Anil Singhvi’s Strategy March 15: Day support zone on Nifty is 14,875-14,950 & Bank Nifty is 35,200-35,300

Anil Singhvi’s Strategy March 15: Amid positive global markets, futures & options (F&O), sentiment, neutral domestic institutional investors (DIIs) and negative foreign institutional investors (FIIs) cues, the short-term trend of the Indian stock markets will be positive on Monday, March 15, 2021.

Domestic equity barometers snapped their three-day rising streak and ended with steep losses on Friday, March 12, 2021. The S&P BSE Sensex tumbled 487.43 points or 0.95 per cent to end at 50,792.08. The Nifty 50 index slumped 143.85 points or 0.95 per cent to close at 15,030.95. The Bank Nifty fell 441.65 points or 1.23 per cent to settle at 35,496.65.

The broader market at BSE outperformed the Sensex as the BSE Mid-Cap index slipped 0.45 per cent, while the BSE Small-Cap index appreciated marginally by 0.14 per cent.

Add Zee Business as a Preferred Source

WATCH | Click on Zee Business Live TV Streaming Below:

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for March 15:

Day support zone on Nifty is 14,875-14,950 and day higher zone is 15,175-15,250.

Day support zone on Bank Nifty is 35,200-35,300, below that 34,800-35,000 is strong Buy zone.

Day higher zone on Bank Nifty is 35,850-36,000, above that 36,100-36,300 is strong Sell zone.

The small day range for trading on Nifty is 15,000-15,100, while the medium and bigger ranges are 14,950-15,175 and 14,875-15,245, respectively.

The small day range for trading on Bank Nifty is 35,200-35,850, while the medium and bigger ranges are 35,000-36,000 and 34,800-36,100, respectively.

FIIs decreased Index long at 59% Vs 61%.

PCR near oversold at 1.02 Vs 1.39, short covering expected.

India VIX up by 5% at 21.71.

For Existing Long Positions:

Nifty intraday and closing stop loss are 14,950.

Bank Nifty intraday and closing stop loss are 35,175.

For Existing Short Positions:

Nifty intraday and closing stop loss are 15,175.

Bank Nifty intraday and closing stop loss are 36,000.

For New Positions:

Buy Nifty with a stop loss of 14,950 and target 15,075, 15,100, 15,175, 15,200, 15,245.

Sell Nifty in 15,175-15,245 range with a stop loss of 15,350 and target 15,100, 15,075, 15,030, 14,950.

For New Positions:

Buy Bank Nifty with a stop loss of 35,000 and target 35,750, 36,850, 36,925, 36,000, 36,100, 36,300.

Sell Bank Nifty in 36,100-36,300 range with a stop loss of 36,500 and target 35,925, 35,850, 35,750, 35,600, 35,500.

F&O Ban Update:

Out of Ban: BOB

New in Ban: BHEL

3 Stocks already in Ban: SAIL, PNB, Sun TV

Stock of the Day:

MTAR Listing Preview: Expected to list in 1000-1100 range. Long term Investors must HOLD, Short term Investors keep stop loss of 950.

Laxmi Organic IPO Preview: APPLY FOR GOOD LISTING GAIN AND LONG TERM

Positives:

Attractive Valuations

Strong Growth Outlook for Industry

Company to benefit from the expansion plan

Negatives:

Low capacity utilisation of speciality chemicals

No significant growth in Revenues and Margins in last 3 years

Craftsman Automation IPO Preview: Only high risk-taking Investors can apply for LONG TERM

Positives:

Good Track Record of 30 years Business

Reasonable Valuations

Negatives:

Huge Debt