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

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

• Already In Ban: Canara Bank, BHEL, GNFC, Manappuram Finance
• New In Ban: Nil
• Out Of Ban: Nil

Stock Of The Day:

Sell Dr Reddy’s Futures:

• Stop loss 4920 Target 4750, 4700, 4650
• Weak results on all parameters
• US Sales down 17% QoQ
• Adjusted operating profit and margins much below estimates

Sell BOSCH Futures:

• Stop loss  19700 Target 19100, 18800
• Revenue better than estimates but big margin miss at 12% Vs 14.5% estimate
• Chairman resigns
• Difficult to maintain margins in future

Buy Gujarat Gas Futures:

• Stop loss 460 Target 471, 475
• Impressive operational performance
• Margins and volumes much better than estimates

Buy Godrej Consumer Futures:

• Stop loss 948 Target 972, 983, 996
• Excellent results
• Strong 6% volume growth ahead of Peers

Margins better than estimates

Result Review:

L&T:

• Results little below estimates
• Management commentary very strong
• Record high order book at 4 lakh crore
• Strong revenue growth guidance 12-15%

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