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 9, 2021. 

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The domestic stocks markets ended with tiny losses on Tuesday, June 8, 2021. The S&P BSE Sensex slipped 52.94 points or 0.10 per cent to end at 52,275.57. The Nifty 50 index lost 11.55 points or 0.07 per cent to settle at 15,740.10. The Bank Nifty index lost 358.35 points or 1.01 per cent and closed at 35,085.30. 

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In the broader market on the BSE, the MidCap index advanced 0.38 per cent and the SmallCap index climbed 0.93 per cent. 

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for June 9: 

Day support zone on Nifty is 15,675-15,700, below that 15,575-15,625 is strong Buy zone.

Day higher zone on Nifty is 15,775-15,825, above that 15,875-15,900 is a Profit-booking zone. 

Day support zone on Bank Nifty is 34,700-34,900, below that 34,400-34,600 is a strong Buy zone.

Day higher zone on Bank Nifty is 35,325-35,450, above that 35,525-35,650 is a Profit-booking zone.

The Small Day Range for trading on Nifty is 15,675-15,775, while the medium and bigger day ranges are 15,625-15,825 and 15,575-15,875 respectively. 

The Small Day Range for trading on Bank Nifty is 34,900-35,350, while the medium and bigger day ranges are 34,700-35,450 and 34,525-35,525, respectively. 

FIIs Index long unchanged at 84%

PCR at 1.30 Vs 1.41

India VIX down by 2% at 15.23

For Existing Long Positions:

Nifty intraday stop loss is 15,650 and closing stop loss is 15,575.

Bank Nifty intraday and closing stop loss are 34,900.

For Existing Short Positions:

Nifty intraday and closing stop loss are 15,825.

Bank Nifty intraday stop loss is 35,550 and closing stop loss is 35,650. 

For New Positions:

Buy Nifty with a stop loss of 15,575 and target 15,775, 15,800, 15,825, 15,875, 15,900.

Sell Nifty with a stop loss of 15,825 and target 15,700, 15,675, 15,625, 15,600, 15,575.

For New Positions:

Buy Bank Nifty in 34,525-34,700 range with a stop loss of 34,400 and target 34,900, 34,975, 35,075, 35,150, 35,300.

Aggressive Traders Buy Bank Nifty with a Strict Stop Loss of 34,875 and target 35,275, 35,350, 35,425, 35,525, 35,650.

Sell Bank Nifty in 35375-35525 range with a stop loss of 35,650 and target 35,300, 35,175, 35,075, 34,975, 34,900.

Aggressive Traders Sell Bank Nifty with a Strict Stop Loss of 35,450 and target 34,950, 34,700, 34,600, 34,525, 34,425.

F&O Ban Update:

New in Ban: Nalco

4 Already in Ban: PNB, Sun TV, SAIL, Indiabulls Housing Finance

Out of Ban: Nil