Anil Singhvi strategy May 12: Important levels to track in Nifty50, Nifty Bank

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi shares his strategy for the May 12 session on Dalal Street. Check out his take on the Indian share market, and key support and resistance levels for the Nifty and the Nifty Bank.

Zee Business Managing Editor Anil Singhvi sees support for Nifty50 coming in at 18,200-18,225 levels on May 12.

Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 benchmark at 18,200-18,225 levels and a strong buy zone at 18,100-18,150 levels on Friday, May 12. For the Nifty Bank — whose 12 constituents include HDFC Bank, SBI, and Axis Bank, he sees support emerging at 43,075-43,200 levels and a strong base at 42,825-43,000 levels.

Here's how Anil Singhvi sums up the market setup on May 12:

Global: Negative
FII: Positive
DII: Neutral
F&O: Neutral
Sentiment: Positive
Trend: Positive

For the Nifty50 index, Singhvi expects a higher zone at 18,300-18,350 levels and a strong sell zone at 18,375-18,450 levels. For the banking index, he sees a higher zone at 43,575-43,675 levels and a profit-booking zone at 43,725-43,850 levels.

TRENDING NOW

FII index longs at 47 per cent on Thursday vs 49 per cent the previous day
Nifty put-call ratio (PCR) at 1.25 Vs 1.11
Nifty Bank PCR at 1.06 Vs 0.91
Fear index India VIX up by 1 per cent at 13.22

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

Nifty intraday and closing stop loss at 18,200
Nifty Bank intraday and closing stop loss at 43,000

For existing short positions:

Nifty intraday and closing stop loss at 18,400
Nifty Bank intraday and closing stop loss at 43,800

For new positions in Nifty:

Buy Nifty in the range of 18,150-18,225 with a strict stop loss at 18,100 for targets of 18,265, 18,300, 18,325, 18,350, 18,400.
Sell Nifty in the 18,350-18,400 range with a stop loss at 18,450 for targets of 18,300, 18,275, 18,250, 18,225, 18,200.

For new positions in Nifty Bank:

Aggressive traders buy Bank Nifty in the range of 43,125-43,275 with a strict stop loss of 43,000 for targets 43,350, 43,475, 43,525, 43,575, 43,675, 43,750.
Aggressive traders can sell Nifty Bank in the 43,575-43,750 range with a strict stop loss at 43,800 for targets of 43,525, 43,475, 43,375, 43,325, 43,275, 43,200, 43,125.

F&O ban