Anil Singhvi Market Strategy (May 12): Important levels to track in Nifty 50, Nifty Bank today amid Indo-Pak ceasefire

Anil Singhvi Market Strategy: With all eyes on scheduled talks at noon between the Indian and Pakistani DGMOs to review a fragile ceasefire, Zee Business Managing Editor Anil Singhvi expects support for the headline Nifty50 index at 24,150-24,275 levels and a strong buy zone at 23,950-24,075 levels on Monday, May 12. 

For the Nifty Bank, Singhvi expects support at 53,925-54,100 levels and a strong buy zone at 53,500-53,600 levels. 

Read on to learn more about the market wizard’s throughts on Dalal Street for the day.

How market guru Anil Singhvi sums up trade setup: 

• Global: Positive

• FII: Negative

• DII: Positive

• F&O: Positive

• Sentiment: Positive

• Trend: Positive

• FII long positions at 48 per cent vs 52 per cent before Friday’s session

• Nifty put-call ratio (PCR) at 0.94 vs 1.08

• Nifty Bank PCR at 0.77 vs 0.84

• Volatility index India VIX up 3.0 per cent at 21.63

   

The market wizard sees a higher zone at 24,425-24,575 levels and a profit-booking zone at 24,650-24,750 levels for the headline index.

For the banking index, he sees a higher zone at 54,375-54,600 levels and a profit-booking zone at 54,725-54,975 levels. 

Is fear of war out of way for Dalal Street?

• One can never trust a neighbour like Pakistan
• Everyone is well aware why Pakistan proposed ceasefire
• Ceasefire violations are factored in
• Dalal Street will fall only when there’s a war-like situation again
• A lesson learned with a pinch of salt: Indians should consider avoiding travel to Turkey and Azerbaijan

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

For existing long positions: 

For existing short positions:

For new positions in Nifty50:

• Buy Nifty: SL 24000 Tgt 24400, 24450, 24500, 24575, 24650, 24700, 24750

• Aggressive Traders Sell Nifty near 24600: Strict SL 24675 Tgt 24525, 24450, 24400, 24365, 24335, 24300

For new positions in Nifty Bank:

• Buy Bank Nifty: SL 53450 Tgt 54175, 54275, 54375, 54600, 54675, 54775, 54925

• Aggressive Traders Sell Bank Nifty in 54775-54975 range: Strict SL 55125 Tgt 54625, 54375, 54275, 54175, 54100, 53925

Stocks in F&O ban

• Already in ban: CDSL, Manppuram Finance, RBL Bank
• New in ban: None
• Out of ban: None

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