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Anil Singhvi Market Strategy: Amid a fragile ceasefire between India and Pakistan agreed upon by both sides on Pakistan's request, Zee Business Managing Editor Anil Singhvi expects support for the headline Nifty50 index at 24,400-24,500 levels and a stronger support zone at 24,275-24,375 levels on Wednesday, May 14. 

For the Nifty Bank, the market wizard expects support at 54,550-54,675 levels and a stronger support zone at 54,175-54,375 levels. 

Global: Neutral

FII: Negative

DII: Positive

F&O: Neutral

Sentiment: Cautious

Trend: Positive

FII long positions at 38 per cent vs 50 per cent before Tuesday's session

Nifty put-call ratio (PCR) at 0.85 vs 1.29

Nifty Bank PCR at 0.83 vs 0.90

Volatility index India VIX down 1 per cent at 18.20

The market wizard sees a higher zone at 24,650-24,750 levels and a strong sell zone at 24,800-24,925 levels for the headline index.

For the banking index, he sees a higher zone at 55,300-55,475 levels and a profit-booking zone at 55,575-55,700 levels. 

For existing long positions: 

Nifty Intraday n Closing SL 24450

Bank Nifty Intraday n Closing SL 54500

For existing short positions:

Nifty Intraday SL 24700 n Closing SL 24925

Bank Nifty Intraday SL 55500 n Closing SL 55650

For new positions in Nifty50:

Best range to Buy Nifty is 24350-24500: SL 24250 Tgt 24575, 24650, 24700, 24750, 24850, 24925

Best range to Sell Nifty is 24750-24900: SL 25000 Tgt 24650, 24600, 24550, 24500, 24450, 24400

For new positions in Nifty Bank:

Aggressive Traders Buy Bank Nifty in 54550-54675 range: Strict SL 54350 Tgt 54875, 54950, 55075, 55175, 55375, 55475

Aggressive Traders Sell Bank Nifty in 55450-55650 range: Strict SL 55750 Tgt 55375, 55300, 55175, 55100, 55000, 54925

Stocks in F&O ban

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