Anil Singhvi’s Strategy June 10: Amid neutral global market, sentiment, positive foreign institutional investors (FIIs), futures & options (F&O) and negative domestic institutional investors (DIIs) cues, the short-term trend of the Indian stock markets will be positive on Wednesday, June 10, 2020.

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Domestic equity benchmarks on Tuesday, June 9, 2020, declined 1.2 per cent amid weak global cues. Sensex at Bombay Stock Exchange fell 414 points to close at 33,957. Similarly, the Nifty at National Stock Exchange settled 121 points down at 10,047. Bank Nifty fell 462 points, or 2.18 per cent, to 20,725. In the broader market at BSE, Mid-cap slipped 0.21 per cent while Small-cap lost one per cent.

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Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for June 10: 

Day Support Zone on Nifty is 9,825-9,975 and the Higher Range is 10,275-10,400.

Day Support Zone on Bank Nifty is 20,300-20,550 and the Higher Range is 21,200-21,500.

The small day range for trading on Nifty stands at 10,000-10,125, while the medium and bigger ranges are 9,950-10,175 and 9,825-10,300, respectively.

The small day range for trading on Bank Nifty stands at 20,550-20,950, while the medium and bigger ranges are 20,425-21,050 and 20,325-21,175, respectively.

Put-Call Ratio (PCR) is 1.20 and India Volatility Index (VIX) up 2% at 30.21. 

For Existing Long Positions:

Nifty intraday and closing stop loss 10,000.

Bank Nifty intraday and closing stop loss 20,500.

For Existing Short Positions:

Nifty intraday and closing stop loss 10,200.

Bank Nifty intraday and closing stop loss 21,200.

For New Positions:

Buy Nifty with a stop loss of 9,950 and target 10,125, 10,175, 10,275.

Sell Nifty in 10,275-10,325 range with a stop loss of 10,400 and target 10,175, 10,125.

Buy Bank Nifty with a stop loss of 20,500 and target 20,950, 21,050, 21,175, 21,500.

Sell Bank Nifty in 21,050-21,200 range with a stop loss of 21,250 and target 20,950, 20,800, 20,650, 20,550. 

F&O Ban Update:

Enter in Ban: JSPL

Out of Ban: BHEL 

Already in Ban: Vodafone Idea, Just Dial, NCC