7th April Strategy:
Global: Neutral
FII: Negative
DII: Neutral
F&O: Neutral
Sentiment: Cautious
Trend: Negative
Editors Take:
Wait and watch the global recovery for next two days.
Expectations of improvement in situation vs reality needs to be closely monitored
7th April Strategy:
Nifty 7850-8050 BankNifty 16900-17250 Next Support Zone
Nifty 8250-8350, 8500-8650 BankNifty 18000-18200, 18500-18750 Strong Sell Zone
Nifty 8050-8350 Small Day Range, 8000-8500 Medium Range, 7850-8650 Bigger Range
BankNifty 17250-18000 Small Day Range, 17100-18500 Medium Range, 16900-18750 Bigger Range
For Existing Long Positions:
Nifty intraday n Closing SL 8050
BankNifty intraday n Closing SL 17100
For Existing Short Positions:
Nifty intraday n Closing SL 8350
BankNifty intraday n Closing SL 18200
Trigger stop loss and exit at gap up open from 3rd April short position: Nifty 7800 Put (given at 115) and BankNifty 17000 put (given at 490)
For New Positions:
Buy Nifty:
SL 8000 Tgt 8350, 8500, 8650, 8750
Sell Nifty in 8575-8675 range:
SL 8750 Tgt 8500, 8375, 8250, 8200
For New Positions:
Buy BankNifty:
SL 17100 Tgt 18000, 18200, 18350, 18500, 18750
Sell BankNifty in 18500-18750 range:
SL 19000 Tgt 18350, 18200, 18050, 17850
PCR 1.18 VIX Down 8% to 55.30
No stocks in F&O Ban
Sectors:
Positive: Pharma, Metals, Banks
