Anil Singhvi’s Strategy April 27: Day support zone on Nifty is 14,400-14,425 & Bank Nifty is 31,700-31,800

Amid neutral global markets, futures & options (F&O), sentiment, positive foreign institutional investors (FIIs) and domestic institutional investors (DIIs) cues, the short-term trend of the Indian stock markets will be neutral on Tuesday, April 27, 2021.

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The domestic stocks markets closed with a gain of more than one per cent on Monday, April 26, 2021, amid mixed global cues. The S&P BSE Sensex soared 508.06 points or 1.06 per cent and closed at 48,386.51. The Nifty 50 index closed with a gain of 143.65 points or 1 per cent at 14,485. The Nifty Bank index gained 552.85 points or 1.74 per cent to close at 32,275.15.

The broader market at BSE also gained, underperforming the Sensex as the BSE Mid-Cap index surged 0.6 per cent while the BSE Small-Cap index appreciated 0.88 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for April 27:

Day support zone on Nifty is 14,400-14,425, below that 14,275-14,350 is a strong Buy zone. 

Day higher zone on Nifty is 14,550-14,600, above that 14,650-14,725 is strong Sell zone.

Day support zone on Bank Nifty is 31,700-31,800, below that 31,200-31,400 is a strong Buy zone. 

Day higher zone on Bank Nifty is 32,575-32,675, above that 32,775-32,975 is the strong Profit-booking zone. 

The small Day Range for trading on Nifty is 14,400-14,550, while the medium and bigger trading ranges are 14,350-14,600 and 14,275-14,650, respectively. 

The small Day Range for trading on Bank Nifty is 32,125-32,500, while the medium and bigger trading ranges are 31,800-32,675 and 31,700-32,775, respectively. 

FIIs Index long at 68% Vs 64%

PCR at 1.38 Vs 1.27

India VIX up by 3% at 23.50

For Existing Long Positions:

Nifty intraday stop loss is 14,400 and closing stop loss is 14,300. 

Bank Nifty intraday stop loss is 32,000 and closing stop loss is 31,700

For Existing Short Positions:

Nifty intraday and closing stop loss are 14600

Bank Nifty intraday and closing stop loss are 32600

For New Positions: 

Buy Nifty in 14,350-14,425 range with a stop loss of 14,250 and target 14,475, 14,500, 14,550, 14,600. 

Aggressive Traders Buy Nifty with strict stop loss is 14,400 and target 14,550, 14,600, 14,650, 14,675, 14,700. 

Sell Nifty in 14,575-14,650 range with a stop loss of 14,700 and target 14,525, 14,500, 14,450, 14,425, 14,400.

For New Positions:

Buy Bank Nifty in 31,700-31,800 range with a stop loss of 31,600 and target 31,975, 32,100, 32,200, 32,275, 32,450, 32,500, 32,575.

Aggressive Traders Buy Bank Nifty in 32,000-32,150 range with strict stop loss of 31,900 and target 32,275, 32,450, 32,500, 32,575, 32,675, 32,775, 32,975. 

Sell Bank Nifty in 32,775-32,975 range with a stop loss of 33,100 and target 32,700, 32,600, 32,500, 32,325, 32,275. 

Aggressive Traders Sell Bank Nifty in 32,575-32,675 range with strict stop loss of 32,800 and target 32,500, 32,325, 32,275, 32,200, 32,125, 32,000, 31,800.

F&O Ban Update:

New in Ban: SAIL

2 Already in Ban: Indiabulls Housing Finance, Sun TV

Out of Ban: Nil

Stock of the Day:

Buy Federal-Mogul: Stop loss 260 and target 280, 285, 295, 300. OFS got a good response from non-retail Investors, oversubscribed 4 times. Retail Investors should apply for Long Term.