Amid positive global markets, domestic institutional investors (DIIs), future & options (F&O), negative foreign institutional investors (FIIs), and neutral sentiment cues, the short-term trend of the Indian stock markets will be neutral on Thursday, April 21, 2022.

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Indian stock markets surged more than one per cent on Wednesday, April 20, 2022, amid positive cues from global share markets. The Sensex at Bombay Stock Exchange closed above the 57,000 mark while the Nifty at National Stock Exchange settled above the 17,100 level. The Sensex climbed 574.35 points, or 1.02 per cent, to finish at 57,037.50. The Nifty also surged 177.90 points, or 1.05 per cent, to settle at 17,136.55. In the sectoral indices, the Bank Nifty index declined 26.70 points, or 0,07 per cent, to end at 36,314.90.

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In the broader market, the S&P BSE MidCap index gained 0.45 per cent while the S&P BSE SmallCap index added 0.36 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for April 21:

Nifty support zone is 16,975-17,075, below that 16,825-16,950 is a strong Buy zone.

Nifty higher zone is 17,200-17,275, above that 17,325-17,400 is a profit booking zone.

Bank Nifty support zone is 35,925-36,125, Below that 35425-35525 is a strong Buy zone.

Bank Nifty higher zone is 36,500-36,725, above that 36,800-36,950 is a Profit booking zone.

Nifty support levels are 17,075, 17,000, 16,975, 16,950, 16,875, 16,825.

Nifty higher levels are 17,175, 17,250, 17,275, 17,325, 17,350, 17,400, 17,450, 17,475.

Bank Nifty support levels are 36,125, 36,025, 35,925, 35,850, 35,725, 35,525, 35,425.

Bank Nifty higher levels are 36,425, 36,500, 36,600, 36,725, 36,800, 36,900, 36,950, 37,125.

FIIs Index Long position is unchanged at 50%.

PCR light and comfortable at 0.83 vs 0.68.

India VIX is down by 6% at 18.67.

For Existing Long Positions:

Nifty Intraday and Closing stop loss are 16950.

Bank Nifty Intraday and Closing stop loss are 35,900.

For Existing Short Positions:

Nifty Intraday and Closing stop loss are 17,275.

Bank Nifty Intraday and Closing stop loss are 36,750.

For New Positions:

Buy Nifty with a stop loss of 17,050 and target 17,175, 17,250, 17,275, 17,325, 17,350, 17,400.

Sell Nifty in 17,275-17,350 range with a stop loss of 17,500 and target 17,250, 17,200, 17,175, 17,125, 17,075, 17,000, 16,975.

For New Positions:

Buy Bank Nifty with a stop loss of 35,900 and target 36,425, 36,500, 36,600, 36,725, 36,800, 36,900, 36,950, 37,125.

Sell Bank Nifty in 36,800-36,975 range with a stop loss of 37,150 and target 36,725, 36,650, 36,525, 36,450, 36,350, 36,125, 36,025, 35,975.

F&O Ban Update:

Already In Ban: Tata power

Out Of Ban: Nil

New In Ban: Nil