Anil Singhvi’s Strategy June 2: Day Support Zone on Nifty is 9,600-9,700 and Bank Nifty is 19,450-19,650
Anil Singhvi’s Strategy June 2: Amid neutral global market, F&O, positive FIIs and negative DIIs, the short-term trend of the Indian stock markets will be positive today.
Anil Singhvi’s Strategy June 2: Amid neutral global market, futures & options (F&O), positive foreign institutional investors (FIIs), sentiment and negative domestic institutional investors (DIIs), cues, the short-term trend of the Indian stock markets will be positive on Tuesday, June 1, 2020.
Domestic equity benchmarks on Monday, June 1, 2020, surged for the fourth session in a row, driven by gains optimism heightened after the government began the process of unlocking the economy. Positive cues from global markets also boosted investors' sentiments. In the last four sessions, Sensex and Nifty, both, gained more than 8.5 per cent. After skyrocketing 1,250 points during the day, the 30-share index settled 879 points or 2.57 per cent higher at 33,304. Similarly, NSE Nifty surged 246 points or 2.57 per cent to finish at 9,826. The Nifty Bank gained 663 points or 3.43 per cent to settle at 19,959.
See Zee Business Live TV streaming below:
In the broader market at BSE, Mid-cap and Small-cap, both, outperformed the Sensex. Mid-cap rose 2.65 per cent and Small-cap climbed 3.03 per cent.
Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for June 2:
Day Support Zone on Nifty is 9,600-9,700 and the Higher Range is 9,925-9,975.
Day Support Zone on Bank Nifty is 19,450-19,650 and the Higher Range is 20,250-20,500.
The small day range for trading on Nifty is 9,735-9,860, while the medium and bigger ranges are 9,700-9,925 and 9,600-9,975 respectively.
The small day range for trading on Bank Nifty is 19,650-20,200, while the medium and bigger ranges are 19,500-20,500 and 19,300-20,700 respectively.
Put-Call Ratio (PCR) is 1.53 and the Volatility Index (VIX) up 2% at 30.74.
For Existing Long Positions:
Nifty intraday stop loss 9,700 and closing stop loss 9,575.
Bank Nifty intraday stop loss 19,600 and closing stop loss 19,300.
For Existing Short Positions:
Nifty intraday and closing stop loss 10,000.
Bank Nifty intraday and closing stop loss 20,250.
For New Positions:
Buy Nifty in 9,700-9,740 range with a stop loss of 9,575 and target 9,825, 9,875, 9,925, 9,975.
Sell Nifty in 9,925-9,975 range with a stop loss of 10,050 and target 9,875, 9,825.
Buy Bank Nifty in 19,450-19,650 range with a stop loss of 19,300 and target 19,900, 20,100, 20.200, 20,450.
Sell Bank Nifty in 20,400-20,500 range with a stop loss of 20,700 and target 20,250, 20,150, 20,050.
No Stock in F&O Ban
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.