Anil Singhvi strategy May 16: Important levels to track in Nifty 50, Nifty Bank today
Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi shares his strategy for the May 16 session. Check out his take on key support and resistance levels for the Nifty and the Nifty Bank, and how he views the market.
Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 benchmark emerging at 18,285-18,315 levels on Tuesday, May 16, and a strong buy zone at 18,215-18,265 levels. For the Nifty Bank, which is set to clock unprecedented levels for a second straight day, he sees support coming in at 43,675-43,800 levels and a strong buy zone at 43,475-43,575 levels.
Here's how Anil Singhvi sums up the market setup:
- Global: Neutral
- FII: Positive
- DII: Neutral
- F&O: Cautious
- Sentiment: Positive
- Trend: Positive
For the 50-scrip headline index, he expects a higher zone at 18,475-18,525 levels and a strong sell zone at 18,550-18,625 levels. For the banking index, he sees the next major level around 44,500, after it scaled the 44,152 peak on Monday.
- FII index longs at 50 per cent on Tuesday vs 46 per cent the previous day
- Nifty put-call ratio (PCR) at 1.35 vs 1.24
- Nifty Bank PCR nearly overbought at 1.42 vs 1.29
- Fear index India VIX up 2.5 per cent at 13.17
ANIL SINGHVI MARKET STRATEGY
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