Anil Singhvi’s Strategy March 25: Support zone on Nifty is 17,000-17,100 & Bank Nifty is 35,325-35,475

Amid positive global markets, domestic institutional investors (DIIs), negative foreign institutional investors (FIIs), neutral future & options (F&O) and sentiment cues, the short-term trend of the Indian stock markets will be neutral on Friday, March 25, 2022.

At the stock markets, the Sensex and the Nifty, on Thursday, March 24, 2022, fell marginally amid mixed cues from global share markets. The S&P BSE Sensex closed below 57,600 points while the NSE Nifty settled below the 17,250 level. The Sensex declined 89.14 points, or 0.15 per cent, to end at 57,595.68. The Nifty 50 also slipped 22.90 points, or 0.13 per cent, to finish at 17,222.75. In the sectoral indices, the Bank Nifty index dropped 620.25 points, or 1.72 per cent, to 35,527.10.

In the broader market at the BSE, the Mid-Cap climbed 0.34 per cent and the Small-Cap index added 0.16 per cent.

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Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for March 25:

Nifty support zone is 17,000-17,100, below that 16,875-16,975 is a strong Buy Zone.

Nifty higher zone is 17,275-17,325, above that 17,350-17,450 is a strong Profit-booking zone.

Bank Nifty support zone is 35,325-35,475, below that 34,625-34,750 is a strong Buy zone.

Bank Nifty higher zone is 35,750-35,900, above that 36,150-36,350 strong Profit-booking zone.

Nifty support levels are 17,200, 17,175, 17,125, 17,100, 17,000, 16,975.

Nifty higher levels are 17,250, 17,300, 17,325, 17,350, 17,450.

Bank Nifty support levels are 35,475, 35,425, 35,325, 35,025, 34,900, 34,750, 34,625, 34,550

Bank Nifty higher levels are 35,750, 35,900, 36,025, 36,150, 36,250, 36,350, 36,425, 36,600.

FIIs Index Long position at 53% Vs 55%.

PCR at 1.04 Vs 0.85.

India VIX was down by 3% at 23.93.

For Existing Long Positions:

Nifty Intraday stop loss is 16,975 and Closing stop loss is 17,100.

Bank Nifty Intraday and Closing stop loss are 35,300.

For Existing Short Positions:

Nifty Intraday stop loss is 17,450 and Closing stop loss is 17,350.

Bank Nifty Intraday stop loss is 36,050 and Closing stop loss is 36,450.

For New Positions:

Buy Nifty with a stop loss of 17,075 and target 17,275, 17,300, 17,325, 17,350, 17,400, 17,450.

Sell Nifty in 17350-17450 range with a stop loss of 17,525 and target 17,300, 17,250, 17,225, 17,200, 17,175, 17,125, 17,100.

For New Positions:

Aggressive Traders Buy Bank Nifty with a strict stop loss of 35,300 and target 35,750, 35,900, 35,950, 36,025, 36,150, 36,250, 36,350, 36,425.

Sell Bank Nifty in 36,150-36,425 range with a stop loss of 36,600 and target 36,025, 35,950, 35,900, 35,750, 35,525, 35,425.

Aggressive Traders Sell Bank Nifty in 35,950-36,150 range with a strict stop loss of 36,300 and target 35,750, 35,525, 35,475, 35,425, 35,325, 35,025, 34,900.

F&O Ban Update:

Total 7 stocks in Ban

New in Ban: Vodafone Idea, L&T Finance                 

Out of Ban: GNFC

Already in Ban: SAIL, Sun TV, Delta Corp, Balrampur Chini, Indiabulls Housing Finance