Anil Singhvi’s Strategy April 7: Day support zone on Nifty is 14,550-14,600 & Bank Nifty is 32,250-32,350
Anil Singhvi’s Strategy April 7: Amid neutral global markets, FIIs, DIIs, F&O and sentiment cues, the short-term trend of the Indian stock markets will be neutral on Wednesday, April 7, 2021.
Anil Singhvi’s Strategy April 7: Amid neutral global markets, foreign institutional investors (FIIs), domestic institutional investors (DIIs), futures & options (F&O) and sentiment cues, the short-term trend of the Indian stock markets will be neutral on Wednesday, April 7, 2021.
At the stock markets, after a solid opening on Tuesday, April 6, 2021, the S&P BSE Sensex wiped out nearly all its gains, to end 42.07 points or 0.09 per cent higher at 49,201.39. The Nifty 50 rose 45.70 points or 0.31 per cent to 14,684. However, Bank Nifty plunged 177.50 points or 0.54 per cent to close at 32,501.35.
In the broader market, the BSE Mid-cap index advanced 1 per cent and the Small-cap index climbed 0.8 per cent.
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Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for April 7:
Day support zone on Nifty is 14,550-14,600, below that 14,450-14,500 is a strong Buy zone.
Day higher zone on Nifty is 14,750-14,800, above that 14,850-14,875 is strong Profit-booking zone
Day support zone on Bank Nifty is 32,250-32,350, below that 31,850-32,000 is a strong support zone.
Day higher zone on Bank Nifty is 32,850-33,000, above that 33,150-33,300 is strong Sell zone.
The small day range for trading on Nifty is 14,625-14,775, while the medium and bigger day ranges are 14,575-14,850 and 14,500-14,875, respectively.
The small day range for trading on Bank Nifty is 32,350-33,000, while the medium and bigger day ranges are 32,000-33,150 and 31,850-33,300, respectively.
FIIs Index long at 56% Vs 54%.
PCR at 1.13 Vs 1.07.
India VIX 2% down at 20.84.
For Existing Long Positions:
Nifty intraday stop loss is 14,575 and closing stop loss is 14,500.
Bank Nifty intraday and closing stop loss are 32,300.
For Existing Short Positions:
Nifty intraday and closing stop loss are 14,800.
Bank Nifty intraday and closing stop loss are 33,000.
For New Positions:
Buy Nifty in 14,575-14,625 range with a stop loss of 14,500 and target 14,675, 14,700, 14,735, 14,775, 14,800, 14,850.
Sell Nifty in 14,750-14,850 range with a stop loss of 14,900 and target 14,700, 14,650, 14,600, 14,575.
For New Positions:
Buy Bank Nifty in 32,000-32,350 range with a stop loss of 31,850 and target 32,425, 32,500, 32,575, 32,675, 32,850, 32,975.
Sell Bank Nifty in 32,975-33,300 range with a stop loss of 33,500 and target 32,850, 32,675, 32,575, 32,500, 32,425, 32,350.
SAIL Enters F&O Ban Again
Stock Of The Day:
Buy Hind Zinc: Stop loss 295 and target 317, 325, 335. Hind Zinc Divestment expected soon. Cheapest Stock in Sector. Good Dividend expected.
Macrotech Developers IPO Preview: AVOID FOR LISTING GAINS
Excellent track record of Promoters.
A big player in Mumbai Real Estate.
Huge Debt and Interest Cost.
No significant growth in Revenue and Profit.
Valuations not attractive.
Only one domestic Mutual Fund invested in Anchor Book.
Barbeque Nation Listing Preview:
Given AVOID rating for Listing Gains.
Expected to list near issue price of 500.
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