Amid neutral global markets, negative foreign institutional investors (FIIs), positive domestic institutional investors (DIIs, futures & options (F&O) and cautious sentiment cues, the short-term trend of the Indian stock markets will be neutral on Thursday, April 22, 2021.

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Domestic equity markets on Tuesday, April 20, 2021, closed with losses of around half a per cent. The headline indices declined amid the negative cues from global equity markets as the resurgence of the Coronavirus cases worldwide and fresh restriction to check its spread dented the sentiment of investors. 

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The S&P BSE Sensex fell 243.62 points or 0.51 per cent to 47,705.80. The Nifty 50 index lost 63.05 points or 0.44 per cent and closed at 14,296.40. The Bank Nifty fell 95.70 points or 0.31 per cent to 31,112.70. 

The broader markets, however, supported the overall market breadth. The S&P BSE Midcap and SmallCap closed with gains of 0.49 per cent each. 

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for April 22:

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

Day higher zone on Nifty is 14,350-14,375, above that 14,500-14,575 is strong Profit-booking zone.

Day support zone on Bank Nifty is 30,725-30,800, below that 30,400-30,500 is a strong Buy zone.

Day higher zone on Bank Nifty is 31,400-31,700, above that 31,775-31,875 is strong Profit-booking zone.

The small Day Range for trading on Nifty is 14,250-14,350, while the medium and bigger day ranges are 14,175-14,375 and 14,075-14,500, respectively.

The Small Day Range for trading on Bank Nifty is 30,800-31,400, while the medium and bigger day ranges are 30,500-31,700 and 30,400-31,775, respectively. 

 

FIIs Index long at 62% Vs 60%

PCR light at 1.08 Vs 1.20. 

India VIX unchanged at 22.43. 

For Existing Long Positions:

Nifty intraday and closing stop loss are 14,175.

Bank Nifty intraday stop loss is 30,850 and the closing stop loss is 30,750.

For Existing Short Positions:

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

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

For New Positions: 

Buy Nifty in 14000-14075 range with a stop loss of 13,900 and target 14,175, 14,200, 14,250, 14,300. 

Aggressive traders Buy Nifty in 14,175-14,250 range with a stop loss of 14,150 and target 14,300, 14,350, 14,375, 14,450, 14,500, 14,525. 

Sell Nifty in 14,500-14,525 range with a stop loss of 14,600 and target 14,450, 14,375, 14,350, 14,300. 

Aggressive traders Sell Nifty with strict stop loss of 14,400 and target 14,250, 14,200, 14,175, 14,100, 14,075.

 

For New Positions:

Buy Bank Nifty in 30,400-30,500 range with a stop loss of 30,250 and target 30,700, 30,775, 30,875, 31,000, 31,100, 31,200, 31,300.

Aggressive Traders Buy Bank Nifty in 30,725-30,900 range with strict stop loss of 30,675 and target 31,100, 31,200, 31,300, 31,400, 31,700, 31,775.

Sell Bank Nifty in 31,700-31,775 range with a stop loss of 31,900 and target 31,425, 31,225, 31,125, 31,025. 

Aggressive Traders Sell Bank Nifty in 31,300-31,400 range with strict stop loss of 31,500 and target 31,225, 31,125, 30,900, 30,800, 30,725, 30,525, 30,425.  

F&O Ban Update:

New in Ban: Nil

Already in Ban: SAIL, Sun TV

Out of Ban: Nil