Anil Singhvi's strategy May 30: Nifty support zone is 16225-16265, Bank Nifty support zone is 35100-35300

Amid positive global cues, positive Domestic Institutional Investors (DIIs), positive sentiments, neutral Futures and options, negative Foreign Institutional Investors (FIIs), the short-term trend of the Indian market will remain negative on Monday, May 30, 2022.  

Earlier, on Friday, the benchmarks Nifty50 and the Sensex closed with more than one per cent gains as the 50-share index closed above 16,350 and the 30-share index settled near 54,900. Sectorally, Nifty IT rose more than 2.5%, while Nifty midcap and smallcap gained 1.3% each in the broader market.  

Zee Business Managing Editor Anil Singhvi's views on Nifty, Bank Nifty on May 30.  

Nifty support zone is 16225-16265; below that 16125-16175 is a strong Buy zone 

Nifty higher zone is 16425-16500; above that 16600-16675 is a strong Profit booking zone 

Bank Nifty support zone is 35100-35300; below that 34600-34800 is a strong Buy zone 

Bank Nifty higher zone is 35850-35975; above that 36175-36350 is a strong Profit booking zone 
 
Nifty support levels: 16300, 16265, 16240, 16215, 16175, 16125 
 
Nifty higher levels: 16400, 16425, 16475, 16500, 16600, 16625, 16650, 16675 
 
Bank Nifty support levels: 35425, 35300, 35100, 34950, 34800, 34600 
 
Bank Nifty higher levels: 35750, 35850, 35975, 36050, 36175, 36275, 36350, 36400 

 
FIIs Index Long at 48% Vs 45% 
PCR at 1.14 Vs 1.13 
India VIX down by 5% at 21.48 

 
For Existing Long Positions: 
 
Nifty Intraday and Closing SL 16200 
Bank Nifty Intraday SL 35250 and Closing SL 35000 

 
For Existing Short Positions: 
 
Nifty Intraday and Closing SL 16425 
Bank Nifty Intraday SL 35750 and Closing SL 36000 

For New Positions: 
 
Buy Nifty: 
SL 16200; targets: 16425, 16475, 16500, 16600, 16650, 16675 
 
Sell Nifty in 16500-16600 range: 
SL 16700; targets: 16425, 16400, 16350, 16300, 16275, 16250, 16225, 16200 

 
For New Positions: 
 
Buy Bank Nifty: 
SL 35250; targets 35750, 35850, 35975, 36050, 36175, 36275, 36350, 36400 

Sell Bank Nifty in 36150-36350 range: 
SL 36500; targets: 36050, 35975, 35850, 35750, 35625, 35525 
 
No Stock In F&O Ban 
 
Ethos Listing Preview: 
Expected to list near issue price of 878 
Short Term Investors keep stoploss of 850