Anil Singhvis Market Strategy June 21: Power stocks in focus; SREI Infra stock of the day

Amid positive trend from domestic institutional investors (DIIs), neutral Future and Options (F&O), global outlook and negative foreign institutional investors (FII) cues, it seems that the trend of the Indian market will be neutral on June 21, 2018. 

But the traders are advised to be cautious while trading in the market today. 

Zee Business's Managing Editor Anil Singhvi's Market Strategy for June 21: 

Short Covering in Nifty and Buying in BankNifty was seen yesterday i.e. on June 20. 

10,750 and 26,500 are going to be the deciding level on the Nifty and BankNifty respectively. 

Small trade range on Nifty is going to be between 10,735-10,800, while 107,00-10,835 will be the bigger trade range. 

In case of BankNifty, the small trade range stands at 26,400-26,650 while 26,300-267500 will be treated as the bigger range.

10,825-10,850 and 26,700-26,750 are going to be profit booking zone at Nifty and BankNifty respectively. 

Anil Singhvi suggests that traders should reduce their buying positions on Nifty and BankNifty if they close below the mark of 10,700 and 26,300 respectively. 

If Nifty closes above the mark of 10,800 than traders can start new trades in the market. 

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Sell and Buy Strategy for Nifty:

Buy Nifty with a stop loss of 10700 and target of 10800-10835
Sell nifty in the trading range of 10,825-10,835 with a stop loss of 10,850 and target of 10800-10775.

Buy and Sell strategy at BankNifty:

Buy BankNifty with a stop loss of 26,400 and a target of 26,650-26,750.
Sell BankNifty near 26,700 with a stop loss of 26,800 and a target of 26,550. 

The put-call ratio (PCR) for June 21 stands at 1.56 and volatility index (VIX) is 12.17. 

Positive: Power

Negative: Welded Steel Pipes

Enters F&O Ban: JP Associates 

Out of Ban: Nil

3 Already In Ban: Dewan Housing Finance Corporation Limited (DHFL), Jet Airways and Infibeam. 

Stock of the Day: SREI Infra