Anil Singhvi's strategy May 20: Support zone on Nifty is 15740-15800, Bank Nifty is 33000-33125

Amid neutral global markets, negative Foreign Institutional Investors (FIIs), positive Domestic Institutional Investors (DIIs) and Futures and Options, sentiments are cautious and short-term trend remains negative on Friday.  

Meanwhile, benchmarks Nifty50 and Sensex declined 2.6% each on Thursday as the broader Nifty ended around 15,800 and the 30-share index dropped over 1400 points. Nifty IT corrected nearly 6% as all other sectoral indices slipped deep in the red. Nifty midcap and smallcap closed with cuts of 3% and 2.6% respectively.  

Zee Business Managing Editor Anil Singhvi's strategy on Nifty, Bank Nifty on May 20 
Nifty support zone 15740-15800; below that 15550-15675 strong support zone 

Nifty higher zone 15975-16075; above that 16200-16250 strong profit booking zone 

Bank Nifty support zone 33000-33125; below that 32375-32450 strong support zone 

Bank Nifty higher zone 33600-33800; above that 34000-34150 strong profit booking zone 

Nifty support levels 15775, 15740, 15675, 15625, 15550 

Nifty higher levels 15850, 15900, 15975, 16000, 16075, 16150, 16200, 16250 

Bank Nifty support levels 33175, 33125, 33025, 32875, 32450, 32375, 32150 

Bank Nifty higher levels 33525, 33600, 33675, 33800, 33900, 34000, 34150, 34300 

FIIs Index Long at 29% Vs 31% 

PCR down at 0.8 vs 0.87, light and comfortable 

India VIX UP by 10% at  24.56 

For Existing Long Positions: 

Nifty Intraday SL 15650 and Closing SL 15775 

BankNifty Intraday and Closing SL 32950 

For Existing Short Positions: 

Nifty Intraday 16050 and Closing SL 16275 

BankNifty Intraday 33700 and Closing SL 34300 

For New Positions: 

Buy NIfty 

SL 15725 tgt 15900, 15975, 16000, 16075, 16150, 16200 
Sell Nifty in 16050-16200 range: 

SL 16300 Tgt 16000, 15975, 15900, 15850, 15800, 15775, 15740 

For New Positions: 

Buy BankNifty 

SL 32950 Tgt 33525, 33600, 33675, 33800, 33900, 34000, 34150, 34300 

Sell BankNifty in 34000-34300 range: 

SL 34700 Tgt 33900, 33800, 33700, 33600, 33525, 33300, 33175, 33025 
 

F&O Ban Update: 

Already In Ban: GNFC, PNB, IB Housing Finance, Delta Corp 

New In Ban: Nil 

Out Of Ban: Nil 

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Prudent Corporate Listing Preview: 

Expected to list below issues price of 930 
Long Term Investors can buy if list at big discount 
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eMudhra IPO Preview: 

apply for long term 

Positives: 

experience and good quality management 

market leadership, strong growth outlook 

impressive financial track record 

Negatives: 

valuations reasonable