Anil Singhvi’s Strategy March 14: Nifty support zone is 16,450-16,500 & Bank Nifty is 34,100-34,225

Amid neutral global markets, future & options (F&O), sentiment, negative foreign institutional investors (FIIs) and positive domestic institutional investors (DIIs) cues, the short-term trend of the Indian stock markets will be negative on Monday, March 14, 2022.

The equity benchmarks, S&P BSE Sensex and Nifty 50, on Friday, March 11, 2022, gained marginally amid mixed cues from the global share markets. The Sensex climbed 85.91 points, or 0.15 per cent to trade at 55,550.30. The Nifty 50 also rose 35.55 points, or 0.21 per cent, to trade at 16,630.45. On the sectoral indices at the NSE, the Bank Nifty index rose 70.65 points, or 0.20 per cent, to end at 34,547.25.

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In the broader markets at the BSE, the S&P BSE Midcap index rose 0.45 per cent while the S&P BSE SmallCap index gained 0.90 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for March 14:

Nifty support zone is 16,450-16,500, Below that 16,250-16,350 is a strong buy Zone.

Nifty higher zone is 16,700-16,750, Above that 16,800-16,875 is a Profit booking zone.

Bank Nifty support zone is 34,100-34,225, Below that 33,825-33,975 is a strong buy zone.

Bank Nifty higher zone is 34,875-35,075, Above that 35375-35550 is a profit booking zone.

Nifty support levels are 16,600, 16,500, 16,475, 16,450, 16,350, 16,250.

Nifty higher levels are 16,650, 16,700, 16,750, 16,800, 16,865, 16,975.

Bank Nifty support levels are 34,475, 34,400, 34,225, 34,100, 34,000, 33,825, 33,550, 33,375.

Bank Nifty higher levels are 34,700, 34,875, 35,050, 35,225, 35,375, 35,550, 35,750.

FIIs index long position at 43% Vs 42%.

PCR light & comfortable at 1.03 vs 1.05.

India VIX down by -1% at 25.35.

For Existing Long Positions:

Nifty Intraday stop loss is 16,425 and Closing stop loss is 16,350.

Bank Nifty Intraday stop loss is 34,000 and Closing stop loss is 33,800.

For Existing Short Positions:

Nifty Intraday and Closing stop loss are 16,800.

Bank Nifty Intraday and Closing stop loss are 35,000.

For New Positions:

Buy Nifty in 16,450-16,500 range with a stop loss of 16,350 and target 16,600, 16,625, 16,650, 16,700, 16,750, 16,800.

Sell Nifty in 16,700-16,800 range with a stop loss of 16,900 and target 16,650, 16,625, 16,600, 16,500, 16,475, 16,450, 16,350.

For New Positions:

Aggressive Traders Buy Bank Nifty 33,825-34,100 range with a strict stop loss of 33,700 and target 34,225, 34,400, 34,475, 34,550, 34,700, 34,875, 35,075, 35,225.

Sell Bank Nifty in 34,875-35,225 range with a stop loss of 35,550 and target 34,725, 34,550, 34,475, 34,400, 34,225, 34,100, 34,000, 33,825.

No stock in F&O Ban