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Anil Singhvi Market Strategy: Amid a fragile ceasefire between India and Pakistan, Zee Business Managing Editor Anil Singhvi expects support for the headline Nifty50 index at 24,850-24,975 levels and a strong buy zone at 24,675-24,775 levels on Friday, May 16. 

For the Nifty Bank, the market wizard expects support at 54,800-55,000 levels and a strong buy zone at 54,450-54,600 levels. 

Global: Positive

FII: Positive

DII: Neutral

F&O: Neutral

Sentiment: Positive

Trend: Positive

FII long positions at 46 per cent vs 38 per cent before Thursday's session

Nifty put-call ratio (PCR) at 1.19 vs 0.89

Nifty Bank PCR at 0.93 vs 0.82

Volatility index India VIX down 2 per cent at 16.89

The market wizard sees a higher zone at 25,135-25,235 levels and a profit-booking zone at 25,300-25,425 levels for the headline index.

For the banking index, he sees a higher zone at 55,475-55,675 levels and a strong sell zone at 55,925-56,075 levels. ​

Will FIIs continue to be net buyers for a third straight day?

After the breakout above 25,000, what's the next major target for Nifty50?

In sectoral rotation, which stocks will rise and which will fall?

For existing long positions: 

Nifty intraday and closing stop loss at 24,900

Nifty Bank intraday stop loss at 55,000 and closing stop loss at 54,800

For existing short positions:

Nifty intraday and closing stop loss at 25,150

Nifty Bank intraday and closing stop loss at 55,700

For new positions in Nifty50:

The best range to buy Nifty is 24,850-24,975 with a stop loss at 24,750 for targets of 25,050, 25,100, 25,135, 25,235, 25,300 and 25,335

Aggressive traders can sell Nifty in the 25,235-25,375 range with a strict stop loss at 25,500 for targets of 25,135, 25,075, 25,000, 24,950 and 24,850

For new positions in Nifty Bank:

Aggressive traders can buy Nifty Bank in the 54,800-55,000 range with a strict stop loss at 54,700 for targets of 55,100, 55,200, 55,350, 55,475, 55,575 and 55,650

Aggressive traders can sell Nifty Bank in the 55,575-55,700 range with a strict stop loss at 55,800 for targets of 55,375, 55,300, 55,200, 55,100, 55,000 and 54,900

Stocks in F&O ban

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