Anil Singhvi’s Strategy April 1: Day support zone on Nifty is 14,675-14,725 & Bank Nifty is 33,000-33,150

Amid neutral global markets, sentiment, negative foreign institutional investors (FIIs), positive domestic institutional investors (DIIs) and futures & options (F&O) cues, the short-term trend of the Indian stock markets will be neutral on Thursday, April 1, 2021.

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The domestic stocks markets on Wednesday, March 31, 2021, fell more than 1 per cent amid weakness in the global stocks. The S&P BSE Sensex gave up 50,000-mark and the Nifty 50 fell below the 14,700-level. The Sensex declined 627.43 points, or 1.25 per cent, to trade at 49,509.15 The Nifty 50 at National Stock Exchange also slipped 154.40 points, 1.04 per cent, and settled at 14,690.70. Bank Nifty lost 571.20 points, or 1.69 per cent, to close at 33,303.90. 

The broader indices outperformed the Sensex. The BSE Mid-Cap gained 0.07 per cent and the Small-Cap gained 0.52 per cent. 

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for April 1:

Day support zone on Nifty is 14,675-14,725, below that 14,525-14,575 is a strong Buy zone. 

Day higher zone Nifty 14,750-14,800, above that 14,850-14,925 is strong Sell zone.

Day support zone on Bank Nifty is 33,000-33,150, below that 32,575-32,850 is a strong support zone. 

Day higher zone on Bank Nifty is 33,550-33,625, above that 33,850-33,975 is strong Sell zone.

The small day range for trading on Nifty is 14,675-14,750, while the small and medium day ranges are 14,625-14,800 and 14,550-14,875, respectively.

The small day range for trading on Bank Nifty is 33,000-33,550, while the small and medium day ranges are 32,850-33,850 and 32,575-33,975, respectively. 

FIIs Index long at 60%.

PCR light at 1.10 Vs 1.32.

India VIX unchanged at 20.65.

For Existing Long Positions:

Nifty intraday and closing stop loss are 14,650.

Bank Nifty intraday and closing stop loss are 33,000.

For Existing Short Positions:

Nifty intraday and closing stop loss are 14,875.

Bank Nifty intraday stop loss is 33,650 and closing stop loss is 33,875.

For New Positions:  

Buy Nifty with a stop loss of 14,650 and target 14,750, 14,810, 14,845, 14,875, 14,925. 

Sell Nifty in 14,850-14,925 range with a stop loss of 15,000 and target 14,800, 14,765, 14,735, 14,700, 14,675. 

For New Positions:

Buy Bank Nifty with a stop loss of 33,000 and target 33,550, 33,625, 33,750, 33,850, 33,975.

Sell Bank Nifty in 33,850-33,975 range with a stop loss of 34,200 and target 33,775, 33,650, 33,575, 33,500, 33,425, 33,375.

F&O Ban Update:

Out Of Ban: NIL

Already In Ban: SAIL

New In Ban: NIL

Stock of the Year:

Buy ITC: Target 250, 275, 300. Buy on every Dip. Strong operational performance. Value unlocking expected.