Anil Singhvi’s Strategy June 10: Day support zone on Nifty is 15,575-15,625 & Bank Nifty is 34,425-34,625
Amid neutral global markets, foreign institutional investors (FIIs), domestic institutional investors (DIIs), positive futures & options (F&O) and sentiment cues, the short-term trend of the Indian stock markets will be positive on Thursday, June 10, 2021.
Amid neutral global markets, foreign institutional investors (FIIs), domestic institutional investors (DIIs), positive futures & options (F&O) and sentiment cues, the short-term trend of the Indian stock markets will be positive on Thursday, June 10, 2021.
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Domestic stocks markets fell more than half a per cent amid mixed global cues on Wednesday, June 9, 2021. The Sensex closed below the 52,000 mark while the Nifty settled below the 15,700 level. The S&P BSE Sensex declined 333.93 points, or 0.64 per cent, to finish at 52,941.64. The Nifty 50 at the National Stock Exchange also fell 104.75 points, or 0.67 per cent, to close at 15,635.35. The Bank Nifty index lost 284.80 points, or 0.81 per cent, to settle at 34,800.50.
In the broader market at BSE, the S&P BSE MidCap and SmallCap indices ended the session 0.71 per cent and 0.95 per cent lower, respectively.
Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for June 10:
Day support zone on Nifty is 15,575-15,625, below that 15,450-15,525 is a strong Buy zone.
Day higher zone on Nifty is 15,675-15,700, above that 15,750-15,800 is Profit-booking zone.
Day support zone on Bank Nifty is 34,425-34,625, below that 34,150-34,300 is a strong Buy zone.
Day higher zone on Bank Nifty is 34,975-35,175, above that 35,350-35,450 is strong Sell zone.
Small Day Range for trading on Nifty 15575-15675, while the medium and bigger ranges are 15,525-15,700 and 15,450-15,750, respectively.
Small Day Range for trading on Bank Nifty is 34,625-34,975, while the medium and bigger ranges are 34,525-35,175 and 34,425-35,325.
FIIs Index long at 86% Vs 84%.
PCR at 1.12 Vs 1.30. Light, comfortable and near oversold levels on Weekly Expiry day.
India VIX down by 3% at 14.75.
For Existing Long Positions:
Nifty intraday and closing stop loss are 15,550.
Bank Nifty intraday stop loss is 34,400 and closing stop loss is 34,800.
For Existing Short Positions:
Nifty intraday and closing stop loss are 15,825.
Bank Nifty intraday and closing stop loss are 35,100.
For New Positions:
Buy Nifty in 15,450-15,525 range with a stop loss of 15,400 and target 15,575, 15,625, 15,675, 15,700.
Aggressive Traders Buy Nifty with a Strict stop loss of 15,550 and target 15,675, 15,700, 15,750, 15,775, 15,800.
Sell Nifty in 15,700-15,775 range with a stop loss of 15,825 and target 15,675, 15,625, 15,575, 15,525.
For New Positions:
Buy Bank Nifty in 34,400-34,525 range with a stop loss of 34,300 and target 34,625, 34,700, 34,800, 34,900, 34,975.
Aggressive Traders Buy Bank Nifty with a Strict stop loss of 34,600 and target 34,975, 35,075, 35,175, 35,300, 35,375, 35,450.
Sell Bank Nifty in 35300-35500 range with a stop loss of 35,650 and target 35,175, 35,075, 34,975, 34,900, 34,800.
Aggressive Traders Sell Bank Nifty on Gap-up Opening with a Strict stop loss of 35,100 and target 34,700, 34,625, 34,525, 34,425, 34,300.
F&O Ban Update:
New In Ban: BHEL, Canara Bank
Out Of Ban: PNB, Indiabulls Housing Finance
3 Already In Ban: Sun TV, SAIL, Nalco
08:40 AM IST