Anil Singhvi’s strategy June 28: Trend & Sentiment are Positive; Deciding level on Nifty stands at 11,850

Amid neutral domestic institutional investors (DIIs), foreign institutional investors (FII), global market and futures and options (F&O) cues, the short-term trend and sentiment of the domestic Indian market will be positive on Friday, June 28, 2019. The markets closed the monthly expiry on a flat note after a volatile session on Thursday, June 27, 2019. Nifty ended lower by 6 points at 11,841.55 while BSE Sensex was down 5.67 points and closed at 39,586.41. However, Bank Nifty rose 107.15 points to settle at 31,269.50. 

Tata Motors and Mahindra & Mahindra were the top gainers of the day – up by 2.48% and 2.32% respectively. 

Zee Business's Managing Editor Anil Singhvi's Market Strategy for June 28: 
11,850 and 31,150 are going to be the deciding levels on Nifty and Bank Nifty respectively. 
The small and medium day range for trading on Nifty lies in the range of 11,825-11,900 and 11,800-11,925 respectively while the bigger range stands at 11,750-11,975
Day range for trading on Bank Nifty stands at 31,000-31,500. 
Strong support zone on the two indices, Nifty and Bank Nifty, stands at 11,725-11,750 and 30,800-30,850 respectively.

For Existing Long Positions:
Nifty intraday stop loss 11,750 and closing stop loss 11,800. 
Bank Nifty intraday stop loss 31,150 and closing basis stop loss 30,850. 

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For Existing Short Positions:
Nifty intraday stop loss 11,925 and closing stop loss 11,850.  
Bank Nifty intraday and closing stop loss 31,500. 

For New Positions:
Buy Nifty with a stop loss of 11,800 and target 11,900, 11,925, 11,975. 
Sell Nifty in 11,950-11,975 range with a stop loss of 12,000 and target 11,900, 11,875. 

Buy Bank Nifty in 31,000-31,150 range with a stop loss of 30,900 and target 31,250, 31,450. 
Sell Bank Nifty in 31,450-31,500 range with a stop loss of 31,550 and target 31,300, 31,200. 

In F&O Ban: Nil
Out of Ban: IDBI, Adani Power

The put-call ratio (PCR) stands at 1.51 and the volatility index (VIX) is 14.65.