Anil Singhvi strategy May 11: Important levels to track in Nifty50, Nifty Bank

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi shares his strategy for the May 11 session on Dalal Street. Check out his take on the Indian share market, and key support and resistance levels for the Nifty and the Nifty Bank.

Zee Business Managing Editor Anil Singhvi sees support for Nifty50 coming in at 18215-18265 levels on May 11.

Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 benchmark at 18,215-18,265 levels and a strong buy zone at 18,100-18,150 levels on Thursday, May 11. For the Nifty Bank — whose 12 constituents include HDFC Bank, SBI, and Axis Bank, he sees support emerging at 43,000-43,125 levels and a strong base at 42,675-42,825 levels.

Here's how Anil Singhvi sums up the market setup on May 11:

Global: Positive
FII: Positive
DII: Negative
F&O: Neutral
Sentiment: Positive
Trend: Positive

For the 50-scrip headline index, he expects a higher zone at 18350-18400 levels and a strong sell zone at 18,450-18,500 levels. For the banking index, he sees a higher zone at 43,425-43,575 levels and a profit-booking zone at 43,675-43,750 levels.

FII index longs at 49 per cent on Wednesday vs 48 per cent the previous day
Nifty put-call ratio (PCR) at 1.11 Vs 1
Nifty Bank PCR at 0.91 Vs 0.74
Fear index India VIX up by three per cent at 13.08

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

Nifty intraday and closing stop loss at 18,200
Nifty Bank intraday and closing stop loss at 43,000

For existing short positions:

Nifty intraday and closing stop loss at 18,350
Nifty Bank intraday and closing stop loss at 43,750

For new positions in Nifty:

Buy Nifty with a strict stop loss at 18,200 for targets of 18,350, 18,400, 18,425, 18,450, 18,475, 18,500
Aggressive traders can sell Nifty in the 18400-18450 range with a stop loss at 18,525 for targets of 18,350, 18,325, 18,275, 18,250, 18,215

For new positions in Nifty Bank:

Buy Bank Nifty in the range of 42,825-43,000 with a strict stop loss of 42600 for targets 43,075, 43,125, 43,200, 43,275, 43,325, 43,375
Aggressive traders buy Nifty Bank with a strict stop loss at 43,000 for targets of 43,425, 43,500, 43,575, 43,675, 43,725
Aggressive traders can sell Nifty Bank in the 43,500-43,675 range with a strict stop loss at 43,750 for targets of 43,425, 43,350, 43,275, 43,200, 43,125, 43,075, 43,000

F&O ban