Amid cautious global markets, sentiment, neutral foreign institutional investors (FIIs), future & options (F&O), positive domestic institutional investors (DIIs) cues, the short-term trend of the Indian stock markets will be negative on Monday, February 28, 2022.

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Domestic stock markets on Friday, February 25, 2022, bounced back and recovered around two and a half per cent after falling more than four and a half per cent in the previous session. The Sensex and the Nifty gained in sync with gains in the global share markets. The BSE Sensex closed above 55,800 points while the NSE Nifty settled above 16,600.

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The S&P BSE Sensex climbed 1329 points, or 2.44 per cent to finish at 55,859 while the Nifty surged 410 points, or 2.53 per cent, to settle at 16,658. In the sectoral indices at the NSE, the Bank Nifty index gained 1,202.65 points, or 3.41 per cent, to settle at 36,430.75.

In the broader markets at the BSE, the S&P BSE MidCap and S&P BSE SmallCap indexed added 4.07 per cent and 4.17 per cent, respectively.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for February 28:

Nifty 16,425-16,475 and 16,200-16,250 are Day support zone, below that 15,625-15,750 is a strong Buy zone.

Nifty higher zone are 16,800-16,850 and 16,975-17,075, above that 17,150-17,250 is a strong Sell zone.

Bank Nifty support zone are 35,775-35,975 and 35,000-35,225, below that 34,400-34,600 is a strong Buy zone.

Bank Nifty higher zone are 36,800-36,900 and 37,300-37,525, above that 37,700-37,950 is a strong Sell zone.

Nifty support levels are 16,600, 16,475, 16,425, 16,250, 16,200.

Nifty higher levels are 16,700, 16,750, 16,800, 16,850, 16,975, 17,050, 17,100, 17,150.

Bank Nifty support levels are 36,200, 36,025, 35,775, 35,625, 35,550, 35,425, 35,225, 34,975.

Bank Nifty higher levels 36,650, 36,800, 36,900, 37,150, 37,300, 37,375, 37,525, 37,600, 37,700.

FIIs long position at 62% Vs 48%.

PCR at 1.02 Vs 0.98.

India VIX was down by 16% at 26.74.

For Existing Long Positions:

Nifty Intraday stop loss is 16,475 and Closing stop loss is 16,250.

Bank Nifty Intraday stop loss is 35,750 and Closing stop loss is 35,200.

For Existing Short Positions:

Nifty Intraday and Closing stop loss are 16,850.

Bank Nifty Intraday and Closing stop loss are 37,050.

For New Positions:

Buy Nifty in 16,425-16,475 and 16,200-16,250 range with a Strict stop loss of 16,000.

Sell Nifty in 16,800-16,850 and 16,975-17,075 range with a Strict stop loss of 17,300.

For New Positions:

Buy Bank Nifty in 35,775-35,975 and 35,000-35,225 range with a Strict stop loss of 34,700.

Sell Bank Nifty in 36,800-36,900 and 37,300-37,600 range with a Strict stop loss of 38,000.

No stock in F&O Ban