32,650, while the medium and bigger day ranges are 32,000-32,775 and 31,775-32,975, respectively.  

 

FIIs Index long at oversold levels at 40% Vs 42% 

PCR at 1.29 Vs 1.27 

India VIX up by 1% at 20.08 

  

For Existing Long Positions: 

Nifty intraday and closing stop loss are 14,600. 

Bank Nifty intraday and closing stop loss are 32,200. 

 

For Existing Short Positions: 

Nifty intraday and closing stop loss are 14,850. 

Bank Nifty intraday and closing stop loss are 33,000.  

 

For New Positions: 

Buy Nifty in 14,600-14,650 range with a stop loss of 14,500 and target 14,700, 14,725, 14,775, 14,825, 14,850.  

Sell Nifty in 14825-14850 range with a stop loss of 14,900 and target 14,775, 14,725, 14,700, 14,650, 14,615.  

Aggresive Traders Sell Nifty with STRICT stop loss of 14,850 and target 14,650, 14,615, 14,550, 14,500. 

 

For New Positions: 

Buy Bank Nifty in 31,725-31,800 range with a stop loss of 31,650 and target 31,975, 32,150, 32,200, 32,275, 32,350, 32,450.  

Aggressive traders Buy Bank Nifty in 32,150-32,275 range with a STRICT stop loss of 32,000 and target 32,350, 32,450, 32,550, 32,650, 32,775, 32,875, 32,975.  

Sell Bank Nifty in 32,725-32,875 range with a stop loss of 33,150 and target 32,650, 32,550, 32,450, 32,350, 32,275, 32,200, 32,075.  

Aggressive traders sell Bank Nifty with STRICT stop loss of 33,000 and target 32,275, 32,200, 32,075, 32,000, 31,900, 31,800. 

 

F&O Ban Update 

2 New In Ban: BHEL, Cadila Health  

3 Already in Ban: Sun TV, PNB, Canara Bank 

Out of Ban: NALCO 

Stock of the Day 

Buy Vedanta Futures: Stop loss 275 and target 291, 295, 299, 305. Positional target 320. Strong results and a better outlook.