Anil Singhvi’s Strategy April 9: Day support zone on Nifty is 14,775-14,825 & Bank Nifty is 32,500-32,675

Amid neutral global markets, foreign institutional investors (FIIs), futures & options (F&O) and positive domestic institutional investors (DIIs) and sentiment cues, the short-term trend of the Indian stock markets will be neutral on Friday, April 9, 2021.

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Domestic equity benchmarks ended with minor gains on Thursday, April 8, 2021. The S&P BSE Sensex closed with a marginal gain of 84.45 points or 0.17 per cent at 49,746.21. Nifty 50 gained climbed 54.75 points or 0.37 per cent to 14,873.80. The Bank Nifty index closed with a loss of 208.35 points or 0.63 per cent at 32,782.85. 

The broader market rallied. The S&P BSE Mid-Cap index rose 0.60 per cent. The S&P BSE Small-Cap index added 0.73 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for April 9:

Day support zone on Nifty is 14,775-14,825, below that 14,650-14,675 is a strong Buy zone. 

Day higher zone on Nifty is 14,950-15,000, above that 15,050-15,100 is strong Profit-booking zone.

Day support zone on Bank Nifty is 32,500-32,675, below that 32,150-32,350 is a strong Buy zone. 

Day higher zone on Bank Nifty is 33,000-33,175, above that 33,300-33,500 is strong Sell zone. 

The small day range for trading on Nifty is 14,775-14,925, while the medium and bigger day ranges are 14,700-14,975 and 14,650-15,050, respectively.

The small day range for trading on Bank Nifty is 32,500-32,975, while the medium and bigger day ranges are 32,350-33,175 and 32,150-33,300, respectively.

FIIs Index long at 61% Vs 60%

PCR at 1.41 Vs 1.29

India VIX unchanged at 20.31

For Existing Long Positions:

Nifty intraday and closing stop loss are 14,800.

Bank Nifty intraday and closing stop loss are 32,500.

For Existing Short Positions:

Nifty intraday and closing stop loss are 15,000.

Bank Nifty intraday and closing stop loss are 33,325.

For New Positions:

Buy Nifty in 14775-14825 range with a stop loss of 14,700 and target 14,875, 14,925, 14,975, 15,000, 15,050. 

Sell Nifty in 14,950-15,050 range with a stop loss of 15,100 and target 14,900, 14,875, 14,825, 14,775.

For New Positions:

Buy Bank Nifty in 32,350-32,500 range with a stop loss of 32,100 and target 32,675, 32,800, 32,975, 33,175. 

Sell Bank Nifty in 33,175-33,300 range with a stop loss of 33,500 and target 33,025, 32,800, 32,700, 32,500.

F&O Ban Update:

Out of Ban: Nil

Already in Ban: SAIL 

New in Ban: Nil