Anil Singhvi’s Strategy March 9: Day support zone on Nifty is 14,875-14,925 & Bank Nifty is 35,000-35,125

Anil Singhvi’s Strategy March 9: Amid positive global markets, futures & options (F&O), sentiment, negative foreign institutional investors (FIIs) and neutral domestic institutional investors (DIIs) cues, the short-term trend of the Indian stock markets will be positive Tuesday, March 9, 2021.

Domestic equity markets closed with marginal gains on Monday, March 8, 2021, amid volatility. After starting the day on a firm note led by positive cues but profit-booking at higher levels especially in the banking stocks, trimmed the gains as the session progressed. Consequently, the S&P BSE Sensex closed 35.75 points or 0.07% up at 50,441.07. The Nifty 50 index gained 18.10 points or 0.12 per cent to settle at 14,956.20. The Bank Nifty rose 47.60 points or 0.14 per cent to close at 35,275.75.

The broader market at BSE also climbed outperforming the Sensex. The BSE Mid-Cap index gained 0.3 per cent while the BSE Small-Cap index appreciated 0.63 per cent.

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Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for March 9:

Day support zone on Nifty is 14,875-14,925, below that 14,760-14,800 is strong Buy zone.

Day higher zone on Nifty is 14,975-15,025, above that 15,075-15,100 is a strong 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 35,575-35,800, above that 36,000-36,100 is a strong profit booking zone.

The small day range for trading on Nifty is 14,925-15,000, while the medium and bigger ranges are 14,900-15,075 and 14,850-15,100, respectively.

The small day range for trading on Bank Nifty is 35,100-35,575, while the medium and bigger ranges are 35,000-35,800 and 34,800-36,000, respectively.

FIIs decreased Index long at 54% Vs 56%.

PCR at 1.06 Vs 1.12.

India VIX down by 3% at 24.68.

For Existing Long Positions:

Nifty intraday stop loss is 14,850 and closing stop loss is 14,900. 

Bank Nifty intraday and closing stop loss are 35,000. 

For Existing Short Positions:

Nifty intraday and closing stop loss are 15,125.

Bank Nifty intraday and closing stop loss are 35,600.

For New Positions:

Buy Nifty with a stop loss of 14,850 and target 15,000, 15,025, 15,065, 15,100, 15,150. 

Sell Nifty in 15,100-15,150 range with a stop loss of 15,250 and target 15,065, 15,025, 14,975, 14,925. 

For New Positions:

Buy Bank Nifty with a stop loss of 35,000 and target 35,425, 35,500, 35,575, 35,700, 35,800, 36,000. 

Sell Bank Nifty in 35,800-36,000 range with a stop loss of 36,150 and target 35,750, 35,700, 35,600, 35,500, 35,425, 35,300. 

5 Stocks in F&O Ban:

New in Ban: Nil

Already in Ban: SAIL, PNB, BHEL, Bk Of Baroda, Sun TV

Out of Ban: Nil

Stock of the Day:

Buy AB Capital: Stop loss 125 and target 135, 140, 150. Attractive valuations, promoters increasing stake and value unlocking possible in Future.

Easy Trip Planners IPO Review: APPLY FOR BIG LISTING GAINS.

Positives:

Small Rs 510 crore size and small price 186-187 IPO. 

Fancy Business.

Strong Profitability and growth track record.

Negatives:

Highly competitive Business.

The sustainability of such performance is a question mark.

Other Income is as high as 65% of revenue from operations.