Anil Singhvi strategy May 23: Key levels to track in Nifty 50, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects strong support in the Nifty50 benchmark at 18,265-18,285 levels on Tuesday, May 23, and a strong buy zone at 18,175-18,215 levels. For the Nifty Bank, he sees support coming in at 43,675-43,800 levels and a strong buy zone at 43,450-43,525 levels.

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

• Global: Neutral

• FII: Positive

• DII: Positive

• F&O: Neutral

• Sentiment: Positive

• Trend: Positive

For the 50-scrip headline index, he expects a higher zone at 18,340-18,390 levels and a profit-booking zone at 18,425-18,500 levels.​ For the banking index, he sees a higher zone at 44,000-44,150 levels, and above 44,200, the next big level in the 44,400-44,500 area.   

• FII index long unchanged at 48 per cent
• Nifty put-call ratio PCR at 1.21 vs 1.01 the previous day
• Nifty Bank PCR at 0.9 vs 1.15
• Fear index India VIX up two per cent at 12.57

ANIL SINGHVI MARKET STRATEGY

Market wizard Anil Singhvi expects the market to be skewed towards buying owing to buying by FIIs. One can use any decline in the market to buy as opportunities remain in midcap and smallcap segments, he said. 

Investors need not worry as long as the Nifty and the Nifty Bank hold 18,000 and 43,000 levels on a closing basis respectively, he added. 

For existing long positions:

• Nifty intraday stop loss at 18,175 and closing stop loss at 18,125
• Nifty Bank intraday stop loss at 43,450 and closing stop loss at 43,650

For existing short positions:

• Nifty intraday stop loss at 18,500 and closing stop loss at 18,400
• Nifty Bank intraday and closing stop loss at 44,200

For new positions in Nifty:

• Buy Nifty in the 18,215-18,285 range with a stop loss at 18,150 for targets of 18,315, 18,340, 18,390, 18,425 and 18,450

• Aggressive traders can sell Nifty in the 18,390-18,450 range with a strict stop loss at 18,525 for targets of 18,340, 18,315, 18,285, 18,265, 18,215 and 18,175

For new positions in Nifty Bank:

• Buy Nifty Bank in the 43,525-43,700 range with a stop loss at 43,450 for targets of 43,750, 43,800, 43,900, 43,975, 44,025, 44,075 and 44,150

  Aggressive traders can sell Nifty Bank in the 44,000-44,150 range with a strict stop loss at 44,200 for targets of 43,900, 43,825, 43,750, 43,700, 43,575 and 43,525

F&O ban

• New in ban: Indiabulls Housing Finance
• Out of ban: Delta Corp, GNFC, AB Fashion, Balrampur Chini
• Already in ban: L&T Finance, Manappuram Finance

Stock of the day

Buy Max Healthcare with a stop loss at Rs 540 for targets of Rs 560, Rs 568 and Rs 575

• GQG Partners bought 75 lakhs shares (0.78 per cent) at Rs 550 apiece

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