Anil Singhvi Market Strategy (May 16): Important levels to track in Nifty 50, Nifty Bank today amid Indo-Pak ceasefire

Anil Singhvi Market Strategy: Amid a fragile ceasefire between India and Pakistan, Zee Business Managing Editor Anil Singhvi expects support for the headline Nifty50 index at 24,850-24,975 levels and a strong buy zone at 24,675-24,775 levels on Friday, May 16. 

For the Nifty Bank, the market wizard expects support at 54,800-55,000 levels and a strong buy zone at 54,450-54,600 levels. 

How market guru Anil Singhvi sums up trade setup: 

• Global: Positive

• FII: Positive

• DII: Neutral

• F&O: Neutral

• Sentiment: Positive

• Trend: Positive

• FII long positions at 46 per cent vs 38 per cent before Thursday’s session

• Nifty put-call ratio (PCR) at 1.19 vs 0.89

• Nifty Bank PCR at 0.93 vs 0.82

• Volatility index India VIX down 2 per cent at 16.89

   

The market wizard sees a higher zone at 25,135-25,235 levels and a profit-booking zone at 25,300-25,425 levels for the headline index.

For the banking index, he sees a higher zone at 55,475-55,675 levels and a strong sell zone at 55,925-56,075 levels. 

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ANIL SINGHVI MARKET STRATEGY | How to trade Nifty Bank and Nifty50?

For existing long positions: 

For existing short positions:

For new positions in Nifty50:

• Best range to Buy Nifty is 24850-24975: SL 24750 Tgt 25050, 25100, 25135, 25235, 25300, 25335

• Aggressive Traders Sell Nifty in 25235-25375 range: Strict SL 25500 Tgt 25135, 25075, 25000, 24950, 24850

For new positions in Nifty Bank:

• Aggressive Traders Buy Bank Nifty in 54800-55000 range: Strict SL 54700 Tgt 55100, 55200, 55350, 55475, 55575, 55650

• Aggressive Traders Sell Bank Nifty in 55575-55700 range: Strict SL 55800 Tgt 55375, 55300, 55200, 55100, 55000, 54900

Stocks in F&O ban

• Already in ban: CDSL, Manppuram Finance, Hindustan Copper
• New in ban: None
• Out of ban: None

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