Anil Singhvi strategy May 12: Important levels to track in Nifty50, Nifty Bank

Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 benchmark at 18,200-18,225 levels and a strong buy zone at 18,100-18,150 levels on Friday, May 12. For the Nifty Bank — whose 12 constituents include HDFC Bank, SBI, and Axis Bank, he sees support emerging at 43,075-43,200 levels and a strong base at 42,825-43,000 levels.

Here's how Anil Singhvi sums up the market setup on May 12:

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

For the Nifty50 index, Singhvi expects a higher zone at 18,300-18,350 levels and a strong sell zone at 18,375-18,450 levels.​ For the banking index, he sees a higher zone at 43,575-43,675 levels and a profit-booking zone at 43,725-43,850 levels.

• FII index longs at 47 per cent on Thursday vs 49 per cent the previous day
• Nifty put-call ratio (PCR) at 1.25 Vs 1.11
• Nifty Bank PCR at 1.06 Vs 0.91
• Fear index India VIX up by 1 per cent at 13.22

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 18,400
• Nifty Bank intraday and closing stop loss at 43,800

For new positions in Nifty:

• Buy Nifty in the range of 18,150-18,225 with a strict stop loss at 18,100 for targets of 18,265, 18,300, 18,325, 18,350, 18,400.
• Sell Nifty in the 18,350-18,400 range with a stop loss at 18,450 for targets of 18,300, 18,275, 18,250, 18,225, 18,200.

For new positions in Nifty Bank:

• Aggressive traders buy Bank Nifty in the range of 43,125-43,275 with a strict stop loss of 43,000 for targets 43,350, 43,475, 43,525, 43,575, 43,675, 43,750.
• Aggressive traders can sell Nifty Bank in the 43,575-43,750 range with a strict stop loss at 43,800 for targets of 43,525, 43,475, 43,375, 43,325, 43,275, 43,200, 43,125.

F&O ban

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

Stock Of The Day:

• Buy Sona BLW:
• SL 540 Tgt 565, 575, 590
• Weightage in MSCI now 0.29%, Expect buying of 1400 crore

Result Review:
Eicher Motors:

• Strong operational performance on 18% volume growth
• Strong 23% growth in operating profit due to lower cost
• Strong outlook on demand, pricing, and margins

 
Siemens:

• Strong performance
• Strong revenue and profit growth, better than estimates
• Strong order flow
• Ensures future visibility
• The stock already ran up ahead of the results

Deepak Nitrite:

• Except for margins everything is bad
• The global slowdown will have a negative impact on volume growth and profit
• Very weak outlook for FY24

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