Anil Singhvi’s Strategy April 15: Strong Support Zone on Nifty is 8,750-8,900 and Bank Nifty is 19,000-19,300
Amid neutral global markets, futures & options (F&O) and sentiments, negative foreign institutional investors (FIIs) and domestic institutional investors (DIIs) cues, the short-term trend of the Indian stock markets will be negative on Wednesday, April 15, 2020
Amid neutral global markets, futures & options (F&O) and sentiments, negative foreign institutional investors (FIIs) and domestic institutional investors (DIIs) cues, the short-term trend of the Indian stock markets will be negative on Wednesday, April 15, 2020.
Domestic barometers ended with significant cuts on Monday, April 13, 2020, as India looked set to extend the 21-day lockdown to contain the spread of the coronavirus. The Nifty slipped below the 9,000-mark as investors locked profits after the index rallied almost 13% last week. The barometer index, the S&P BSE Sensex, fell 469.60 points or 1.51% at 30,690.02. The Nifty 50 index lost 118.05 points or 1.30% at 8,993.85. Similarly, Bank Nifty lost 425.60 points or 2.14% to close at 19,488.
Zee Business's Managing Editor Anil Singhvi's Market Strategy for April 15:
If Nifty crosses, sustains and closes above 9,100-9,300 range then expect a rally till 9,500-9,600.
If Bank Nifty crosses, sustains and closes above 20,000-20,300 range then expect a rally till 21,000-21,500.
Strong Support Zone on Nifty is 8,750-8,900 and Bank Nifty is 19,000-19,300.
The small day range for trading on Nifty is 8,900-9,100, while the medium and bigger ranges are 8,800-9,200 and 8,750-9,300 respectively.
The small day range for trading on Bank Nifty is 19,300-19,900, while the medium and bigger ranges are 19,150-20,000 and 19,000-20,300 respectively.
For Existing Long Positions:
Nifty intraday stop loss 8,900 and closing stop loss 8,750.
Bank Nifty intraday stop loss 19,300 and closing stop loss 19,000.
For Existing Short Positions:
Nifty intraday and closing stop loss 9,150.
Bank Nifty intraday and closing stop loss 20,000.
For New Positions:
Buy Nifty with a stop loss of 8,900 and target 9,000, 9,100, 9,200, 9,300.
Sell Nifty in 9,300-9,500 range with a stop loss of 9,600 and target 9,200, 9,150, 9,000.
Buy Bank Nifty with a stop loss of 19,250 and target 19,900, 20,000, 20,300, 20,500.
Sell Bank Nifty in 20,300-20,500 range with a stop loss of 20,700 and target 20,000, 19,900, 19,600, 19,500.
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Put-Call Ratio (PCR) is higher at 1.39 and Volatility Index (VIX) up 3% to 51.46.
08:55 AM IST