Anil Singhvi’s Strategy June 12: Day support zone on Nifty is 9,500-9,600 & Bank Nifty is 19,650-19,850

Anil Singhvi’s Strategy June 12: Amid negative global market, foreign institutional investors (FIIs), domestic institutional investors (DIIs), sentiment and neutral futures & options (F&O) cues, the short-term trend of the Indian stock markets will be neutral on Friday, June 12, 2020. 

Domestic equity benchmarks on Thursday, June 11, 2020, plunged more than two per cent amid weak global cues. Sensex at Bombay Stock Exchange declined 709 points or 2.07 per cent, to close at 33,538. Similarly, the Nifty at National Stock Exchange settled 214 points, or 2.12 per cent, down at 9,902. Bank Nifty fell 575 points, or 2.72 per cent, to 20,525. In the broader market at BSE, Mid-cap fell 1.41 per cent while Small-cap lost 1.04 per cent.

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Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for June 12: 

Day support zone on Nifty is 9,500-9,600, below that 9,250-9,400 is the strong support zone and the higher range is 9,725-9,825. 

Day Support Range on Bank Nifty is 19,650-19,850 and strong support zone is 19,200-19,300 and higher Range is 20,200-20,400.

Put-Call Ratio (PCR) is 1.40 and India Volatility Index (VIX) up 1% at 29.66. 

For Existing Long Positions:

Nifty intraday and closing stop loss 9,500.

Bank Nifty intraday and closing stop loss 19,500. 

For Existing Short Positions:

Nifty intraday and closing stop loss 9,750.

Bank Nifty intraday and closing stop loss 20,000.

For New Positions:

Buy Nifty in 9,500-9,600 range with a stop loss of 9,400 and target 9,650, 9,725, 9,800.

Only for high-risk skilled traders with strict stop loss.

The nifty short call will be given at 9:08 AM depending on opening levels.

Buy Bank Nifty in 19,200-19,300 range with a stop loss of 19,000 and target 19,500, 19,650, 19,850, 19,950.

Only for high-risk skilled traders with strict stop loss.

Bank Nifty buy-sell strategy only after the Supreme Court verdict in interest moratorium.

F&O Ban Update:

Enter in Ban: Adani Enterprises, Escorts 

Out of Ban: Vodafone Idea, NCC

Already in Ban: BHEL, PVR, JSPL, Just Dial