Anil Singhvi’s Strategy April 3: Sell SBI Future at 187-195 with stop loss 200

Anil Singhvi’s Strategy April 3: Amid positive domestic institutional investors (DIIs), neutral foreign institutional investors (FIIs), futures & options (F&O) and negative global markets and sentiment cues, the short-term trend of the Indian stock markets will be negative on Friday, April 3, 2020.

At the stock markets, the Sensex at the Bombay Stock exchange plummeted 1,203.18 points, or 4.08 per cent, to 28,265.31 on Wednesday, April 1, 2020. The Nifty at the National Stock Exchange tanked 343.95 points, or 4 per cent, to end at 8,253.80, while Bank Nifty lost 933.65 points, or 4.92 per cent and closed at 18,208.35. Rising coronavirus numbers across the globe exerted downside pressure on equities.

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Zee Business's Managing Editor Anil Singhvi's Market Strategy for April 3:

Next support zone on Nifty is 7,500-7,700, 7,850-8,050 and Bank Nifty is 16,900-17,100, 17,800-18,000.

Strong sell zone on Nifty is 8,500-8,650 and Bank Nifty is 18,400-18,800. 

The small day range for trading on Nifty is 8,150-8,350, while medium and bigger ranges are 8,050-8,500 and 7,850-8,650 respectively.

The small day range for trading on Bank Nifty is 17,900-18,400, while medium and bigger ranges are 17,500-18,500 and 17,100-18,800 respectively.

For Existing Long Positions:

Nifty intraday stop loss 8,000 and closing stop loss 8,250.

Bank Nifty intraday stop loss 17,800 and closing stop loss 18,200.

For Existing Short Positions:

Nifty intraday stop loss 8,350 and closing stop loss 8,600.

Bank Nifty intraday stop loss 18,500 and closing stop loss 18,800.

For New Positions:

Sell Nifty in 8,375-8,575 range with a stop loss 8,700 and target 8,250, 8,050, 8,000, 7,850.

Buy Nifty in 8,000-8,050 range - for the aggressive traders with strict stop loss, only intraday – with stop loss 7,950 and target 8,200, 8,250, 8,300. 

Sell Bank Nifty in 18,400-18,800 range with a stop loss of 19,000 and target 18,200, 18,050, 17,850, 17,500.

Put-Call Ratio (PCR) High 1.25, Volatility Index (VIX) down 7% to 60.05.

No stocks in F&O Ban

Stock of the Day

Sell SBI Future at 187-195 with stop loss 200 and target 180-175.