Anil Singhvi’s Strategy April 25: Support zone on Nifty is 16,950-17,000 & Bank Nifty is 35,425-35,525

Amid negative global markets, foreign institutional investors (FIIs), positive domestic institutional investors (DIIs), neutral future & options (F&O) and negative sentiment cues, the short-term trend of the Indian stock markets will be neutral on Monday, April 25, 2022.

Indian stock markets on Friday, April 22, 202, plunged more than one per cent. Domestic stock indices declined amid weak cues from global share markets. The BSE Sensex closed below 57,200 points while the Nifty at National Stock Exchange ended below the 17,200 level.

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The Sensex lost 714.53 points, or 1.23 per cent, to finish at 57,197.15. The Nifty also tumbled 220.65 points, or 1.27 per cent, to settle at 17,171.95. In sectoral indices, the Bank Nifty index fell 771.35 points, or 2.10 per cent, to 36,044.75.

In the broader market, the S&P BSE MidCap index slipped 0.71 per cent while the S&P BSE SmallCap index fell 0.38 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for April 25:

Nifty support zone is 16,950-17,000, below that 16,825-16,875 is a strong Support zone.

Nifty higher zone is 17,075-17,150, above that 17,175-17,275 is a strong Sell zone

Bank Nifty support zone is 35,425-35,525, below that 35,025-35,200 is a strong Support zone.

Bank Nifty higher zone is 36,050-36,125, above that 36,300-36,450 is a strong Sell zone.

Nifty support levels 17,075, 17,000, 16,975, 16,950, 16,875, 16,825, 16,775.

Nifty higher levels are 17,200, 17,250, 17,275, 17,300.

Bank Nifty support levels 35,925, 35,850, 35,725, 35,525, 35,425, 35,325, 35,200, 35,025.

Bank Nifty higher levels are 36,125, 36,300, 36,350, 36,400, 36,450, 36,500.

FIIs Index Long lighter at 47% Vs 50%.

PCR at 0.91 Vs 1.14.

India VIX up by 3% at 18.35.

For Existing Long Positions:

Nifty Intraday stop loss is 16,800 and Closing stop loss is 16,950.

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

For Existing Short Positions:

Nifty Intraday and Closing stop loss are 17,225.

Bank Nifty Intraday and Closing stop loss are 36,350.

For New Positions:

Sell Nifty with a stop loss of 17,225 and target 17,000, 16,975, 16,950, 16,875, 16,825, 16,775.

Aggressive Traders Buy Nifty in 16825-16950 range with a strict stop loss of 16,750 and target 17,000, 17,050, 17,125, 17,150, 17,175, 17,200.

For New Positions:

Sell Bank Nifty with a stop loss of 36,350 and target 35,725, 35,525, 35,425, 35,325, 35,200, 35,025, 34,900.

Buy Bank Nifty in 35,025-35,200 range with a stop loss of 34,900 and target 35,325, 35,425, 35,525, 35,725, 35,850, 35,925.

Aggressive Traders Buy Bank Nifty in 35,325-35,525 range with a strict stop loss of 35,200 and target 35,725, 35,850, 35,925, 36,050, 36,125, 36,300, 36,350.

No Stock In F&O Ban

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