Anil Singhvi’s Strategy July 1: Day support zone on Nifty is 10,200-10,250 & Bank Nifty is 10,350 to 10,400

Anil Singhvi’s Strategy July 1: Amid positive global markets, domestic institutional investors (DIIs), negative foreign institutional investors (FIIs), neutral futures & options (F&O) and sentiment cues, the short-term trend of the Indian stock markets will be positive on Wednesday, July 1, 2020.

Domestic equity benchmarks on Tuesday, June 30, 2020, closed with marginal losses even as global cues were positive. PSU banks and pharma stocks tumbled. Rising coronavirus cases across the globe spooked investors. Sensex at Bombay Stock Exchange declined 46 points, or 0.13 per cent, to close at 34,916. Similarly, the Nifty at National Stock Exchange fell 10 points, or 0.1 per cent, to settle at 10,302. However, Bank Nifty gained 11 points, or 0.05 per cent, to settle at 21,370. 

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Broader indices at BSE also logged losses. Mid-cap depreciated 0.14 per cent while Small-cap lost 0.75 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for July 1: 

Day support zone on Nifty is 10,200-10,250, below that 10,125-10,175 is strong support zone.

Day higher range on Nifty is 10,350-10,400, above that 10,475-10,550 is strong profit booking range.

Day support zone on Bank Nifty is 21,050-21,200, below that 20,650-20,950 is the next support zone.

Day higher range on Bank Nifty is 21,600-21,800, above that 22,000-22,250 is the strong sell zone.

Put-Call Ratio (PCR) is 1.19, India Volatility Index (VIX) up 1% at 29.12.

For Existing Long Positions:

Nifty intraday and closing stop loss 10,175.

Bank Nifty intraday stop loss 21,000 and closing stop loss 21,300.

For Existing Short Positions:

Nifty intraday and closing stop loss 10,425.

BankNifty intraday and closing stop loss 21,800.

For New Positions:

Buy Nifty in 10,200-10,250 range with a stop loss of 10,175 and target 10,300, 10,350, 10,400, 10,450.

Sell Nifty in 10,375-10,450 range with a stop loss of 10,500 and target 10,325, 10,275, 10,225.

Buy Bank Nifty in 20,900-21,050 range with a stop loss of 20,800 and target 21,200, 21,325, 21,425, 21,500.

Sell Bank Nifty in 21,600-21,800 range with a stop loss of 22,000 and target 21,500, 21,425, 21,325, 21,225.

New In F&O Ban: 

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