Anil Singh’s strategy May 17: Nifty support zone is 15740-15800, Bank Nifty

Between neutral global markets and futures and options (F&O), neutral foreign institutional investors (FIIs), positive domestic institutional investors (DIIs), and neutral sentiment, the short-term trend of the Indian stock market will be negative on Monday, May 17, 2022.

Markets closed the six-day downward trend green on Monday amid neutral global signals as both the Sensex and Nifty 50 fell nearly 0.4 percent. Beyond the benchmarks, the Nifty mid-cap and short-cap closed up nearly 1 percent. Among sectoral indicators, Nifty PSU Bank rose nearly 3 percent, followed by Real by more than 2.5 percent and Auto by more than 2 percent.

G Business Managing Editor Anil Singh’s May 16 Market Strategy

Nifty Support Zone 15740-15800, Below 15550-15675 Strong Buy Zone

Nifty higher zone 15975-16075, above which 16150-16200 profit booking zone

Bank Nifty Support Zone 33125-33300, Below 32875-33000 Strong Buy Zone

Bank Nifty Higher Zone 33800-34000, above 34150-34350 Profit Booking Zone

Nifty support levels 15800, 15750, 15675, 15625, 15550

Nifty higher levels 15900, 15975, 16000, 16075, 16150, 16175, 16200

Bank Nifty Support Levels 33525, 33400, 33300, 33125, 33000, 32875

Bank Nifty higher levels 33800, 33900, 34000, 34150, 34275, 34350

FII index long 29% vs. 24%

PCR remained unchanged at 0.73, near the sell-off level

India VIX rose 4% to 24.53

For existing long term:

Nifty Intraday N Closing SL 15650

BankNifty Intraday n Closing SL 32850

For existing short positions:

Nifty Intraday SL 16100 n End SL 16200

BankNifty Intraday SL 34050 n End SL 34300

For new positions:

Buy Nifty: SL 15725 Tgt 15900, 15950, 15975, 16000, 16075, 16150, 16175, 16200

Sell ​​Nifty in the range 16075-16175: SL 16300 Tgt 16000, 15975, 15900, 15850, 15800, 15750

For new positions:

Buy BankNifty in the range 33125-33300: SL 32950 Tgt 33400, 33525, 33600, 33800, 33900, 34000, 34150, 34275

Sell ​​BankNifty in the range 34000-34150: SL 34300 Tgt 33900, 33825, 33600, 33525, 33300, 33125, 33000

F&O Prohibition Update:

Already banned: GNFC, PNB, IB Housing Finance 7

New to the ban: Zero

Out of prohibition: Zero

LIC list preview:

The 920-935 range is expected to be listed below the issue price of 949

Short-term investors keep their spending staples

Paradip Phosphates IPO Preview:

Apply for the long term

Positive:

Companies with good financial track record and profit making

Possibility of strong growth

Reasonable assessment

Negative:

Dependent on import of raw materials

Dependence on government policy and subsidies