Anil Singhvi strategy May 17: Important levels to track in Nifty 50, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi shares his strategy for the May 17 session. Check out his take on key support and resistance levels for the Nifty and the Nifty Bank, and how he views the market.

Zee Business Managing Editor Anil Singhvi sees support for Nifty50 coming in at 18,200-18,265 levels on May 17.

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 benchmark emerging at 18,200-18,265 levels on Wednesday, May 17, and a strong buy zone at 18,065-18,150 levels. For the Nifty Bank, he sees support coming in at 43,525-43,675 levels and a strong buy zone at 43,200-43,375 levels.

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

Global: Negative
FII: Positive

TRENDING NOW
DII: Negative
F&O: Neutral
Sentiment: Neutral
Trend: Positive

For the 50-scrip headline index, he expects a higher zone at 18,315-18,345 levels and a profit-booking zone at 18,400-18,450 levels. For the banking index, he sees a higher zone at 44,000-44,150 levels, and the next big range after the 44,200 mark at 44,400-44,500 levels.

FII index longs at 49 per cent on Wednesday vs 50 per cent the previous day
Nifty put-call ratio (PCR) at 0.90 vs 1.35
Nifty Bank PCR at 1.05 vs 1.42
Fear index India VIX up one per cent at 13.29

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

Nifty intraday stop loss at 18,175 and closing stop loss at 18,250
Nifty Bank intraday stop loss at 43,650 and closing stop loss at 43,475

For existing short positions:

Nifty intraday and closing stop loss at 18,450
Nifty Bank intraday and closing stop loss at 44,200

For new positions in Nifty:

Buy Nifty in the 18,200-18,265 range with a stop loss at 18,100 for targets of 18,285, 18,315, 18,340, 18,375, 18,400 and 18,425
Sell Nifty in the 18,375-18,450 range with a stop loss at 18,500 for targets of 18,340, 18,315, 18,285, 18,265, 18,225 and 18,200

For new positions in Nifty Bank:

Buy Nifty Bank in the 43,200-43,375 range with a stop loss at 43,000 for targets of 43,475, 43,575, 43,675, 43,750 and 43,800
Aggressive traders can buy Nifty Bank in the 43,525-43,675 range with a strict stop loss at 43,400 for targets of 43,750, 43,800, 43,900, 44,000, 44,075 and 44,150
Aggressive traders can sell Nifty Bank in the 44,000-44,150 range with a strict stop loss at 44,200 for targets of 43,900, 43,825, 43,750, 43,675, 43,575 and 43,525

F&O ban

New in ban: Balrampur Chini, Manappuram Finance
Out of ban: BHEL
Already in ban: Delta Corp, GNFC, PNB

RESULTS REVIEW

Bharti Airtel:

Results as per expectations
Revenue and margins in line with estimates, slight miss on ARPU front
Strong free cash flow at Rs 4,300 crore

JSPL:

Very weak performance
Revenue, operating profit, margin and profit much below estimates
Weak management commentary for next year

LIC Housing:

Mixed results
NIM at a multi-year high
Improvement in credit cost and asset quality
Disbursement growth slightly weak
Stock rose 3.5 per cent in a weak market on Tuesday

Metropolis:

Weak results on all parameters and below expectations
Stock can fall more after declining two per cent on Tuesday

Oberoi Realty:

Results fine on a year-on-year basis but very weak on all parameters on a quarter-on-quarter basis

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Anil Singhvi strategy May 17: Important levels to track in Nifty 50, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi shares his strategy for the May 17 session. Check out his take on key support and resistance levels for the Nifty and the Nifty Bank, and how he views the market.

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

TRENDING NOW

ANIL SINGHVI MARKET STRATEGY