Anil Singhvi’s Strategy May 21: Day support zone on Nifty is 14,900-14,925 & Bank Nifty is 33,150-33,350

Amid positive global markets, sentiment, negative foreign neutral institutional investors (FIIs), domestic institutional investors (DIIs) and neutral futures & options (F&O) cues, the short-term trend of the Indian stock markets will be positive on Friday, May 21, 2021.

See Zee Business Live TV Streaming Below:

Domestic equity markets ended near the day’s low after volatile trade on Thursday, May 20, 2021. The S&P BSE Sensex index declined 337.78 points or 0.68 per cent to close at 49,564.86. The Nifty 50 index lost 124.10 points or 0.83 per cent and closed below 15,000-mark at 33,334.55. The Bank Nifty index also fell 350.65 points or 1.04 per cent and settled lower at 33,334.55. 

In the broader markets, the S&P BSE MidCap index and SmallCap index ended 0.16 per cent and 0.22 per cent lower today, respectively. 

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for May 21:

Day support zone on Nifty is 14,900-14,925, below that 14,825-14,850 is a strong Buy zone.

Day higher zone on Nifty is 15,000-15,030, above that 15,100-15,130 is a Profit-booking zone. 

Day support zone on Bank Nifty is 33,150-33,350, below that 32,800-33,000 is a strong Buy zone

Day higher zone on Bank Nifty is 33,725-33,775, above that 33,950-34,150 is a Profit-booking zone.

Small Day Range for trading on Nifty is 14,900-15,030, while the medium and bigger ranges are 14,850-15,100 and 14,825-15,130, respectively.

Small Day Range for trading on Bank Nifty is 33,350-33,725, while the medium and bigger ranges are 33,150-33,950 and 33,000-34,150, respectively. 

FIIs Index long at 55% Vs 59%.

PCR at 1.30 Vs 1.25.

India VIX up by 2% at 19.65.

For Existing Long Positions:

Nifty intraday and closing stop loss are 14,875.

Bank Nifty intraday and closing stop loss are 33,150.

For Existing Short Positions:

Nifty intraday and closing stop loss are 15,050.

Bank Nifty intraday stop loss is 33,800 and closing stop loss is 34,000. 

For New Positions:

Buy Nifty with a stop loss of 14,875 and target 15,000, 15,030, 15,065, 15,100, 15,130, 15,165.

Sell Nifty in 15,070-15,130 range with a stop loss of 15,200 and target 15,040, 15,000, 14,950, 14,925.

For New Positions:

Buy Bank Nifty with a stop loss of 33,150 and target 33,600, 33,675, 33,725, 33,775, 33,925, 34,000, 34,150.

Sell Bank Nifty in 33,900-34,150 range with a stop loss of 34,300 and target 33,775, 33,725, 33,675, 33,600, 33,500, 33,350.

F&O Ban Update:

3 Already In Ban: NALCO, SAIL, Cadila Health

3 New In Ban: PNB, BHEL, JSPL

Out Of Ban: Nil