Anil Singhvi strategy May 19: 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 19 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 a buy zone for Nifty50 emerging at 17,925-18,000 levels on May 19.

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 benchmark at 18,050-18,100 levels on Friday, May 19, and a strong buy zone at 17,925-18,000 levels. For the Nifty Bank, he sees support coming in at 43,475-43,675 levels and a strong buy zone at 43,200-43,375 levels.

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

Global: Positive
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 18,175-18,225 levels and a profit-booking zone at 18,265-18,315 levels. For the banking index, he sees a higher zone at 43,900-44,000 levels, and a profit-booking zone at 44,075-44,150 levels.

FII index longs at 49 per cent on Friday vs 47 per cent the previous day
Nifty put-call ratio (PCR) at 0.93 vs 0.83
Nifty Bank PCR at 1.01 vs 0.83
Fear index India VIX down 2.5 per cent at 12.80

ANIL SINGHVI MARKET STRATEGY

The market wizard expects strong support at 17,900-18,000 levels for the Nifty and at 43,000-43,200 levels for the Nifty Bank. One can expect midcap and smallcap stocks to strengthen, which will create opportunities to buy, he says.

For existing long positions:

Nifty intraday and closing stop loss at 17,975
Nifty Bank intraday and closing stop loss at 43,450

For existing short positions:

Nifty intraday and closing stop loss at 18,325
Nifty Bank intraday and closing stop loss at 44,150

For new positions in Nifty:

Buy Nifty with a stop loss at 17,975 for targets of 18,175, 18,215, 18,265, 18,285, 18,315 and 18,340
Sell Nifty in the 18,265-18,315 range with a stop loss at 18,400 for targets of 18,225, 18,200, 18,175, 18,125 and 18,100

For new positions in Nifty Bank:

Buy Nifty Bank in the 43,300-43,475 range with a stop loss at 43,100 for targets of 43,575, 43,675, 43,750, 43,800 and 43,900
Aggressive traders can buy Nifty Bank with a strict stop loss at 43,450 for targets of 43,800, 43,900, 44,000, 44,075 and 44,150
Aggressive traders 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, 43,700, 43,575 and 43,500

F&O ban