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.

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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  • FIIs have net withdrawn RS 40,000 crore across cash, stock and index futures segments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

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