Amid negative global markets, foreign institutional investors (FIIs), sentiment, positive domestic institutional investors (DIIs) and neutral future & options (F&O) cues, the short-term trend of the Indian stock markets will be negative on Friday, March 4, 2022.

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The benchmark indices, the Sensex and the Nifty on Thursday, March 3, 2022, plunged more than half a per cent even as global share markets witnessed marginal gains. The S&P BSE Sensex finished near the 55,100 mark while the NSE Nifty ended below the 16,500 level.

The Sensex lost 366.22 points, or 0.66 per cent, to finish at 55,102.68. The Nifty 50 also tumbled 107.90 points, or 0.65 per cent, to settle at 16,498.05. In the sectoral indices at the NSE, the Bank Nifty index declined 428.50 points, or 1.21 per cent, to settle at 34,944.30.

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In the broader market at the BSE, the Mid-Cap fell 0.64 per cent while the Small-Cap index rose 0.35 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for March 4:

Nifty support zone are 16,350-16,425 and 16,200-16,250, below that 15,950-16,050 and 15,625-15,775 are a Buy Zone.

Nifty higher zone 16,600-16,675, above that 16,750-16,800 is a Sell zone.

Bank Nifty support zone are 34,400-34,600 and 33,900-34,025.

Bank Nifty higher zone are 35,225-35,375, above that 35,775-35,975 is a Sell zone.

Nifty support levels are 16,450, 16,350, 16,250, 16,200, 16,050, 16,000.

Nifty higher levels are 16,600, 16,650, 16,675, 16,700, 16,750, 16,800.

Bank Nifty support levels are 34,725, 34,600, 34,450, 34,400, 34,025, 33,900.

Bank Nifty higher levels are 35,225, 35,375, 35,550, 35,775, 35,975, 36,200, 36,375.

FIIs long position at 45% Vs 47%.

PCR at 1.07 Vs 0.84.

India VIX down by 4% at 28.16.

For Existing Long Positions:

Nifty Intraday stop loss is 16,175 and Closing stop loss is 16,250.

Bank Nifty Intraday stop loss is 34,700 and Closing stop loss is 34,400.

For Existing Short Positions:

Nifty Intraday and Closing stop loss are 16800

Bank Nifty Intraday and Closing stop loss are 35,800.

For New Positions:

Aggressive Traders Buy Nifty in 16,200-16,250 range with a strict stop loss of 16,150 and target 16,350, 16,450, 16,475, 16,500, 16,600, 16,650.

Sell Nifty in 16600-16675 range with a stop loss of 16,850 and target 16,500, 16,475, 16,450, 16,350, 16,250, 16,200.

For New Positions:

Aggressive Traders Buy Bank Nifty in 33,900-34,025 range with a strict stop loss of 33,700 and target 34,400, 34,600, 34,700, 34,900, 34,950, 35,225, 35,375.

Sell Bank Nifty in 35,775-35,975 range with a stop loss of 36,200 and target 35,550, 35,375, 35,225, 34,950, 34,725, 34,600, 34,400.

No stock in F&O Ban