Amid positive global markets, foreign institutional investors (FIIs), sentiment, negative domestic institutional investors (DIIs) and neutral futures & options (F&O) cues, the short-term trend of the Indian stock markets will be positive on Thursday, February 4, 2021.

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Benchmark stocks on Wednesday, February 3, 2021, surged around one per cent to hit fresh record highs. The key domestic climbed amid positive global market cues. The Sensex closed above 50,250-mark while the Nifty settled near 14,800 level.  

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The Sensex gained 458 points, or 0.92 per cent, up at 50,256. The NSE Nifty also rose 142 points, or 0.97 per cent to trade at 14,790. The Bank Nifty closed 490.55 points or 1.43 per cent higher at 34,758.45.

The BSE Mid-Cap index appreciated 1.38 per cent and the BSE Small-Cap index closed 1.47 per cent up. During the current week, the Sensex and the Nifty skyrocketed around 8.5 per cent.   

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

Day support zone on Nifty is 14,650-14,725, below that 14,525-14,575 is strong Buy zone.

Day higher zone on Nifty is 14,850-14,900, above that 14,950-15,000 is strong profit-booking zone.

Day support zone on Bank Nifty is 34,050-34,275, below that 33,500-33,600 is strong Buy zone.

Day higher zone on Bank Nifty is 35,000-35,200, above that 35,400-35,500 is profit-booking zone.

The small day range for trading on Nifty is 14,725-14,850, while the medium and bigger ranges are 14,650-14,900 and 14,575-14,950, respectively.

The small day range for trading on Bank Nifty is 34,500-35,000, while the medium and bigger ranges are 34,300-35,200 and 34,000-35,500, respectively.

FIIs Index long unchanged at 71%.

PCR at 1.46 Vs 1.39.

VIX up by 2% at 23.75.

For Existing Long Positions:

Nifty intraday stop loss is 14,700 and closing stop loss is 14,640.

Bank Nifty intraday and closing stop loss are 34,250.

For Existing Short Positions:

Nifty intraday and closing stop loss are 14,900.

Bank Nifty intraday and closing stop loss are 35,000.

For New Positions:

Buy Nifty in 14,650-14,725 range with a stop loss of 14,575 and target 14,775, 14,850, 14,900, 14,950. 

Sell Nifty in 14,950-15,000 range with a stop loss of 15,050 and target 14,900, 14,875, 14,800.  

For New Positions:

Buy Bank Nifty in 34,000-34,300 range with a stop loss of 33,900 and target 34,500, 34,575, 34,650, 34,750, 34,900, 35,000.

F&O Ban Update:

Already in Ban: SAIL

New in Ban: NIL

Out of Ban: NIL