Anil Singhvi strategy May 26: Important levels to track in Nifty, Nifty Bank on first day of June F&O series

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 benchmark at 18,265-18,285 levels on Friday, May 26 — the first day of the June F&O series, and a strong buy zone at 18,175-18,225 levels. For the Nifty Bank, he sees support coming in at 43,400-43,525 levels and a strong buy zone at 43,200-43,350 levels.

The market wizard has a positive outlook on the June derivatives series, which begins on Friday. He expects the market to go up but with a slower pace. 

He expects strong support for the Nifty and the Nifty Bank in the June series at 17,900-18,000 and 43,000-43,200 levels respectively. 

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

• Global: Negative

• FII: Neutral

• DII: Positive

• F&O: Neutral

• Sentiment: Neutral

• Trend: Positive

For the 50-scrip headline index, he expects a higher zone at 18,340-18,390 levels and a profit-booking zone at 18,425-18,500 levels.​ For the banking index, he sees a higher zone at 43,850-43,975 levels and a strong sell zone at 44,000-44,150 levels.   

• FII index longs at 58 per cent vs 49 per cent the previous day

• Nifty put-call ratio (PCR) at 1.11 vs 1.01

• Nifty Bank PCR at 0.90 vs 0.76

• Fear index India VIX down 4.5 per cent at 12.52

ANIL SINGHVI MARKET STRATEGY

Market wizard Anil Singhvi suggests buying at strong support levels as he expects a slower pace of growth in the Indian market owing to a lack of global support. One can also take profits at important levels on the upside, he adds. 

He believes there will be opportunities to trade on either side and investors need not worry as long as the Nifty and the Nifty Bank hold 18,000 and 43,000 levels on a closing basis respectively. 

He continues to see opportunities in midcap and smallcap stocks.

For existing long positions:

• Nifty intraday and closing stop loss at 18,175

• Nifty Bank intraday stop loss at 43,200 and closing stop loss at 43,650

For existing short positions:

• Nifty intraday stop loss at 18,500 and closing stop loss at 18,400

• Nifty Bank intraday stop loss at 44,200 and closing stop loss at 44,000

For new positions in Nifty:

• Buy Nifty in the 18,200-18,265 range with a stop loss at 18,100 for targets 18,285, 18,315, 18,340, 18,390, 18,425 and 18,450

• Sell Nifty in the 18,390-18,450 range with a stop loss at 18,500 for targets of 18,350, 18,315, 18,285, 18,265, 18,225 and 18,200

For new positions in Nifty Bank:

• Aggressive traders can buy Nifty Bank in the 43,200-43,400 range with a strict stop loss at 43,000 for targets of 43,500, 43,625, 43,675, 43,750, 43,850, 43,900, 43,950 and 44,000

• Aggressive traders can sell Nifty Bank in the 43,875-44,000 range with a strict stop loss at 44,200 for targets of 43,800, 43,750, 43,675, 43,625, 43,525, 43,475, 43,400 and 43,325

F&O ban

• Out of ban: Delta Corp, Indiabulls Housing Finance
• New in ban: None
• Already in ban: None

Stock of the Day

Sell Page Industries in the cash market with a stop loss at Rs 41,500 for targets of Rs 38,700, Rs 38,100 and Rs 37,100

• Extremely weak Results
• Volumes down 15 per cent
• 10-15 per cent EPS cut by brokerages

RESULTS REVIEW

SAIL:

• Mixed results
• Slightly below estimates

Vodafone Idea:

• Mixed results
• Operating profit better than estimates
• ARPU slightly lower

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