Anil Singhvi strategy May 29: Important levels to track in Nifty, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees a buy zone in the Nifty50 benchmark coming in at 18,450-18,500 levels on Monday, May 29. For the Nifty Bank, he sees support at 43,850-43,950 levels and a strong buy zone at 43,675-43,800 levels. 

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

• Global: Positive

• FII: Positive

• DII: Positive

• F&O: Neutral

• Sentiment: Positive

• Trend: Positive

For the 50-scrip headline index, he expects a higher zone at 18,650-18,700 levels and a profit-booking zone at 18,725-18,800 levels.​ For the banking index, he sees a higher zone at 44,150-44,200 levels, and expects any move sustaining above 44,200 to be followed by the next big target in the range of 44,500-45,000.   

• FII index longs higher at 62 per cent vs 58 per cent the previous day

• Nifty put-call ratio (PCR) higher at 1.37 vs 1.11

• Nifty Bank PCR at 1.18 vs 0.90

• Fear index India VIX down five per cent at 11.90

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

• Nifty intraday stop loss at 18,375 and closing stop loss at 18,275

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

For existing short positions:

• Nifty intraday and closing stop loss at 18,725

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

For new positions in Nifty:

• Buy Nifty with a stop loss at 18,375 for targets of 18,600, 18,650, 18,690, 18,725, 18,750 and 18,775

• Sell Nifty in the 18,690-18,775 range with a stop loss at 18,900 for targets of 18,660, 18,625, 18,600, 18,550 and 18,500

For new positions in Nifty Bank:

• Buy Nifty Bank with a stop loss at 43,650 for targets of 44,150, 44,200, 44,400 and 43,475

No stock in F&O ban

Stocks of the Day

Buy M&M futures with a stop loss at Rs 1,265 for targets of Rs 1,298, Rs 1,307 and Rs 1,320

• Strong management commentary post-results
• Big upgrades by brokerages

Sell Balkrishna futures with a stop loss at Rs 2,472 for targets of Rs 2,375, Rs 2,320 and Rs 2,275

• Results much below expectations
• Stock has shown a big run-up ahead of results

RESULTS REVIEW

STRONG

PFC

• Strong results on all parameters
• Stock already up 17 per cent in three months

Aurobindo Pharma

• After a long time, results better than expectations
• Stock has already risen 31 per cent in three months

WEAK

ONGC

• Extremely weak results on all parameters

BHEL

• Results much below estimates
• Management commentary positive
• Higher order inflow in five years

City Union Bank

• Another weak quarter
• NIMs decrease
• Management outlook not confident

JK Cement

• Mixed results
• Revenue and EBITDA better than estimates
• Profit falls 45 per cent

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