Amid neutral global markets, future & options (F&O), negative foreign institutional investors (FIIs), positive domestic institutional investors (DIIs) and cautious sentiment cues, the short-term trend of the Indian stock markets will be positive on Wednesday, April 13, 2022.

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Equity benchmarks of the Indian stock markets fell more than half a per cent on Tuesday, April 12, 2022. The Sensex and the Nifty declined for the second session in a row amid negative cues from global markets. The BSE Sensex closed below the 58,600 mark while the NSE Nifty ended below the 17,550 level.

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The Sensex plunged 388.20 points, or 0.66 per cent, to finish at 58,576.37. The Nifty 50 also tumbled 145.65 points, or 0.82 per cent, to settle at 17,530.30. In the sectoral indices, the Bank Nifty index closed with a gain of 133.60 points, or 0.36 per cent, at 37,747.40.

The broader markets fell sharply. The S&P BSE MidCap and S&P BSE SmallCap declined 1.45 per cent and 1.47 per cent, respectively.  

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for April 13:

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

Nifty higher zone is 17,600-17,675, above that 17775-17850 is a strong Sell zone.

Bank Nifty support zone is 37,400-37,525, below that 37,150-37,350 is a strong Buy zone.

Bank Nifty higher zone is 37,925-38,075, above that 38,450-38,625 is a strong Sell zone.

Nifty support levels are 17,500, 17,475, 17,450, 17,425, 17,350, 17,300, 17,250.

Nifty higher levels are 17,600, 17,625, 17,650, 17,675, 17,775, 17,800, 17,850.

Bank Nifty support levels are 37,625, 37,525, 37,400, 37,350, 37,275, 37,150, 37,050.

Bank Nifty higher levels are 37,875, 37,925, 38,975, 38,075, 38,225, 38,300, 38,450, 38,525, 38,625.

FIIs Index Long position lighter at 54% Vs 61%.

PCR is light and comfortable at 0.75 Vs 0.86.

India VIX is down by 1% at 18.16.

For Existing Long Positions:

Nifty Intraday loss is 17,400 and Closing stop loss is 17,500.

Bank Nifty Intraday loss is 37,250 and Closing stop loss is 37,500.

For Existing Short Positions:

Nifty Intraday stop loss is 17,700 and Closing stop loss is 17,825.

Bank Nifty Intraday and Closing stop loss are 38,075.

For New Positions:

Buy Nifty with a stop loss of 17,400 and target 17,600, 17,625, 17,650, 17,675, 17,775, 17,800.

Sell Nifty in 17675-17775 range with a stop loss of 17,850 and target 17,650, 17,600, 17,550, 17,525, 17,475, 17,450, 17,425.

For New Positions:

Buy Bank Nifty in 37275-37525 range with a stop loss of 37,150 and target 37,625, 37,750, 37,875, 37,925, 37,975.

Aggressive Traders Buy Bank Nifty with a strict stop loss of 37,500 and target 37,875, 37,925, 37,975, 38,075, 38,225, 38,300, 38,450, 38,525.

Sell Bank Nifty in 38,450-38,625 range with a stop loss of 38,775 and target 38,300, 38,225, 38,075, 37,975, 37,925, 37,875, 37,750.

Aggressive Traders Sell Bank Nifty in 37975-38075 range with a strict stop loss of 38,150 and target 38,875, 38,750, 38,625, 38,525, 38,400, 38,350, 38,275, 38,150.

F&O Ban Update:

Out Of Ban: Delta Corp

Already In Ban: RBL Bank

New In Ban: Nil

Hariom Pipe Listing Preview: Expected to list in 170-180 range. Keep Stop loss of issue price 153.