Anil Singhvi’s Strategy April 12: Day support zone on Nifty is 14,675-14,700 & Bank Nifty is 32,000-32,150

Amid neutral global markets, domestic institutional investors (DIIs) futures & options (F&O), negative foreign institutional investors (FIIs) and cautious sentiment cues, the short-term trend of the Indian stock markets will be neutral on Monday, April 12, 2021.

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Domestic equity benchmarks ended with small losses after a volatile day on Friday, April 9, 2021. The S&P BSE Sensex declined 154.89 points or 0.31 per cent to close at 49,591.32. The Nifty 50 index lost 38.95 points or 0.26 per cent and settle at 14,834.85. The Bank Nifty fell 334.80 points or 1.02 per cent to 32,448.05. 

Trends in the broader markets were mixed as the S&P BSE SmallCap index closed 0.69 per cent higher while the S&P BSE MidCap index dipped 0.08 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for April 12:

Day support zone on Nifty is 14,675-14,700, below that 14,575-14,625 is a strong support zone. 

Day higher zone on Nifty is 14,825-14,875, above that 14,925-14,975 is strong Sell zone

Day support zone on Bank Nifty is 32,000-32,150, below that 31,125-31,300 is a strong support zone. 

Day higher zone on Bank Nifty is 32,500-32,675, above that 32,775-32,975 is strong Sell zone. 

The small day range for trading on Nifty is 14,700-14,875, while the medium and bigger day ranges are 14,650-14,925 and 14,600-14,975, respectively. 

The small day range for trading on Bank Nifty is 32,000-32,675, while the medium and bigger day ranges are 31,700-32,775 and 31,300-32,975, respectively. 

FIIs Index long at 58% Vs 61%.

PCR at 1.29 Vs 1.41.

India VIX 3% down at 19.79.

For Existing Long Positions:

Nifty intraday and closing stop loss are 14,775.

Bank Nifty intraday and closing stop loss are 32,300.

For Existing Short Positions:

Nifty intraday and closing stop loss are 14,925.

Bank Nifty intraday and closing stop loss are 32,700

For New Positions:

Sell Nifty with a stop loss of 14,925 and target 14,700, 14,650, 14,625, 14,575. 

Buy Nifty in 14,550-14,625 range with a stop loss of 14,450 and target 14,675, 14,725, 14,775, 14,815.

For New Positions:

Sell Bank Nifty with a stop loss of 32,700 and target 32,350, 32,150, 32,025, 31,725, 31,500, 31,300.

Buy Bank Nifty in 31,125-31,300 range with a stop loss of 31,000 and target 31,500, 31,700, 31,975, 32,150.

F&O Ban Update:

Out of Ban: Nil

Already in Ban: SAIL 

New in Ban: Nil