Anil Singhvi Market Strategy May 14: 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 22,000-22,050 levels and a strong buy zone at 21,825-21,950 levels on Tuesday, May 14.

For the Nifty Bank, he expects support to come in at 47,325-47,500 levels followed by a strong buy zone at 46,975-47,075 levels.

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

• Global: Neutral

• FII: Negative

• DII: Positive 

• F&O: Neutral

• Sentiment: Neutral

• Trend: Positive

He expects a higher zone for the headline index at 22,175-22,250 levels and a strong sell zone at 22,300-22,400 levels.

For the banking index, he expects a higher zone at 47,900-48,075 levels and a strong sell zone at 48,200-48,325 levels.

ANIL SINGHVI MARKET STRATEGY  

• FII index longs unchanged at 34 per cent as the previous day

• Nifty put-call ratio (PCR) at 0.97 vs 0.91

• Nifty Bank PCR at 0.90 vs 0.69

• Volatility index India VIX up 11.5 per cent at 20.60

For existing long positions:

• Nifty intraday and closing stop loss at 21,900

• Nifty Bank intraday and closing stop loss at 47,300

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 21,950-22,050 range with a strict stop loss at 21,800 for targets of 22,100, 22,125, 22,200, 22,225 and 22,300

• Aggressive traders can sell Nifty in the 22,175-22,300 range with a strict stop loss at 22,400 for targets of 22,125, 22,100, 22,050, 22,000, 21,950 and 21,925

For new positions in Nifty Bank:

• Aggressive traders can buy Nifty Bank in the 47,325-47,500 range with a strict stop loss at 47,200 for targets of 47,625, 47,750, 47,850, 47,975 and 48,075 

• Aggressive traders can sell Nifty Bank in the 48,000-48,150 range with a strict stop loss at 48,350 for targets of 47,850, 47,750, 47,625, 47,500, 47,425 and 47,325

F&O ban update

• New in ban: Piramal Enterprises
• Already in ban: Hindustan Copper, Canara Bank, Zee Entertainment Enterprises, PNB, SAIL, Balrampur Chini, GMR Airports, Vodafone Idea
• Out of ban: None

Results reviews

DLF 

• Strong results
• Outlook strong but Q4 pre-sales lower than expected
• Book profit on a gap-up opening
• DLF futures have support at Rs 815 and Rs 825, and higher levels at Rs 855 and Rs 865

JSPL 

• Results below expectations on all parameters
• Stock generally reverses from lower levels
• JSPL futures have support at Rs 905 and Rs 920, and a higher level at Rs 950

UPL 

• Post-result conference call not great
• Book profit at higher levels

Zomato 

• Strong upgrades by brokerages
• Buy on dips

Stocks of the Day

Buy Varun Beverages shares with a stop loss at Rs 1,460 for targets of Rs 1,495 and Rs 1,505

• Strong results came during market hours on Monday
• Jefferies has raised its target to Rs 1,690 from Rs 1,480

Buy HAL futures with a stop loss at Rs 3,900 for targets of Rs 3,980, Rs 4,020 and Rs 4,075

• UBS has raised its target to Rs 5,200 from Rs 3,600 

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