Anil Singhvi Market Strategy May 13: Important levels to track in Nifty50, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support for the headline Nifty50 index to emerge at 21,925-22,000 levels and a strong buy zone at 21,775-21,850 levels on Monday, May 13.

For the Nifty Bank, he expects support to come in at 47,075-47,250 levels followed by a strong buy zone at 46,600-46,900 levels.

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

• Global: Positive

• FII: Negative

• DII: Positive 

• F&O: Neutral

• Sentiment: Neutral

• Trend: Positive

He expects a higher zone for the headline index at 22,125-22,200 levels and a strong sell zone at 22,250-22,350 levels.

For the banking index, he expects a higher zone at 47,850-48,000 levels and a strong sell zone at 48,125-48,275 levels.

ANIL SINGHVI MARKET STRATEGY  

• FII index longs at 34 per cent vs 33 per cent the previous day

• Nifty put-call ratio (PCR) at 0.91 vs 0.90

• Nifty Bank PCR at 0.69 vs 0.65

• Volatility index India VIX up 1.5 per cent at 18.47

Lok Sabha Election: How important is Phase 4 voting?

• Voting percentage was recorded at 69.12 per cent in 2019 
• In 2019, BJP won 42 out of 96 seats; NDA bagged 47
• Dalal Street took Phase 1 voting positively
• However, weakness emerged in the market during Phase 2 voting 

What's positive today?

• Dow has continued to rise for eight sessions in a row
• Domestic IIP data strong
• Crude oil below $83 a barrel

What's negative today?

• Eight straight days of FII outflows in cash segment
• FIIs have net withdrawn RS 40,000 crore across cash, stock and index futures segments
• Nifty Bank remains weak; eight straight sessions of lower closing

Editor's Take

• All eyes on Phase 4 voting
• Important for Nifty50 and Nifty Bank to close above 21,950 and 47,000 respectively
• Only closing levels above 22,300 and 48,050 will signal the end of correction
• Investors should go long this week if there is panic in the market
• Traders should continue to trade light with caution

For existing long positions:

• Nifty intraday and closing stop loss at 21,900

• Nifty Bank intraday stop loss at 47,250 and closing stop loss at 47,000

For existing short positions:

• Nifty intraday stop loss at 22,150 and closing stop loss at 22,300
• Nifty Bank intraday and closing stop loss at 48,000

For new positions in Nifty:

• Aggressive traders can buy Nifty in the 21,850-21,950 range with a strict stop loss at 21,750 for targets of 22,000, 22,050, 22,075, 22,125, 22,200 and 22,225

• Aggressive traders can sell Nifty in the 22,125-22,225 range with a strict stop loss at 22,325 for targets of 22,075, 22,050, 22,000, 21,950 and 21,925

For new positions in Nifty Bank:

• Aggressive traders can buy Nifty Bank in the 46,900-47,075 range with a strict stop loss at 46,800 for targets of 47,250, 47,325, 47,425, 47,475, 47,625 and 47,850 

• Aggressive traders can sell Nifty Bank in the 47,850-48,000 range with a strict stop loss at 48,300 for targets of 47,625, 47,500, 47,425, 47,325, 47,250 and 47,075

F&O ban update

• New in ban: Hindustan Copper
• Out of ban: AB Fashion, Piramal Enterprises
• Already in ban: Canara Bank, Zee Entertainment Enterprises, PNB, SAIL, Balrampur Chini, GMR Airports, Vodafone Idea

Catch all the latest stock market updates here. For all other news related to business, politics, tech and auto, visit Zeebiz.com.