Anil Singhvi’s Strategy May 19: Day support zone on Nifty is 15,000-15,050 & Bank Nifty is 33,500-33,725

Amid negative global markets, positive foreign neutral institutional investors (FIIs), domestic institutional investors (DIIs), sentiment and neutral futures & options (F&O) cues, the short-term trend of the Indian stock markets will be positive on Wednesday, May 19, 2021. 

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Rising for a second consecutive session, domestic equity barometers ended with strong gains on Tuesday, May 18, 2021. The S&P BSE Sensex crossed the 50,000 mark. The Nifty 50 index reclaimed the 15,000-mark for the first time since March 12 on a closing basis. 

The S&P BSE Sensex advanced 612.60 points or 1.24 per cent to 50,193.33. The Nifty 50 index added 184.95 points or 1.24 per cent to 15,108.10. The Bank Nifty index surged 463.15 points or 1.38 per cent and closed at 33,922.40. 

In the broader market space, the S&P BSE MidCap index zoomed 1.87 per cent to settle at 21,232.21 after hitting a record peak of 21,265.23 levels earlier today. The SmallCap index, meanwhile, ended 1.28 per cent higher at 22,847.90. 

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for May 19:

Day support zone on Nifty is 15,000-15,050, below that 14,900-14,950 is a strong Buy zone.

Day higher zone on Nifty is 15,165-15,200, above that 15,240-15,310 is strong Sell zone.

Day support zone on Bank Nifty is 33,500-33,725, below that 33,150-33,300 is a strong Buy zone.

Day higher zone on Bank Nifty is 34,175-34,275, above that 34,425-34,500 is Profit-booking zone. 

The Small Day Range for trading on Nifty is 15,050-15,165, while the medium and bigger day ranges are 15,000-15,200 and 14,940-15,240, respectively.

The Small Day Range for trading on Bank Nifty is 33,725-34,175, while the medium and bigger day ranges are 33,500-34,275 and 33,300-34,425.

Big Increase in FIIs Index long at 58% Vs 46%

PCR at 1.39 Vs 1.40

India VIX down by 2% at 19.24

For Existing Long Positions:

Nifty intraday stop loss is 15,000 and closing stop loss is 14,900.

Bank Nifty intraday stop loss is 33,700 and closing stop loss is 33,150.

For Existing Short Positions:

Nifty intraday and closing stop loss are 15,165.

Bank Nifty intraday and closing stop loss are 34,200.

For New Positions:

Buy Nifty in 14,950-15,050 range with stop loss of 14,900 and target 15,100, 15,135, 15,165, 15,200, 15,240, 15,310.

Sell Nifty in 15,200-15,240 range with stop loss of 15,325 and target 15,175, 15,140, 15,110, 15,050.

For New Positions:

Buy Bank Nifty in 33,150-33,300 range with a stop loss of 33,000 and target 33,500, 33,725, 33,775, 33,925.

Aggressive Traders Buy Bank Nifty in 33,500-33,725 range with a Strict stop loss of 33,425 and target 33,925, 34,125, 34,225, 34,275, 34,325, 34,425, 34,500.

Sell Bank Nifty in 34,425-34,500 range with a Strict stop loss of 34,575 and target 34,325, 34,225, 34,150, 34,025, 33,925, 33,775.

F&O Ban Update:

5 Already In Ban: SAIL, Sun TV, PNB, BHEL, Cadila Health

New In Ban: NALCO

Out Of Ban: Canara Bank