Anil Singhvi’s Strategy March 31: Support zone on Nifty is 17,375-17,450 & Bank Nifty is 35,900-36,075

Amid positive global markets, foreign institutional investors (FIIs), domestic institutional investors (DIIs), sentiment and neutral future & options (F&O) cues, the short-term trend of the Indian stock markets will be neutral on Thursday, March 31, 2022.

Indian stock markets climbed one per cent on Wednesday, March 30, 2022, Wednesday, March 30, 2022. The BSE Sensex closed above 58,600 points while the NSE Nifty ended near the 17,500 mark.

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The S&P BSE Sensex climbed 740.34 points, or 1.28 per cent, to close at 58,683.99. The Nifty 50 also surged 172.95 points, or one per cent, to settle at 17,498. 25. In the sectoral indices, the Bank Nifty index jumped 486.90 points, or 1.36 per cent, to end at 36,334.30.

In the broader market, the S&P BSE MidCap index added 0.78 per cent and the S&P BSE SmallCap index rose 1.09 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for March 31:

Nifty support zone is 17,375-17,450, below that 17,250-17,350 is a strong Buy Zone.

Nifty higher zone is 17,565-17,625, above that 17,675-17,775 is a strong Profit-booking zone.

Bank Nifty support zone 35,900-36,075, below that 35,525-35,725 is a strong Buy zone.

Bank Nifty higher zone is 36,600-36,800, above that 36,900-37,150 is a strong Profit-booking zone.

Nifty support levels are17,450, 17,400, 17,350, 17,325, 17,300, 17,250.

Nifty higher levels are 17,525, 17,565, 17,625, 17,675, 17,725, 17,775.

Bank Nifty support levels are 36,250, 36,150, 36,075, 35,950, 35,850, 35,725.

Bank Nifty higher levels are 36,425, 36,600, 36,800, 36,900, 37,050, 37,150, 37,225, 37,300.

FIIs Index Long position at 61% Vs 58%.

PCR at 1.17 Vs 1.08.

India VIX is down by 3% at 20.61.

For Existing Long Positions:

Nifty Intraday and Closing stop loss are 17,300.

Bank Nifty Intraday stop loss is 36000 and Closing stop loss is 35,850.

For Existing Short Positions:

Nifty Intraday and Closing stop loss are 17,625.

Bank Nifty Intraday stop loss is 36,600 and Closing stop loss is 36,425.

For New Positions:

Buy Nifty with a stop loss of 17,300 and target 17,565, 17,625, 17,675, 17,725, 17,775.

Sell Nifty in 17625-17725 range with a stop loss of 17,825 and target 17,575, 17,525, 17,500, 17,450, 17,400.

For New Positions:

Buy Bank Nifty with a stop loss of 36,000 and target 36,425, 36,600, 36,800, 36,900, 37,050, 37,150, 37,225, 37,300.

Aggressive Traders Sell Bank Nifty in 36,800-36,900 range with a strict stop loss of 37,075 and target 36,650, 36,425, 36,350, 36,250, 36,150, 36,075.

F&O Ban Update:

Only 1 Stock in Ban

Out of Ban: Sun TV, PVR

Already in Ban: Vodafone Idea

New in Ban: Nil