Anil Singhvi’s Strategy March 7: Nifty support zone are 15,875-15,925 & 15,650-15,775

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 Monday, March 7, 2022.

The Sensex and the Nifty on Friday, March 4, 2022, plunged around one and a half per cent amid negative global share markets. The S&P BSE Sensex finished below the 54,400 mark while the NSE Nifty ended below the 16,250 level.

The S&P BSE Sensex lost 768.87 points, or 1.40 per cent, to finish at 54,333.81. The Nifty 50 also tumbled 252.70 points, or 1.53 per cent, to settle at 16,245.35. The Bank Nifty index dropped by 536.50 points, or 1.54 per cent, to 34,407.80.

See Zee Business Live TV Streaming Below:

In the broader market at the BSE, the S&P BSE Mid-Cap index lost 2.36 per cent while the S&P BSE Small-Cap index slipped 1.64 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for March 7:

Nifty support zone are 15,875-15,925 and 15,650-15,775.

Nifty higher zone is 16,125-16,250, above that 16,350-16,450 is a strong Sell zone.

Bank Nifty support zone is 33,900-34,100 and 33,500-33,600, below that 33,100-33,250 is the next support Zone.

Bank Nifty higher zone is 34,900-35,100, above that 35,225-35,425 and 35,750-35,975 Sell zone.

Nifty support levels are 16,125, 16,050, 15,900, 15,850, 15,775, 15,675, 16,625.

Nifty higher levels 16,350, 16,400, 16,450, 16,475, 16,500.

Bank Nifty support levels are 34,100, 33,900, 33,750, 33,600, 33,500, 33,250, 33,100.

Bank Nifty higher levels are 34,725, 34,900, 34,950, 35,100, 35,225, 35,375, 35,550.

FIIs long position at 43% Vs 45%.

PCR at 0.85 Vs 1.07.

India VIX was down by 1% at 27.96.

For Existing Long Positions:

Nifty Intraday and Closing stop loss are 16,100.

Bank Nifty Intraday and Closing stop loss are 33,900.

For Existing Short Positions:

Nifty Intraday and Closing stop loss are 16,500.

Bank Nifty Intraday stop loss is 35,100 and Closing stop loss is 35,500.

No stock in F&O Ban