Anil Singhvi’s Strategy March 11: Nifty support zone is 16,450-16,500 & Bank Nifty is 33,825-33,975

The domestic equity markets climbed more than one and a half per cent on Thursday, March 10, 2022, amid gains in other Asian share markets

Bank Nifty support levels are 34,225, 34,100, 34,000, 33,825, 33,550, 33,275, 33,150.

Amid neutral global markets, foreign institutional investors (FIIs), future & options (F&O), sentiment and positive domestic institutional investors (DIIs) cues, the short-term trend of the Indian stock markets will be negative on Friday, March 11, 2022.

The domestic equity markets climbed more than one and a half per cent on Thursday, March 10, 2022, amid gains in other Asian share markets. The S&P BSE Sensex closed above 55,400 points while the NSE Nifty was ended near the 16,600 level.

The Sensex rose 817.06 points, or 1.50 per cent, to trade at 55,464.39. The Nifty 50 also gained 249.55 points, or 1.53 per cent, to trade at 16,594.90. In the sectoral indices at the NSE, the Bank Nifty added 660.15 points, or 1.95 per cent, to settle at 34,475.60.

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In the broader markets at the BSE, the S&P BSE MidCap and S&P BSE SmallCap rose 1.06 per cent and 1.18 per cent, respectively.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for March 11:

Nifty support zone is 16,450-16,500, below that 16,200-16,350 is a strong buy Zone.

Nifty higher zone is 16,650-16,750, above that 16,800-16,875 is a Profit booking zone.

Bank Nifty support zone is 33,825-33,975, below that 33,150-33,275 is a strong buy zone.

Bank Nifty higher zone is 34,950-35,225, above that 35,375-35,550 is a profit booking zone.

Nifty support levels are 16,500, 16,450, 16,350, 16,250, 16,200, 16,125.

Nifty higher levels are 16,750, 16,800, 16,825, 16,875, 16,975, 17,050.

Bank Nifty support levels are 34,225, 34,100, 34,000, 33,825, 33,550, 33,275, 33,150.

Bank Nifty higher levels are 34,700, 34,900, 34,950, 35,100, 35,225, 35,375, 35,550, 35,750.

FIIs index long position at 42% Vs 40%.

PCR light & comfortable at 1.05 vs 0.92.

India VIX down by -7% at 25.58.

For Existing Long Positions:

Nifty Intraday stop loss is 16,425 and Closing stop loss is 16,350.

Bank Nifty Intraday stop loss is 34,000 and Closing stop loss is 33,800.

For Existing Short Positions:

Nifty Intraday and Closing stop loss are 16,800.

Bank Nifty Intraday and Closing stop loss are 35000.

For New Positions:

Buy Nifty in 16,350-16,450 range with a stop loss of 16,200 and target 16,500, 16,600, 16,650, 16,750, 16,800, 16,825.

Sell Nifty in 16750-16825 range with a stop loss of 16,900 and target 16,650, 16,600, 16,500, 16,450, 16,425, 16,350.

For New Positions:

Aggressive Traders Buy Bank Nifty 33,825-34,000 range with a Strict stop loss of 33,700 and target 34,225, 34,400, 34,475, 34,700, 34,900, 35,100, 35,225, 35,375.

Sell Bank Nifty in 34,900-35,225 range with a stop loss of 35,550 and target 34,725, 34,500, 34,425, 34,225, 34,100, 34,000, 33,825, 33,550.

No stock in F&O Ban

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