Amid positive global market, neutral futures & options (F&O), sentiment and negative foreign institutional investors (FIIs) and domestic institutional investors (DIIs) cues, the short-term trend of the Indian stock markets will be neutral on Monday, April 27, 2020.

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Domestic shares corrected on Friday, April 24, 2020, tracking negative cues from global stock markets. The Nifty ended below the 9,200-mark. Financial stocks witnessed major selling while pharma stocks bucked the trend. The barometer S&P BSE Sensex tumbled 535.86 points or 1.68% at 31,327.22. The Nifty 50 index slipped 159.50 points or 1.71% at 9,154.40. Bank Nifty fell by 681.30 points or 3.36% to 19,586.65.

Zee Business's Managing Editor Anil Singhvi's Market Strategy for April 27:

Strong Support Zone on Nifty is 8,900-9,000 and Bank Nifty is 18,900-19,050.

Higher Zone on Nifty is 9,300-9,400 and Bank Nifty is 20,000-20,300.

The small day range for trading on Nifty is 9,050-9,250, while the medium and bigger ranges are 9,000-9,300 and 8,925-9,400 respectively.

The small day range for trading on Bank Nifty is 19,400-19,800, while the medium and bigger ranges are 19,250-19,950 and 19,050-20,300 respectively.

For Existing Long Positions:

Nifty intraday and closing stop loss 8,975.

Bank Nifty intraday and closing stop loss 19,400.

For Existing Short Positions:

Nifty intraday and closing stop loss 9,325.

Bank Nifty intraday and closing stop loss 20,000.

For New Positions:

Buy Nifty with a stop loss of 8,975 and target 9,250, 9,300, 9,350, 9,400.

Sell Nifty in 9,340-9,390 range with a stop loss of 9,425 and target 9,300, 9,270, 9,225.

Buy Bank Nifty with a stop loss of 19,400 and target 19,800, 19,900, 20,000, 20,300.

Sell Bank Nifty in 20,000-20,300 range with a stop loss of 20,550 and target 19,900, 19,700, 19,600.  

Put-Call Ratio (PCR) is 1.34 and the Volatility Index (VIX) is 39.12

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