Anil Singhvi’s Strategy April 19: Day support zone on Nifty is 14,350-14,450 & Bank Nifty is 31,400-31,700

Amid positive global markets, foreign institutional investors (FIIs), domestic institutional investors (DIIs), neutral futures & options (F&O) and cautious sentiment cues, the short-term trend of the Indian stock markets will be neutral on Monday, April 19, 2021.

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Equity indices ended near the flat line amid volatile trade on Friday, April 16, 2021. The S&P BSE Sensex added 28.35 points, or 0.06 per cent, to finish at 48,832.03. The Nifty 50 climbed 36.40 points, or 0.25 per cent, to settle at 14,617.85. The Bank Nifty fell 135.40 points, or 0.42 per cent, to close at 31,977.45.  

In the broader markets, the S&P BSE MidCap closed 1.71 per cent higher and the SmallCap indices closed 1.05 per cent up.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for April 19:

Day support zone on Nifty is 14,350-14,450, below that 14,250-14,300 is a strong Buy zone.

Day higher zone on Nifty is 14,575-14,625, above that 14,700-14,775 is strong Profit-booking zone.

Day support zone on Bank Nifty is 31,400-31,700, below that 30,525-30,800 is a strong Buy zone.

Day higher zone on Bank Nifty is 31,975-32,150, above that 32,325-32,500 is strong Profit-booking zone.

Small Day Range for trading on Nifty is 14,450-14,575, while the medium and bigger ranges are 14,350-14,625 and 14,300-14,700, respectively.

Small Day Range for trading on Bank Nifty is 31,400-31,975, while the medium and bigger day ranges are 30,800-32,150 and 30,725-32.325, respectively. 

FIIs Index long at 61% Vs 63%.

PCR at 1.38 Vs 1.39.

India VIX 2% down at 20.40.

For Existing Long Positions:

Nifty intraday and closing stop loss are 14,500.

Bank Nifty intraday and closing stop loss are 31,700.

For Existing Short Positions:

Nifty intraday and closing stop loss are 14,700.

Bank Nifty intraday and closing stop loss are 32,500.

For New Positions:

Sell Nifty with a stop loss of 14,700 and target 14,500, 14,450, 14,375, 14,350, 14,325, 14,275, 14,250. 

Buy Nifty in 14,250-14,350 range with a stop loss 14,200 and target 14,400, 14,450, 14,500, 14,550.

For New Positions:

Sell Bank Nifty with a stop loss of 32,500 and target 31,775, 31,500, 31,400, 31,250, 31,000, 30,800, 30,725.

Buy Bank Nifty in 30,725-30,800 range with a stop loss of 30,500 and target 31,000, 31,200, 31,400, 31,500, 31,700.

F&O Ban Update:

New in Ban: Sun TV

Already in Ban: SAIL

Out of Ban: Nil

MacroTech Developers Listing Preview: Expected to list around IPO price of Rs 486. Long Term Investors can BUY at lower levels