Amid neutral global markets, 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 Wednesday, June 16, 2021. 

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Domestic equity benchmarks ended with decent gains on Tuesday, June 15, 2021. The S&P BSE Sensex rose 221.52 points or 0.42 per cent to close at 52,773.05. The Nifty 50 index added 57.40 points or 0.36 per cent to end at 15,869.25. The Nifty bank index gained 297.15 points or 0.85 per cent to settle higher at 35,247.75. 

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The broader market at BSE also rose. The Mid-Cap index gained 0.60 per cent and the Small-Cap index added 0.44 per cent.               

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for June 16: 

Day support zone on Nifty is 15,800-15,825, below that 15,675-15,750 is a strong Buy zone.

Day higher zone on Nifty is 15,900-15,925, above that 15,975-16,000 is a Profit-booking zone.

Day support zone on Bank Nifty is 34,900-35,050, below that 34,650-34,800 is a strong Buy zone. 

Day higher zone on Bank Nifty is 35,375-35,450, above that 35,550-35,650 is a strong Sell zone.

The Small Day Range for trading on Nifty is 15,800-15,900, while the medium and bigger ranges are 15,750-15,950 and 15,675-16,000, respectively. 

The Small Day Range for trading on Bank Nifty is 35,050-35,375, while the medium and bigger ranges are 34,900-35,450 and 34,800-35,550, respectively. 

FIIs Index long at 74% Vs 75%.

PCR unchanged at 1.42.

India VIX down by 1% at 14.61.

For Existing Long Positions:

Nifty intraday and closing stop loss are 15,725.

BankNifty intraday stop loss is 34,900 and closing stop loss is 34,800.

For Existing Short Positions:

Nifty intraday and closing stop loss are 15,925.

BankNifty Intraday stop loss is 35,550 and closing stop loss is 35,650. 

For New Positions:

Buy Nifty if opens with Gap-down with a stop loss of 15,725 and target 15,900, 15,925, 15,975, 16,000.

Sell Nifty in 15,975-16,000 range with a stop loss of 16,050 and target 15,900, 15,875, 15,850, 15,800.

For New Positions:

Buy BankNifty in 34800-34950 range with a stop loss of 34,650 and target 35,050, 35,150, 35,250, 35,350.

Aggressive Traders Buy BankNifty with a Strict stop loss of 34,900 and target 35,375, 35,450, 35,550, 35,650.

Sell BankNifty in 35,450-35,650 range with a stop loss of 35,825 and target 35,375, 35,300, 35,250, 35,175, 35,075.

F&O Ban Update:

New In Ban: Adani Ports, Escorts

Out Of Ban: Indiabulls Housing Finance 

4 Already In Ban: Sun TV, Nalco, Canara Bank, PNB

Dodla Dairy IPO Preview: APPLY FOR REASONABLE LISTING GAINS AND LONG TERM

Positives:

Experienced Promoters and Strong Growth Outlook.

Attractive Valuations.

IFC increasing stake in IPO.

Negatives:

Limited presence in Southern India.

KIMS IPO Preview: ONLY HIGH RISK TAKING INVESTORS SHOULD APPLY FOR LONG TERM.

Positives:

Experienced Management.

Consistent growth in Revenue.

Negatives:

Limited presence in AP and Telangana.