Anil Singhvi Market Strategy May 18: Important levels to track in Nifty50, Nifty Bank today

Anil Singhvi Market Strategy, Saturday Special Trading: Zee Business Managing Editor Anil Singhvi expects support for the headline Nifty50 index to emerge at 22,350-22,425 levels and a strong buy zone at 22,225-22,300 levels on Saturday, May 18, as exchanges BSE and NSE are all set to conduct two special sessions.

For the Nifty Bank, he expects support to come in at 47,850-47,975 levels and a strong buy zone at 47,625-47,750 levels.

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

• Global: Positive

• FII: Positive

• DII: Positive

• F&O: Neutral

• Sentiment: Positive

• Trend: Positive

He expects a higher zone for the headline index at 22,550-22,600 levels and a strong sell zone at 22,650-22,750 levels.

For the banking index, he expects a higher zone at 48,250-48,425 levels and a strong sell zone at 48,475-48,625 levels.

Editor's Take

• Higher Phase 4 voter turnout triggered a surge on Dalal Street on Friday
• Rupee strengthened by 17 paise
• FIIs emerged net buyers in the cash market for the first time this month
• A halt in FII outflows will boost confidence on Dalal Street
• Strong global signals
• Higher targets for Nifty and Nifty Bank placed at 22,550-22,650 and 48,350-48,500 respectively
• One can expect some profit-booking in a bounce before Phase 5 voting
• Midcap, smallcap stocks are likely to continue to see strong buying interest
• In the cash market, investors should focus on midcap and smallcap companies posting good results 

ANIL SINGHVI MARKET STRATEGY  

• FII index longs at 28 per cent vs 26 per cent the previous day

• Nifty put-call ratio (PCR) at 1.23 vs 1.19

• Nifty Bank PCR at 0.95 vs 0.88

• Volatility index India VIX down one per cent at 19.80

For existing long positions:

• Nifty intraday stop loss at 22,325 and closing stop loss at 22,200

• Nifty Bank intraday stop loss at 47,700 and closing stop loss at 47,400

For existing short positions:

• Nifty intraday and closing stop loss at 22,550

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

For new positions in Nifty:

• The best range to buy Nifty is 22,350-22,425 with a stop loss at 22,200 for targets of 22,475, 22,500, 22,550, 22,575, 22,600 and 22,650

• Aggressive traders can sell Nifty in the 22,550-22,650 range with a strict stop loss at 22,750 for targets of 22,500, 22,475, 22,425, 22,400 and 22,350

For new positions in Nifty Bank:

• The best range to buy Nifty Bank is 47,750-47,950 with a stop loss at 47,600 for targets of 48,050, 48,125, 48,200, 48,275, 48,350, 48,425 and 48,475

• Aggressive traders can sell Nifty Bank in the 48,425-48,575 range with a strict stop loss at 48,650 for targets of 48,350, 48,275, 48,200, 48,075, 48,000 and 47,850

F&O ban update

• New in ban: AB Capital
• Already In Ban: Granules, Biocon, India Cements, Birlasoft, Piramal Enterprises, Hind Copper, Zee Entertainment Enterprises, SAIL, Balrampur Chini, GMR Airports, Vodafone Idea, Bandhan Bank
• Out of ban: None

Results reviews

JSW Steel

• Mixed results
• Margins and profit a little below estimates
• Revenue strong

Astral Ltd

• Weak results
• EBITDA, margin, PAT below expectations
• Strong volume growth in adhesives the only positive  
• Stock has risen 17 per cent in three months

Bandhan Bank and Balrampur Chini

• Both as usual very weak results
• Both stocks in F&O ban

Stocks of the Day

Buy Varroc Eng shares with a stop loss at Rs 560 for targets of Rs 580, Rs 587 and Rs 600

• Strong all-round performance

Buy Concor futures with a stop loss at Rs 1,075 for targets of Rs 1,115, Rs 1,135 and Rs 1,150

• Very strong results
• Jefferies has raised target from Rs 1,110 to Rs 1,240 
• It’s one of the best PSU stock for long-term investment 

Buy Kaynes Tech shares with a stop loss at Rs 3,050 for targets of Rs 3,125, Rs 3,150 and Rs 3,200

• Stock surged 20 per cent on Friday post-strong results
• Follow up buying expected

Buy Balkrishna Industries futures with a stop loss at Rs 2,640 for targets of Rs 2,695, Rs 2,725, Rs 2,750 and Rs 2,770

• Strong results on all parameters
• Margins up by 500 bps at 25 per cent 
• Stock has risen 13 per cent in three months

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