Anil Singhvi’s Strategy May 20: Day support zone on Nifty is 14,900-14,950 & Bank Nifty is 33,150-33,300

Amid negative global markets, foreign neutral institutional investors (FIIs), domestic institutional investors (DIIs), neutral futures & options (F&O) and sentiment cues, the short-term trend of the Indian stock markets will be positive on Thursday, May 20, 2021. 

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The domestic equity barometers ended with steep losses on Wednesday, May 19, 2021. The S&P BSE Sensex declined 290.69 points or 0.58 per cent to end at 49,902.64. The Nifty 50 index defended the crucial 15,000-mark and closed 77.95 points or 0.52 per cent lower at 15,030.15. The Bank Nifty index lost 237.20 points or 0.70 per cent and closed at 33,685.20.  

But, in the broader market, outperforming the Sensex, the BSE Mid-cap index jumped 0.53 per cent and the Small-cap index added 0.35 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for May 20:

Day support zone on Nifty is 14,900-14,950, below that 14,825-14,850 is a strong Buy zone.

Day higher zone on Nifty is 15,100-15,130, above that 15,165-15,240 is a strong Profit-booking zone

Day support zone on Bank Nifty is 33,150-33,300, below that 32,800-33,000 is a strong Buy zone.

Day higher zone on Bank Nifty is 33,950-34,150, above that 34,275-34,425 is a Profit-booking zone.

The small Day Range for trading on Nifty is 14,950-15,100, while the medium and bigger ranges are 14,900-15,130 and 14,825-15,200 respectively. 

The small Day Range for trading on Bank Nifty is 33,300-33,950, while the medium and bigger ranges are 33,150-34,150 and 33,000-34,275 respectively. 

FIIs Index long at 59% Vs 58%

PCR at 1.25 Vs 1.39

India VIX unchanged at 19.32

For Existing Long Positions:

Nifty intraday and closing stop loss of 14,900.

Bank Nifty intraday stop loss is 33,500 and closing stop loss is 33,150.

For Existing Short Positions:

Nifty intraday and closing stop loss of 15,150.

Bank Nifty intraday and closing stop loss of 34,000.

For New Positions:

Buy Nifty in 14,900-14,950 range with a stop loss of 14,800 and target 15,000, 15,030, 15,100, 15,130, 15,200.

Aggressive Traders Buy Nifty with a Strict stop loss of 14,975 and target 15,100, 15,130, 15,165, 15,200, 15,240.

Sell Nifty in 15,130-15,240 range with a stop loss of 15,325 and target 15,100, 15,040, 15,000, 14,950.

For New Positions:

Buy Bank Nifty in 33,150-33,300 range with a stop loss of 33,000 and target 33,500, 33,600, 33,675, 33,775, 33,950. 

Aggressive Traders Buy Bank Nifty with a Strict stop loss of 33,450 and target 33,775, 33,950, 34,150, 34,275, 34,325, 34,425.

Aggressive Traders Sell Bank Nifty in 33,950-34,150 range with a Strict stop loss of 34,300 and target 33,775, 33,675, 33,600, 33,500, 33,300, 33,150.

F&O Ban Update:

3 Already In Ban: NALCO, SAIL, Cadila Health

New In Ban: Nil

3 Out Of Ban: Sun TV, PNB, BHEL