Anil Singhvi’s Strategy April 23: Day support zone on Nifty is 14,250-14,300 & Bank Nifty is 31,200-31,400

Amid negative global markets, neutral foreign institutional investors (FIIs), futures & options (F&O), sentiment and positive domestic institutional investors (DIIs) cues, the short-term trend of the Indian stock markets will be neutral on Friday, April 23, 2021. 

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The Sensex and the Nifty on Thursday, April 22, 2021, closed with gains of more than half a per cent. The domestic stocks climbed amid the positive cues from global equity markets amid good corporate quarterly results. The Sensex ended above 48,000-mark while the Nifty surged to finish above 14,400-level.  

The Sensex rose 375 points, or 0.79 per cent, to finish at 48,081. The Nifty also appreciated 110 points, or 0.77 per cent, to settle at 14,406. The Bank Nifty index gained 669.90 points, or 2.15 per cent, to end at 31,782.60. 

The broader markets, however, underperformed at the bourses with the S&P BSE MidCap and SmallCap indices closing 0.28 per cent and 0.59 per cent higher, respectively. 

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for April 23: 

Day support zone on Nifty is 14,250-14,300, below that 14,150-14,200 is strong Buy zone.  

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

Day support zone on Bank Nifty is 31,200-31,400, below that 30,725-30,900 is strong Buy zone.  

Day higher zone on Bank Nifty is 32,000-32,200, above that 32,325-32,500 is strong Sell zone.  

Small Day Range for trading on Nifty is 14,300-14,450, while the medium and bigger day ranges are 14,250-14,500 and 14,200-14,575 Bigger, respectively  

Small Day Range for trading on Bank Nifty is 31,400-31,975, while the medium and bigger day ranges are 31,125-32,200 and 30,800-32,325.  

FIIs Index long at 66% Vs 62%. 

PCR at 1.37 Vs 1.08. 

India VIX up by 3% at 23.03. 

 
For Existing Long Positions: 

Nifty intraday and closing stop loss are 14,300. 

Bank Nifty intraday stop loss is 31,400 and closing stop loss is 31,100. 

For Existing Short Positions: 

Nifty intraday and closing stop loss are 14,500. 

Bank Nifty intraday and closing stop loss are 32,200. 

For New Positions:  

Buy Nifty in 14,150-14,200 range with a stop loss of 14,100 and target 14,250, 14,300, 14,350, 14,400. 

Aggressive Traders Buy Nifty in 14250-14300 range with a stop loss of 14,150 and target 14,350, 14,400, 14,450, 14,500, 14,525, 14,575.  

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, 14,250.   

Aggressive Traders Sell Nifty with strict Stop loss of 14,500 and target 14,350, 14,300, 14,250, 14,200, 14,150. 

For New Positions: 

Buy Bank Nifty in 30,700-30,900 range with a stop loss of 30,400 and target 31,125, 31,225, 31,400, 31,700, 31,775.  

Aggressive Traders Buy Bank Nifty in 31,000-31,200 range with strict stop loss 30,700 and target 31,400, 31,700, 31,775, 31,875, 31,975, 32,125.  

Sell Bank Nifty in 32,200-32,450 range with a stop loss of 32,600 and target 32,125, 32,000, 31,800, 31,700, 31,400, 31,225.  

Aggressive Traders Sell Bank Nifty in with strict stop loss 32000 and 31,400, 31,225, 31,125, 30,900, 30,800, 30,725, 30,575, 30,500. 

  
F&O Ban Update: 

New in Ban: Indiabulls Housing Finance.   

Already in Ban: SAIL, Sun TV 

Out of Ban: Nil