Anil Singhvi strategy May 18: Important levels to track in Nifty 50, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects a strong buy zone in the Nifty50 benchmark at 18,000-18,125 levels on Thursday, May 18. For the Nifty Bank, he sees support coming in at 43,375-43,475 levels and a strong buy zone at 43,200-43,325 levels.

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

• Global: Positive

• FII: Neutral

• DII: Neutral

• F&O: Neutral

• Sentiment: Neutral

• Trend: Positive

For the 50-scrip headline index, he expects a higher zone at 18,265-18,285 levels and a profit-booking zone at 18,315-18,400 levels.​ For the banking index, he sees a higher zone at 43,900-44,000 levels, and a profit-booking zone at 44,075-44,150 levels.  

• FII index longs at 47 per cent on Thursday vs 49 per cent the previous day
• Nifty put-call ratio (PCR) light and comfortable at 0.83 vs 0.9
• Nifty Bank PCR at 0.83 vs 1.05
• Fear index India VIX down 1.5 per cent at 13.11

ANIL SINGHVI MARKET STRATEGY

The market wizard expects strong support at 17,900-18,000 levels for the Nifty and at 43,000-43,200 levels for the Nifty Bank. One can expect midcap and smallcap stocks to strengthen, which will create opportunities to buy, he says. 

For existing long positions:

• Nifty intraday and closing stop loss at 18,000
• Nifty Bank intraday and closing stop loss at 43,450

For existing short positions:

• Nifty intraday stop loss at 18,325 and closing stop loss at 18,400
• Nifty Bank intraday and closing stop loss at 44,150

For new positions in Nifty:

• Buy Nifty with a stop loss at 18,100 for targets of 18,215, 18,265, 18,285, 18,315, 18,340 and 18,390

• Sell Nifty in the 18,285-18,390 range with a stop loss at 18,450 for targets of 18,265, 18,215, 18,180, 18,150 and 18,115

For new positions in Nifty Bank:

• Buy Nifty Bank in the 43,300-43,475 range with a stop loss at 43,100 for targets of 43,575, 43,675, 43,750, 43,800 and 43,900

• Aggressive traders can buy Nifty Bank with a strict stop loss at 43,450 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, 43,700, 43,575 and 43,500

F&O ban

• New in ban: AB Fashion, LIC Housing Finance
• Already in ban: Balrampur Chini, Manappuram Finance, Delta Corp, GNFC, PNB
• Out of ban: None

RESULTS REVIEW

Whirlpool:

• Results below expectations on all parameters
• Weak demand and heavy competition a big challenge
• Weak future outlook
• Stock out from June F&O series

REC:

• NII, profit in line with estimates
• NIM declines
• Improvement in asset quality
• Strong growth in disbursements

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