Anil Singhvi’s Strategy April 4: Support zone on Nifty is 17,550-17,625 & Bank Nifty is 36,800-36,900

Amid positive global markets, foreign institutional investors (FIIs), sentiment, neutral domestic institutional investors (DIIs) and negative future & options (F&O), the short-term trend of the Indian stock markets will be neutral on Monday, April 4, 2022.

At the stock markets, the S&P BSE Sensex and the Nifty 50, on Friday, April 1, 2022, climbed more than one per cent amid mixed cues from global share markets. The BSE Sensex closed above 59,250 points while the NSE Nifty ended above the 17,650 level.  

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The Sensex climbed 708.18 points, or 1.21 per cent, to finish at 59,276.69. The Nifty 50 also surged 205.70 points, or 1.18 per cent, to settle at 17,670.45. In sectoral indices, the Bank Nifty index rose 774.90 points, or 2.13 per cent, to 37,148.50.

In the broader market, the S&P BSE Mid-Cap index added 1.39 per cent while the S&P BSE Small-Cap index rose 1.71 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for April 4:

Nifty support zone is 17,550-17,625, below that 17,450-17,500 is a strong Buy Zone.

Nifty higher zone is 17,700-17,765, above that 17,800-17,875 is a strong Profit-booking zone.

Bank Nifty support zone is 36,800-36,900, below that 36,425-36,625 is a strong Buy zone.

Bank Nifty higher zone is 37,350-37,525, above that 37,750-37,975 is a strong Profit-booking zone.

Nifty support levels are 17,625, 17,550, 17,500, 17,475, 17,425.

Nifty higher levels are 17,700, 17,775, 17,800, 17,825, 17,875, 17,900.

Bank Nifty support levels are 36,900, 36,800, 36,625, 36,425, 36,375, 36,275.

Bank Nifty higher levels are 37,275, 37,350, 37,450, 37,525, 37,600, 37,750, 37,825, 37,975.

FIIs Index Long position is higher at 71% Vs 74%.

PCR higher at 1.30 vs 1.07, profit-booking expected at a higher level.

India VIX is down 10% at 18.44.

For Existing Long Positions:

Nifty Intraday stop loss is 17,600 and Closing stop loss is 17,450.

Bank Nifty Intraday stop loss is 36,800 and Closing stop loss is 36,350.

For Existing Short Positions:

Nifty Intraday and Closing stop loss are 17,825.

Bank Nifty Intraday and Closing stop loss are 37550.

For New Positions:

Buy Nifty in 17,525-17,600 range with a stop loss of 17,450 and target 17,675, 17,700, 17,765, 17,800, 17,825, 17,875.

Sell Nifty in 17,765-17,875 range with a stop loss of 17,950 and target 17,700, 17,675, 17,625, 17,550, 17,500.

For New Positions:

Buy Bank Nifty in 36,425-36,625 range with a stop loss of 36,250 and target 36,800, 36,900, 37,050, 37,150.

Aggressive Traders Buy Bank Nifty in 36,800-36,900 range with a strict stop loss of 36,700 and target 37,050, 37,150, 37,275, 37,350, 37,450, 37,525, 37,600, 37,750.

Sell Bank Nifty in 37,750-37,975 range with a stop loss of 38,050 and target 37,650, 37,575, 37,525, 37,450, 37,350, 37,275, 37,200, 37,150.

Aggressive Traders Sell Bank Nifty in 37,350-37,525 range with a strict stop loss of 37,650 and target 37,275, 37,200, 37,150, 37,050, 36,900, 36,800, 36,625, 36,425.

F&O Ban Update:

NO STOCKS IN F&O BAN