Anil Singhvi’s Strategy March 3: Day support zone on Nifty is 14,800-14,850 & Bank Nifty is 35,000-35,125
Amid neutral global markets, futures & options (F&O), positive foreign institutional investors (FIIs), sentiment and domestic institutional investors (DIIs) cues, the short-term trend of the Indian stock markets will be neutral on Wednesday, March 3, 2021
Amid neutral global markets, futures & options (F&O), positive foreign institutional investors (FIIs), sentiment and domestic institutional investors (DIIs) cues, the short-term trend of the Indian stock markets will be neutral on Wednesday, March 3, 2021.
Key equity indices advanced for a second session and closed near the day's high with strong gains on Tuesday, March 2, 2021. The BSE Sensex regained the 50,000-mark while the NSE Nifty reclaimed 14,900 level. The S&P BSE Sensex rose 447.05 points or 0.90 per cent to close at 50,296.89. The Nifty 50 gained 157.55 points or 1.07 per cent to finish at 14,919.10. The Bank Nifty closed 123.70 points or 0.35 per cent higher at 35,419.70.
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The broader market at BSE also gained outperforming the Sensex. The Mid-Cap index ended 1.50 per cent up while the Small-Cap index appreciated 1.6 per cent.
Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for March 2:
Day support zone on Nifty is 14,800-14,850, below that 14,700-14,760 is strong Buy zone.
Day higher zone on Nifty is 14,975-15,000, above that 15,065-15,100 is profit-booking zone.
Day support zone on Bank Nifty is 35,000-35,125, below that 34,650-34,800 is a strong buy zone.
Day higher zone on Bank Nifty is 35,750-35,850, above that 36,000-36,100 is profit-booking zone.
The small day range for trading on Nifty is 14,850-14,975, while the medium and bigger day ranges are 14,800-15,000 and 14,760-15,065, respectively.
The small day range for trading on Bank Nifty is 35,250-35,750, while the medium and bigger day ranges are 35,000-35,850 and 34,800-36,000.
FIIs decreased Index long at 59% vs 67%
PCR at 1.20 vs 1.05
India VIX down by 8% at 23.61
For Existing Long Positions:
Nifty intraday and closing stop loss are 14,750.
Bank Nifty intraday and closing stop loss are 34,975.
For Existing Short Positions:
Nifty intraday and closing stop loss are 15,000.
Bank Nifty intraday and closing stop loss are 35,750.
For New Positions:
Buy Nifty with a stop loss of 14,750 and target 14,975, 15,000, 15,065, 15,100, 15,150.
Sell Nifty in 15,065-15,150 range with a stop loss of 15,200 and target 15,000, 14,975, 14,925, 14,900.
For New Positions:
Buy Bank Nifty with a stop loss of 34,975 and target 35,575, 35,700, 35,750, 35,850, 36,000, 36,100.
Sell Bank Nifty in 35,850-36,100 range with a stop loss 36,150 and target 35,750, 35,700, 35,600, 35,500, 35,425.
F&O Ban Update:
New in Ban: SAIL
Already in Ban: Nil
Out of Ban: Nil
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