Anil Singhvi’s Strategy June 11: Big Volatility expected in Telecom Stocks; Day support zone on Nifty is 10,000-10,050

Anil Singhvi’s Strategy June 11: Amid negative global market, foreign institutional investors (FIIs), positive domestic institutional investors (DIIs), futures & options (F&O) and neutral sentiment cues, the short-term trend of the Indian stock markets will be positive on Thursday, June 11, 2020.

The domestic stocks markets closed with decent gains on Wednesday, June 10, 2020. The 30-share benchmark Sensex settled 290 points, or 0.86 per cent, higher at 34,247. Similarly, the NSE Nifty climbed 70 points, or 0.69 per cent, to 10,116. Bank Nifty gained 375 points, or 1.81 per cent, to close at 21,100. In the broader market at BSE, Mid-cap climbed 0.81 per cent while Small-cap surged 0.92 per cent.

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Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for June 11: 

Big volatility possible due to a Supreme Court verdict on telecom companies and weekly expiry.

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

Day support zone on Nifty is 10,000-10,050 and Day Higher Range is 10,150-10,200.

Big Support Zone on Bank Nifty is 20,300-20,550 and Big Higher Range is 21,500-21,800.

Day Support Range on Bank Nifty is 20,650-20,850 and Day Higher Range is 21,200-21,250.

Small day range for trading on Nifty is 10,050-10,175, while the medium and bigger ranges are 10,000-10,275 and 9,950-10,325 respectively. 

Small day range for trading on Bank Nifty is 20,925-21,250, while the medium and bigger ranges are 20,825-21,500 and 20,600-21,600 respectively.

Put-Call Ratio (PCR) is 1.36 and India Volatility Index (VIX) down 3% at 29.44.

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 21,250.

For New Positions:

Buy Nifty in 10,000-10,050 range 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 in 20,650-20,850 range with a stop loss of 20,500 and target 20,950, 21,050, 21,175, 21,250.

Sell Bank Nifty in 21,500-21,600 range with a stop loss of 21,800 and target 21,250, 21,150, 20,950.

F&O Ban Update:

Enter in Ban: BHEL, PVR

Already in Ban: JSPL, Vodafone Idea, Just Dial, NCC

Result Analysis

Shriram Transport Futures: 600-610 Support Zone; 645-660 Higher Range; Weak Results, Asset quality stable.