Anil Singhvi’s Strategy April 20: Day support zone on Nifty is 14,175-14,250 & Bank Nifty is 30,725-30,800

Amid neutral global markets, futures & options (F&O), negative foreign institutional investors (FIIs), positive domestic institutional investors (DIIs) and cautious sentiment cues, the short-term trend of the Indian stock markets will be neutral on Tuesday, April 20, 2021.

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Indian equity markets nosedived on Monday, April 19, 2021, amid the resurgence of the second wave of COVID-19 pandemic in the country. The domestic stocks declined even as the cues from global equity markets were positive. The S&P BSE Sensex closed below 48,000-mark while the Nifty at National Stock ended below 14,400-level. The Sensex tumbled 883 points, or 1.81 per cent, close at 47,949. The Nifty 50 also fell 258 points, or 1.77 per cent, to settle at 14,359. The Bank Nifty lost 760 points or 2.40 per cent to 31,208.

In the broader markets, the S&P BSE MidCap and SmallCap indices trading with a fall of 1.93 per cent and 1.64 per cent, respectively. 

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for April 20:

Day support zone on Nifty is 14,175-14,250, below that 14,000-14,075 is a strong Buy zone. 

Day higher zone on Nifty is 14,400-14,450, above that 14,500-14,575 is strong Profit-booking zone. 

Day support zone on Bank Nifty is 30,725-30,800, below that 30,250-30,500 is a strong Buy zone.

Day higher zone on Bank Nifty is 31,675-31,775, above that 32,000-32,150 is strong Profit-booking zone.

The small day range for trading on Nifty is 14,300-14,400, while the medium and bigger day ranges are 14,250-14,450 and 14,200-14,500. 

The small day range for trading on Bank Nifty is 30,800-31,400, while the medium and bigger day ranges are 30,500-31,675 and 30,400-31,775.

FIIs Index long at 60% Vs 61%

PCR at 1.20 Vs 1.38

India VIX 10% up at 22.49

For Existing Long Positions:

Nifty intraday stop loss is 14,175 and the closing stop loss is 14,300.

Bank Nifty intraday stop loss is 30,950 and the closing stop loss is 30,750.

For Existing Short Positions:

Nifty intraday stop loss is 14,400 and the closing stop loss is 14,500.

Bank Nifty intraday stop loss is 31,400 and the closing stop loss is 31,800.

For New Positions:

Buy Nifty in 14,200-14,275 range with a stop loss of 14,150 and target 14,300, 14,350, 14,375, 14,450, 14,500. 

Aggressive Traders Buy Nifty with strict Stop loss of 14,275 and target 14,400, 14,450, 14,500, 14,550, 14,575, 14,600. 

Sell Nifty in 14,475-14,550 range with a stop loss of 14,600 and target 14,450, 14,400, 14,350, 14,300.

For New Positions:

Buy Bank Nifty in 30,500-30,800 range with a stop loss of 30,250 and target 31,000, 31,200, 31,400, 31,675, 31,775. 

Sell Bank Nifty in 31,775-32,000 range with a stop loss of 32,200 and target 31,400, 31,300, 31,200, 31,000, 30,800.

F&O Ban Update:

New in Ban: Nil

Already in Ban: SAIL, Sun TV

Out of Ban: Nil