Anil Singhvi’s Strategy March 1: Day support zone on Nifty is 14,465-14,525 & Bank Nifty is 34,650-34,800

Amid positive global markets, domestic institutional investors (DIIs), futures & options (F&O), negative foreign institutional investors (FIIs), and neutral sentiment cues, the short-term trend of the Indian stock markets will be neutral on Monday, March 1, 2021.

Domestic equity markets slumped on Friday, February 26, 2021, led by the broad-based selling pressure. The S&P BSE Sensex lost 1939.32 points or 3.80 percent to end at 49,099.99. The Nifty 50 fell 568.20 points or 3.76 percent to close at 14,529.15. The Bank Nifty index also fell 1,745.40 points or 4.78 percent to 34,803.60. The broader market at BSE also declined but outperformed Sensex. The BSE Mid-Cap index ended 1.44 percent down while the BSE Small-Cap index slipped 0.74 percent.

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Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for March 1:

Day support zone on Nifty is 14,465-14,525, below that 14,350-14,375 is strong support zone.

Day higher zone on Nifty is 14,650-14,725, above that 14,800-14,900 is strong sell zone.

Day support zone on Bank Nifty is 34,650-34,800, below that 34,000-34,275 is a strong support zone.

Day higher zone on Bank Nifty is 35,250-35,575, above that 35,700-35,850 is profit-booking zone.

The small day range for trading on Nifty is 14,635-14,725, while the medium and bigger day ranges are 14,525-14,800 and 14,450-14,900, respectively.

The small day range for trading on Bank Nifty is 35,000-35,250, while the medium and bigger day ranges are 34,850-35,575 and 34,650-35,700, respectively.

FIIs decreased Index long at 61% vs 76%

PCR at 0.93 vs 1.35

India VIX up by 23% at 28.14

For Existing Long Positions:

Nifty Intraday stop loss is 14,600 and closing stop loss is 14,525.

Bank Nifty intraday and closing stop loss are 34,800.

For Existing Short Positions:

Nifty intraday and closing stop loss are 14,725.

Bank Nifty intraday and closing stop loss are 35,275.

For New Positions:

Buy Nifty with a stop loss of 14,525 and target 14,650, 14,675, 14,700, 14,725, 14,800.

Sell Nifty in 14,800-14,900 range with a stop loss of 14,925 and target 14,725, 14,675, 14,650, 14,600.

For New Positions:

Buy Bank Nifty with a stop loss of 35,000 and target 35,250, 35,575, 35,700, 35,750, 35,850.

Sell Bank Nifty 35850-36000 range with a stop loss of 36,150 and target 35,600, 35,275, 35,100, 35,000.

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