Amid positive global markets, domestic institutional investors (DIIs), future & options (F&O), neutral sentiment and negative foreign institutional investors (FIIs) cues, the short-term trend of the Indian stock markets will be neutral on Tuesday, April 26, 2022.

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Indian stock markets on Monday, April 25, 2022, plunged more than one per cent. Domestic stock indices declined amid weak cues from global share markets. The S&P BSE Sensex closed below 56,600 points while the Nifty at National Stock Exchange ended below the 17,000 level. The Sensex lost 617.26 points, or 1.08 per cent, to finish at 56,579.89. The Nifty also tumbled 218 points, or 1.27 per cent, to settle at 16,953.95. In sectoral indices, the Bank Nifty index rose 37.60 points, or 0.10 per cent, to close at 36,082.35.

In the broader market, the S&P BSE MidCap and S&P BSE SmallCap declined 1.86 per cent and 1.88 per cent, respectively.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for April 26:

Nifty support zone is 16,950-16,975, below that 16,825-16,875 is a strong Buy zone.

Nifty higher zone is 17,050-17,125, above that 17,150-17,225 is a Profit booking zone.

Bank Nifty support zone is 35,925-36,000, below that 35b425-35b525 is a strong Buy zone

Bank Nifty higher zone is 36,350-36,500, above that 36,625-36,800 is a Profit booking zone

Nifty support levels are 16,950, 16,875, 16,825.

Nifty higher levels are 17,050, 17,125, 17,150, 17,175, 17,200, 17,250, 17,275.

Bank Nifty support levels are 36,000, 35,925, 35,850, 35,725, 35,525.

Bank Nifty higher levels are 36,275, 36,350, 36,400, 36,450, 36,500, 36,600, 36,725, 36,800.

FIIs Index Long near the bottom at 43% Vs 47%.

PCR is light and comfortable at 0.83 Vs 0.91.

India VIX is up by 16% at 21.26.

For Existing Long Positions:

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

Bank Nifty Intraday stop loss is 35,500 and Closing stop loss is 35,900.

 

For Existing Short Positions:

Nifty Intraday stop loss is 17,075 and Closing stop loss is 17,175.

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

For New Positions:

Buy Nifty with a stop loss of 16,875 and target 17,050, 17,125, 17,150, 17,175, 17,200, 17,250.

Sell Nifty in 17150-17200 range with a stop loss of 17,300 and target 17,125, 17,075, 17,000, 16,975, 16,950, 16,875.

For New Positions:

Buy Bank Nifty with a stop loss of 35,900 and target 36,275, 36,350, 36,400, 36,450, 36,500, 36,600, 36,725, 36,800.

Sell Bank Nifty in 36,600-36,800 range with a stop loss of 37,000 and target 36,500, 36,450, 36,400, 36,350, 36,300, 36,125, 36,075, 35,925.

No Stock In F&O Ban

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Positives:

Strong Brand and market presence

Strong demand and growth outlook

Strong financials with free Cash flow

Good Anchor book

Negatives:

Highly competitive business

Only OFS, no money going to the company

Little expensive valuations