Amid neutral global markets, domestic institutional investors (DIIs), positive futures & options (F&O), sentiment and negative foreign institutional investors (FIIs) cues, the short-term trend of the Indian stock markets will be positive on Friday, June 18, 2021. 

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Domestic equity benchmarks ended a volatile session with modest losses on Thursday, June 17, 2021. The Sensex ended below the 52,000-mark while the Nifty slipped below the 15,700 level. The S&P BSE Sensex lost 178.65 points or 0.34 per cent to end at 52,323.33. The Nifty 50 index fell 76.15 points or 0.48 per cent to settle at 15,691.40. The Bank Nifty index closed 398.10 points or 1.14 per cent lower at 34,605.40. 

In the broader markets, the BSE MidCap index cracked 1.29 per cent while the BSE SmallCap index slipped 0.58 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for June 18: 

Reduce Long Positions if Nifty and Bank Nifty close below 15,575 and 34,400.

Day support zone on Nifty is 15,575-15,625, below that 15,450-15,525 is strong Buy zone.

Day higher zone on Nifty is 15,750-15,800, above that 15,825-15,875 is a strong Sell zone. 

 

Day support zone on Bank Nifty is 34,375-34,450, below that 34,150-34,300 is a strong Buy zone. 

Day higher zone on Bank Nifty is 34,800-34,950, above that 35,050-35,150 is a strong Sell zone. 

 

Small day range for trading on Nifty is 15,625-15,750, while the medium and bigger day ranges are 15,575-15,800 and 15,525-15,875, respectively. 

Small day range for trading on Bank Nifty is 34,450-34,800, while the medium and bigger day ranges are 34,375-34,950 and 34,150-35,150, respectively. 

 

FIIs Index long position at 71% Vs 72%.

PCR at 1.22 Vs 1.12.

India VIX up by 3% at 15.29.

For Existing Long Positions:

Nifty intraday and closing stop loss are 15,575.

Bank Nifty intraday and closing stop loss are 34,400.

For Existing Short Positions:

Nifty intraday and closing stop loss are 15,925.

BankNifty intraday and closing stop loss are 35,050.

For New Positions:

Buy Nifty in 15575-15625 range with a stop loss of 15,500 and target 15,700, 15,750, 15,775, 15,800, 15,825, 15,875.

Sell Nifty in 15,800-15,875 range with a stop loss of 15,925 and target 15,750, 15,700, 15,625, 15,600.

For New Positions:

Buy BankNifty in 34,375-34,450 range with a Strict Stop Loss of 34,300 and target 34,600, 34,725, 34,800, 34,900, 34,975.

Sell BankNifty in 34900-35100 range with a stop loss of 35,300 and target 34,800, 34,725, 34,600, 34,450.

F&O Ban Update:

Out of Ban: Nalco

5 Already In Ban: BHEL, Canara Bk, PNB, Adani Ports, Escorts

New In Ban: Nil