Anil Singhvi’s Strategy March 30: Day support zone on Nifty is 14,550-14,600 & Bank Nifty is 33,375-33,600

Amid positive global markets, foreign institutional investors (FIIs), domestic institutional investors (DIIs), sentiment and neutral futures & options (F&O) cues, the short-term trend of the Indian stock markets will be neutral on Tuesday, March 30, 2021.

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After two-straight sessions of losses, the domestic benchmark indexes bounced back and ended with over one per cent gains amid healthy buying in metal, auto and financial stocks Friday, March 26, 2021. The S&P BSE Sensex gained 568.38 points or 1.17 per cent to close at 49,008.50. The Nifty 50 index surged 182.40 points or 1.27 per cent to close at 14,507.30. 

Overall, the S&P BSE MidCap index ended 1.66 per cent higher, while the SmallCap counterpart closed with a 1.08 per cent gain.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for March 30:

Day support zone on Nifty is 14,550-14,600, below that 14,475-14,500 is a strong Buy zone.

Day higher zone on Nifty is 14,725-14,800, above that 14,875-14,950 is strong Sell zone. 

Day support zone on Bank Nifty is 33,375-33,600, below that 33,000-33,150 is a strong Buy zone. 

Day higher zone on Bank Nifty is 34,000-34,175, above that 34,325-34,500 is strong Profit-booking zone. 

The Small Day Range for trading on Nifty is 14,600-14,750, while the medium and bigger day ranges are 14,550-14,775 and 14,525-14,875, respectively.

The Small Day Range for trading on Bank Nifty is 33,600-34,000, while the medium and bigger day ranges are 33,375-34,175 and 33,150-34,325, respectively. 

Big increase in FIIs Index long at 71% Vs 62%.

PCR at 1.14 Vs 1.13.

India VIX up down 9% at 20.65.

For Existing Long Positions:

Nifty intraday and closing stop loss are 14,500

Bank Nifty intraday and closing stop loss are 33,300.

For Existing Short Positions:

Nifty intraday and closing stop loss are 14,600.

Bank Nifty intraday and closing stop loss are 33,600.

For New Positions:

Buy Nifty with a stop loss of 14,500 and target 14,700, 14,725, 14,750, 14,775, 14,800, 14,875. 

Sell Nifty in 14,875-14,925 range with a stop loss of 15,000 and target 14,825, 14,775, 14,750, 14,700.

Aggressive Traders Sell Nifty in 14,750-14,800 range with a stop loss of 14,875 and target 14,700, 14,600, 14,575, 14,550. 

For New Positions:

Buy Bank Nifty with a stop loss of 33,300 and target 33,850, 33,950, 34,000, 34,175, 34,225, 34,325, 34,425, 34,500. 

Sell Bank Nifty in 34,325-34,500 range with a stop loss of 34,600 and target 34,225, 34,175, 34,000, 33,850, 33,600.

No Stocks in F&O Ban

Nazara Tech Listing Preview: Expected to list around 1800-1850 range against issue price 1101. Keep Stop loss of 1700. Keep trailing Stop loss and HOLD for bigger gains.