Anil Singh’s strategy May 18: Nifty support zone is 16075-16150, Bank Nifty

Among the positive global markets, Domestic Institutional Investors (DII) and Sentiment, Neutral Futures and Alternatives and Foreign Institutional Investors (FIIs), short term trend will be negative on Wednesday, May 18, 2022.

Meanwhile, tracking rebound in Asian markets and larger markets, benchmark indices rose more than 2.5 percent on Tuesday as the Nifty 50 closed above 16,250 and the Sensex rose more than 1,300 points. The 12-share Bank Nifty added more than 700 points, or more than 2%, to close at 34,300. With a gain of over 6%, Nifty Metal was the top gainer among the sectoral indices. Nifty oil and gas prices also rose 3.5% on the back of rally in the domestic market.

Anil Singhvi, Managing Editor, G Business, May 18 Market Strategy

Nifty Support Zone 16075-16150, Below 15900-16000 Strong Buy Zone
Nifty higher zone 16300-16350, above which 16400-16475 profit booking zone

Bank Nifty Support Zone 33800-34000, Below 33550-33675 Strong Buy Zone

Bank Nifty Higher Zone 34475-34600, above it 34900-35100 Profit Booking Zone

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

Nifty high levels 16300, 16350, 16400, 16475, 16500, 16600

Bank Nifty Support Levels 34150, 34000, 33900, 33825, 33675, 33600, 33550, 33300

Bank Nifty higher levels 34350, 34475, 34550, 34600, 34700, 34775, 34900, 34950

FII Index Long 30% vs. 29%

PCR changed to 1.12 vs. 0.73

India VIX down 7% at 22.74

For existing long term:

Nifty Intraday SL 15900 n End SL 15775

BankNifty Intraday SL 33900 n Completion SL 33500

For existing short positions:

Nifty Intraday SL 16300 n End SL 16425

BankNifty Intraday SL 34400 n Completion SL 34700

For new positions:

Buy Nifty in the range 16000-16150:

SL 15900 Tgt 16200, 16250, 16300, 16350, 16400, 16475

Sell ​​Nifty in the range 16400-16475:

SL 16600 Tgt 16350, 16300, 16250, 16200, 16175, 16150, 16075

For new positions:

Buy BankNifty in the range 33800-34000:

SL 33500 Tgt 34150, 34300, 34475, 34550, 34600, 34700, 34775, 34900

Sell ​​BankNifty in the range 34700-34900:

SL 35100 Tgt 34600, 34550, 34475, 34300, 34350, 34150, 34000, 33900

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