Anil Singhvi’s Strategy May 17: Support zone on Nifty is 15740-15800, Bank Nifty is 33125-33300

Amid neutral global markets and future & options (F&O), neutral foreign institutional investors (FIIs), positive domestic institutional investors (DIIs), and neutral sentiments, the short-term trend of the Indian stock markets will be negative on Monday, May 17, 2022. 

The markets on Monday snapped a six-day falling streak to close in the green amid neutral global cues as both Sensex and Nifty50 slipped by nearly 0.4 per cent. Outperforming the benchmarks Nifty mid-cap and small-cap closed by around 1 per cent higher. Among sectoral indices, Nifty PSU Bank surged almost 3 per cent, followed by Realty up over 2.5 per cent and Auto up over 2 per cent. 

Zee Business Managing Editor Anil Singhvi’s Market Strategy for May 16 

Nifty support zone 15740-15800, Below that 15550-15675 strong Buy zone 

Nifty higher zone 15975-16075, Above that 16150-16200 Profit booking zone 

Bank Nifty support zone 33125-33300, Below that 32875-33000 strong Buy zone 

Bank Nifty higher zone 33800-34000, Above that 34150-34350 Profit booking zone 

Nifty support levels 15800, 15750, 15675, 15625, 15550 

Nifty higher levels 15900, 15975, 16000, 16075, 16150, 16175, 16200 

Bank Nifty support levels 33525, 33400, 33300, 33125, 33000, 32875 

Bank Nifty higher levels 33800, 33900, 34000, 34150, 34275, 34350 

FIIs Index Long at 29% Vs 24% 

PCR unchanged at 0.73, near oversold levels 

India VIX up by 4% at 24.53 

For Existing Long Positions: 

Nifty Intraday n Closing SL 15650 

BankNifty Intraday n Closing SL 32850 

For Existing Short Positions: 

Nifty Intraday SL 16100 n Closing SL 16200 

BankNifty Intraday SL 34050 n Closing SL 34300 

For New Positions: 

Buy Nifty: SL 15725 Tgt 15900, 15950, 15975, 16000, 16075, 16150, 16175, 16200 

Sell Nifty in 16075-16175 range: SL 16300 Tgt 16000, 15975, 15900, 15850, 15800, 15750 

For New Positions: 

Buy BankNifty in 33125-33300 range: SL 32950 Tgt 33400, 33525, 33600, 33800, 33900, 34000, 34150, 34275 

Sell BankNifty in 34000-34150 range: SL 34300 Tgt 33900, 33825, 33600, 33525, 33300, 33125, 33000 

F&O Ban Update: 

Already In Ban: GNFC, PNB, IB Housing Finance 

New In Ban: Nil 

Out Of Ban: Nil 

LIC Listing Preview: 

Expected to list below issue price of 949 in 920-935 range 

Short Term Investors keep stoploss of their cost 

Paradeep Phosphates IPO Preview: 

Apply For Long Term 

Positives: 

Good financial track record and profit-making company 

Strong growth prospects 

Reasonable valuations 

Negatives: 

Dependent on import of raw material 

Dependence on government policy and subsidy