Anil Singhvi’s Strategy April 13: Day support zone on Nifty is 14,200-14,250 & Bank Nifty is 30,350-30,550

Anil Singhvi’s Strategy April 13: Amid neutral global markets, domestic institutional investors (DIIs), negative foreign institutional investors (FIIs), positive futures & options (F&O), and negative sentiment cues, the short-term trend of the Indian stock markets will be negative on Tuesday, April 13, 2021.

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Domestic equity markets plunged around three and a half per cent on Monday, April 12, 2021. The domestic stocks tumbled in sync with losses in the global equity markets amid a resurgence of COVID-19 infections. The Sensex at Bombay Stock Exchange fell below 48,000- mark while the Nifty at National Stock Exchange slipped to trade near 14,300-level.

The Sensex plunged 1,708 points, or 3.44 per cent, to trade at 47,883 and the Nifty declined 524 points, or 3.53 per cent, to trade at 14,311. Nifty 50 cracked 524 points or 3.53 per cent to hit 14,311. The Bank Nifty index also lost 1,656.05 points or 5.10 per cent to settle at 390,792.  

The broader markets at BSE fell more than the Sensex. The Mid-Cap Index tumbled 5.32 per cent while the Small-Cap declined 4.81 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for April 13:

Day support zone on Nifty is 14,200-14,250, below that 14,000-14,050 is strong Buy zone.

Day higher zone on Nifty is 14,375-14,450, above that 14,500-14,575 is strong Profit-booking zone

Day support zone on Bank Nifty is 30,350-30,550, below that 30,050-30,250 is a strong support zone.

Day higher zone on Bank Nifty is 31,100-31,300, above that 31,500-31,700 is strong Profit-booking zone.

Small Day Range for trading on Nifty is 14,250-14,375, while the medium and bigger day ranges are 14,200-14,450 and 14,050-14,500, respectively. 

Small Day Range for trading on Bank Nifty is 30,500-31,100, while the medium and bigger day ranges are 30,250-31,300 and 30,050-31,500, respectively. 

Big reduction in FIIs Index long at 50% Vs 58%

PCR oversold at 0.88 Vs 1.29, Big short covering expected

India VIX 16% up at 23

For Existing Long Positions:

Nifty intraday and closing stop loss are 14,200.

Bank Nifty intraday and closing stop loss are 30,500.

For Existing Short Positions:

Nifty intraday stop loss is 14,400 and the closing stop loss is 14,550.

Bank Nifty intraday stop loss is 31,300 and the closing stop loss is 31,700.

For New Positions:

Buy Nifty with a stop loss of 14,200 and target 14,350, 14,375, 14,450, 14,500, 14,550.

Sell Nifty in 14,500-14,550 range with a stop loss of 14,600 and target 14,450, 14,375, 14,325.

For New Positions:

Buy Bank Nifty in 30,250-30,350 range with a stop loss of 30,000 and target 30,500, 30,775, 30,975, 31,100, 31,200, 31,300. 

Aggressive Traders Buy Bank Nifty with a stop loss of 30,500 and target 31,000, 31,125, 31,200, 31,300, 31,465, 31,675. 

Sell Bank Nifty in 31,300-31,700 range with a stop loss of 32,000 and target 31,300, 31,200, 31,125, 31,025, 30,800.

F&O Ban Update:

Out of Ban: Nil

Already in Ban: SAIL 

New in Ban: Nil