Amid negative global markets, neutral foreign institutional investors (FIIs), domestic institutional investors (DIIs), futures & options (F&O) and cautious sentiment cues, the short-term trend of the Indian stock markets will be positive on Monday, June 21, 2021. 

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Domestic equity benchmarks ended almost flat on Friday, June 18, 2021. The S&P BSE Sensex gained 21.12 points or 0.04 per cent to close at 52,344.45. The Nifty 50 index fell 8.05 points or 0.05 per cent and settled at 15,683.35. The Nifty Bank index also lost 47.40 points or 0.14 per cent to end at 34,558. 

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However, a deeper correction was seen in the broader market at the BSE, where the BSE MidCap closed 0.70 per cent lower and BSE SmallCap fell 0.89 per cent. 

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

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

Day support zone on Nifty is 15,500-15,575, below that 15,375-15,450 is a strong Buy zone. 

Day higher zone on Nifty is 15,600-15,675, above that 15,750-15,800 is a strong Sell zone.

 

Day support zone on Bank Nifty is 33,900-34,150, below that 33,600-33,700 is a strong Buy zone.

Day higher zone on Bank Nifty is 34,550-34,650, above that 34,800-34,950 is a strong Sell zone.

 

The small day range for trading on Nifty 15,575-15,700, while the medium and bigger ranges are 15,500-15,750 and 15,450-15,800, respectively. 

The small day range for trading on Bank Nifty is 33,900-34,550, while the medium and bigger ranges are 33,700-34,650, and 33,600-34,800, respectively. 

 

FIIs Index long position at 68% Vs 71%.

PCR at 1.18 Vs 1.22.

India VIX down by 3% at 14.80.

For Existing Long Positions:

Nifty intraday and closing stop loss are 15,575.

Bank Nifty intraday and closing stop loss are 34,375.

For Existing Short Positions:

Nifty intraday and closing stop loss are 15,775.

Bank Nifty intraday and closing stop loss are 34,800.

For New Positions:

Sell Nifty with a stop loss 15,775 and target 15,575, 15,525, 15,450, 15,400, 15,375.

Buy Nifty in 15,450-15,525 range with a Strict Stop Loss 15,350 and target 15,575, 15,625, 15,675, 15,700.

For New Positions:

Sell Bank Nifty with a stop loss of 34,800 and target 34,375, 34,150, 33,900, 33,700, 33,600.

Buy Bank Nifty in 33,600-33,900 range with a Strict Stop Loss 33,500 and target 34,150, 34,375, 34,550, 34,600, 34,650.

F&O Ban Update:

New In Ban: Sun TV

Out Of Ban: Canara Bank, Escorts

3 Already In Ban: BHEL, PNB, Adani Ports