Anil Singhvi strategy May 17: Important levels to track in Nifty 50, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 benchmark emerging at 18,200-18,265 levels on Wednesday, May 17, and a strong buy zone at 18,065-18,150 levels. For the Nifty Bank, he sees support coming in at 43,525-43,675 levels and a strong buy zone at 43,200-43,375 levels.

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

• Global: Negative

• FII: Positive

• DII: Negative

• F&O: Neutral

• Sentiment: Neutral

• Trend: Positive

For the 50-scrip headline index, he expects a higher zone at 18,315-18,345 levels and a profit-booking zone at 18,400-18,450 levels.​ For the banking index, he sees a higher zone at 44,000-44,150 levels, and the next big range after the 44,200 mark at 44,400-44,500 levels. 

• FII index longs at 49 per cent on Wednesday vs 50 per cent the previous day
• Nifty put-call ratio (PCR) at 0.90 vs 1.35
• Nifty Bank PCR at 1.05 vs 1.42
• Fear index India VIX up one per cent at 13.29

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

• Nifty intraday stop loss at 18,175 and closing stop loss at 18,250
• Nifty Bank intraday stop loss at 43,650 and closing stop loss at 43,475

For existing short positions:

• Nifty intraday and closing stop loss at 18,450
• Nifty Bank intraday and closing stop loss at 44,200

For new positions in Nifty:

• Buy Nifty in the 18,200-18,265 range with a stop loss at 18,100 for targets of 18,285, 18,315, 18,340, 18,375, 18,400 and 18,425

• Sell Nifty in the 18,375-18,450 range with a stop loss at 18,500 for targets of 18,340, 18,315, 18,285, 18,265, 18,225 and 18,200

For new positions in Nifty Bank:

• Buy Nifty Bank in the 43,200-43,375 range with a stop loss at 43,000 for targets of 43,475, 43,575, 43,675, 43,750 and 43,800

• Aggressive traders can buy Nifty Bank in the 43,525-43,675 range with a strict stop loss at 43,400 for targets of 43,750, 43,800, 43,900, 44,000, 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, 43,675, 43,575 and 43,525

F&O ban

• New in ban: Balrampur Chini, Manappuram Finance
• Out of ban: BHEL
• Already in ban: Delta Corp, GNFC, PNB

RESULTS REVIEW

Bharti Airtel:

• Results as per expectations
• Revenue and margins in line with estimates, slight miss on ARPU front
• Strong free cash flow at Rs 4,300 crore

JSPL:

• Very weak performance
• Revenue, operating profit, margin and profit much below estimates
• Weak management commentary for next year

LIC Housing:

• Mixed results
  NIM at a multi-year high
• Improvement in credit cost and asset quality 
• Disbursement growth slightly weak
• Stock rose 3.5 per cent in a weak market on Tuesday 

Metropolis:

• Weak results on all parameters and below expectations
• Stock can fall more after declining two per cent on Tuesday

Oberoi Realty:

• Results fine on a year-on-year basis but very weak on all parameters on a quarter-on-quarter basis 

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