Anil Singhvi’s Strategy May 14: Bank, NBFC & Auto sectors are Negative; Sell HDFC Bank Futures with Stop Loss 935

Amid negative global markets, neutral foreign institutional investors (FIIs), domestic institutional investors (DIIs), and futures & options (F&O) cues, the short-term trend of the Indian stock markets will be Neutral on Thursday, May 14, 2020, while sentiment is cautious. 

Domestic equity benchmarks Wednesday, May 13, 2020, gained more than two per cent responding to the stimulus of Rs 20 lakh crore announced by Prime Minister Narendra Modi to help and boost Coronavirus-hit economy. Sensex at Bombay Stock Exchange ended 637.49 points, or 2.03 per cent, up at 32,008.61 even as major Asian and European share markets were down. Similarly, the Nifty at National Stock Exchange rose 187 points, or 2.03 per cent, to close at 9,383.55. Bank Nifty rose 772.10 points, or 4.09 per cent, to settle at 19,634.95. 

Zee Business's Managing Editor Anil Singhvi's Market Strategy for May 14:

Big downside only if Nifty and Bank Nifty close below 9,200 and 18,850.

Big upside only if Nifty and Bank Nifty close above 9,550 and 19,750.

Day Support Zone on Nifty is 9,125-9,200 and the higher range is 9,400-9,550.

Day Support Range on Bank Nifty is 18,850-19,100 and the higher range is 19,750-20,100.

The small day range for trading on Nifty is 9,250-9,400, while the medium and bigger ranges are 9,200-9,500 and 9,175-9,550 respectively. 

The small day range for trading on Bank Nifty is 19,300-19,750, while the medium and bigger ranges are 19,100-19,850 and 18,900-20,100 respectively. 

For Existing Long Positions:                                                                  

Nifty intraday and closing stop loss 9,200

Bank Nifty intraday and closing stop loss 18,850.

For Existing Short Positions:

Nifty intraday and closing stop loss 9,450.

Bank Nifty intraday and closing stop loss 19,800.

For New Positions:

Sell Nifty with a stop loss of 9,450 and target 9,250, 9,200, 9,175, 9,125.

Buy Nifty in 9,125-9,200 range with a stop loss of 9,025 and target 9,225, 9,275, 9,300.

Sell Bank Nifty with a stop loss of 19,800 and target 19,350, 19,250, 19,100, 18,950, 18,800.

Buy Bank Nifty in 18,850-19,100 range with a stop loss of 18,750 and target 19,250, 19,350, 19,450.

Put-Call Ratio (PCR) is 1.12 and the Volatility Index (VIX) up 2% 38.84.

Sectors
Negative: Bank, NBFC, Auto

F&O Update:
Enters in F&O Ban: BHEL

Already In F&O Ban: Vodafone Idea

See Zee Business Live TV Streaming Below:

Stock of the Day
Sell HDFC Bank Futures: Stop loss 935 and target 905, 895, 885. Profit Booking expected in bank shares.