Anil Singhvi’s Strategy April 12: Support Zone on Nifty is 17,475-17,550 & Bank Nifty is 37,350-37,400

Amid negative global markets, foreign institutional investors (FIIs), positive domestic institutional investors (DIIs), neutral future & options (F&O) and cautious sentiment cues, the short-term trend of the Indian stock markets will be positive on Tuesday, April 12, 2022.

In the Indian stock markets, the S&P BSE Sensex and the Nifty 50, on Monday, April 11, 2022, fell more than half a per cent. Both stock indices declined amid negative cues from global share markets. The BSE Sensex closed below the 59,000 mark while the NSE Nifty ended below the 17,700 level.

See Zee Business Live TV Streaming Below:

The Sensex plunged 483.61 points, or 0.81 per cent, to finish at 58,964.57. The Nifty also tumbled 109.40 points, or 0.62 per cent, to settle at 17,674.95. In sectoral indices, the Bank Nifty gained 138.25 points, or 0.37 per cent, to close at 37,613.80.

The broader markets outperformed the Sensex as the S&P BSE MidCap and S&P BSE SmallCap added 0.41 per cent and 0.38 per cent, respectively.

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

Nifty support zone is 17,475-17,550, Below that 17,350-17,425 is a strong support zone.

Nifty higher zone is 17,775-17,850, Above that 17,950-18,050 is a strong Sell zone.

Bank Nifty support zone is 37,350-37,400, Below that 36,825-36,925 is a strong support zone.

Bank Nifty higher zone is 37,750-37,875, Above that 37,950-38,075 is a strong Sell zone.

Nifty support levels are 17,650, 17,625, 17,600, 17,550, 17,500, 17,475, 17,425, 17,375.

Nifty higher levels are 17,675, 17,775, 17,800, 17,850, 17,900, 17,950.

Bank Nifty support levels are 37,525, 37,400, 37,350, 37,150, 37,050, 36,925, 36,825, 36,650, 36,425.

Bank Nifty higher levels are 37,625, 37,750, 37,875, 37,950, 38,075.

FIIs Index Long position at 61% Vs 69%.

PCR at 0.86 Vs 1.01.

India VIX is up by 3% at 18.27.

For Existing Long Positions:

Nifty Intraday and Closing stop loss are 17,600.

Bank Nifty Intraday stop loss is 37,300 and Closing stop loss is 37,150.

For Existing Short Positions:

Nifty Intraday and Closing stop loss are 17,850.

Bank Nifty Intraday and Closing stop loss are 38,075.

For New Positions:

Sell Nifty with a stop loss of 17,800 and target 17,600, 17,550, 17,500, 17,475, 17,425, 17,375.

Buy Nifty in 17,400-17,500 range with a stop loss of 17,350 and target 17,550, 17,600, 17,625, 17,650, 17,675, 17,775.

For New Positions:

Sell Bank Nifty with a stop loss of 38,000 and target 37,400, 37,350, 37,150, 37,050, 36,925, 36,825.

Buy Bank Nifty in 36,925-37,150 range with a stop loss of 36,800 and target 37,350, 37,400, 37,500, 37,625, 37,750, 37,875, 37,950.

F&O Ban Update:

New In Ban: Delta Corp

Already In Ban: RBL Bank

Out Of Ban: Nil