Amid positive global markets, domestic institutional investors (DIIs), neutral foreign institutional investors (FIIs), future & options (F&O) and sentiment cues, the short-term trend of the Indian stock markets will be neutral on Friday, April 29, 2022.

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

Domestic equity indices ended with robust gains on Thursday, April 28, 2022, tracking strong global cues. The Sensex at Bombay Stock Exchange closed above 57,500 points while the Nifty at National Stock Exchange was settled above the 17,200 level. The barometer index, S&P BSE Sensex surged 701.67 points or 1.23% at 57,521.06. The Nifty 50 index rallied 206.65 points or 1.21% at 17,245.05.

In the broader markets, the S&P BSE MidCap rose 0.83% while the S&P BSE Small-Cap index gained 0.12%.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for April 29:

Nifty support zone is 17,075-17,150, Below that 16,950-17,000 is a strong Buy zone.

Nifty higher zone is 17,300-17,350, Above that 17,400-17,475 is a Profit booking zone.

Bank Nifty support zone is 36,075-36,175, Below that 35,750-35,950 is a strong Buy zone

Bank Nifty higher zone is 36600-36725, Above that 36,800-36,950 is a Profit booking zone

Nifty support levels are 17,200, 17,175, 17,150, 17,075, 17,000, 16,950.

Nifty higher levels are 17,300, 17,325, 17,350, 17,400, 17,450, 17,475.

Bank Nifty support levels are 36,350, 36,300, 36,175, 36,075, 36,000, 35,925, 35,750.

Bank Nifty higher levels are 36,500, 36,600, 36,725, 36,800, 36,900, 36,950.

FIIs Index Long at the bottom at 35% Vs 33%.

PCR at 1.33 Vs 0.91.

India VIX is down by 6% at 19.38.

For Existing Long Positions:

Nifty Intraday and Closing stop loss are 16,950.

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

For Existing Short Positions:

Nifty Intraday and Closing stop loss are 17,425.

Bank Nifty Intraday stop loss is 37,000 and Closing stop loss is 36,750.

For New Positions:

Buy Nifty in 17075-17150 range with a stop loss of 16,950 and target 17,175, 17,200, 17,250, 17,300, 17,325, 17,350.

Aggressive Traders Buy Nifty with a strict stop loss of 17,050 and target 17,300, 17,325, 17,350, 17,400, 17,450, 17,475.

Sell Nifty in 17,350-17,450 range with a stop loss of 17,525 and target 17,300, 17,250, 17,200, 17,175, 17,150, 17,075.

For New Positions:

Buy Bank Nifty in 35,950-36,100 range with a stop loss of 35,750 and target 36,175, 36,275, 36,325, 36,400, 36,450, 36,500, 36,600.

Aggressive Traders Buy Bank Nifty with a strict stop loss of 36,000 and target 36,500, 36,600, 36,725, 36,800, 36,900, 36,950.

Sell Bank Nifty in 36,800-36,950 range with a stop loss of 37,050 and target 36,725, 36,600, 36,525, 36,425, 36,350, 36,300.

Aggressive Traders Sell Bank Nifty in 36,600-36,725 range with a strict stop loss of 36,850 and target 36,525, 36,425, 36,350, 36,300, 36,175, 36,100, 36,025, 35,950.

No Stock In F&O Ban