Indian share market on Thursday, June 7, 2018, ended the day in green after a strong day of trading. The Nifty closed higher by 83.70 points (0.78%) to end the day at 10,768.35, while NiftyBank was up by 150.20 points (+0.57%) and ended at 26,517.80.

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Amid positive Future and Option (F&O) sentiments, neutral foreign institutional investors (FII), global outlook and strong  Domestic Institutional Investors (DIIs) stance, the trend of the market is going to be positive on June 8, 2018. 

Zee Business's Managing Editor Anil Singhvi's Market Strategy for June 8:

10,725-10,775 is going to see a small trade range in Nifty, while 10,675-10,825 will be the bigger range for trade. 

In case of Nifty, 10,700-10,725 is going to be the buy range and 10,775-10,800 will be acting as the best sell range.

26,500 is going to be the deciding level at BankNifty. 

Small trade range at BankNifty stands at 26,350-26,650 and the bigger range will be 26,250-26,750.

Anil Singhvi suggests, traders should reduce their buying positions on Nifty and BankNifty if it closes below the mark of 10,675 and 26,250 respectively. 

If Nifty closes below 10,675 then it is going to be a negative sign for the market and if it goes above the mark of 10,775 then it should be treated as a positive sign for the market. 

Buy and Sell Strategy at Nifty  

Buy Nifty if the open gap is down with a stop loss of 10,675 and target of 10,750-10,765-10,800. 

Nifty should be sold with a stop loss of 10,825 and target of 10,725-10,700.

Buy and Sell  Strategy at BankNifty  

Buy BankNifty below 26,350 with a stop loss of 26,250 and target of 26,500.

Sell BankNifty with the stop loss of 26,650 and target of 26,375-26,300.

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The put-call ratio (PCR) for June 8 stands at 1.49 and volatility index (VIX) is 12.78. 

Enters F&O Ban: Nil

Already In Ban: Dewan Housing Finance Corporation Limited (DHFL) and Balrampur Chini.

Stock of the day: Gujarat State Fertilizers and Chemicals Ltd (GSFC).