Anil Singhvi’s Strategy June 15: Day support zone on Nifty is 9,800-9,850

Amid negative global market, foreign institutional investors (FIIs), positive domestic institutional investors (DIIs), neutral futures & options (F&O) and cautious sentiment cues, the short-term trend of the Indian stock markets will be neutral on Monday, June 15, 2020. 

Staging a rebound; the Indian markets ended in the green on Friday, June 12, 2020. The benchmark index at the Bombay Stock Exchange gained 243 points or 0.72 per cent to close at 33,781. While the index plunged 1,190 points in opening trade, it staged a recovery following positive cues in European markets and strong gains in Reliance Industries. Sentiment also improved after the Maharashtra government dispelled rumours of another lockdown in the state. The National Stock Exchange too recorded a gain of 0.72 per cent. The Nifty 50 settled 71 points lower at 9,973. It hit an intra-day low of 9,544. Similarly, Bank Nifty gained 129 points, or 0.63 per cent, and closed at 20,655. 

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for June 15: 

Day support zone on Nifty is 9,800-9,850 and the strong support zone is 9,550-9,600, while the strong sell zone is 10,000-10,175.

Day Support Range on Bank Nifty is 20,000-20,300 and the strong support zone is 19,550-19,850, while strong sell zone is 20,900-21,200. 

Put-Call Ratio (PCR) is 1.47 and India Volatility Index (VIX) up 4% at 30.82. 

For Existing Long Positions:

Nifty intraday and closing stop loss 9,800.

Bank Nifty intraday and closing stop loss 20,300.

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 in 9,725-9,850 range 9,700 and target 9,900, 10,000, 10,050.

Sell Nifty with a stop loss of 10,050, and target 9,900, 9,850, 9,800, 9,725.

Buy Bank Nifty in 20,000-20,300 range with a stop loss of 19,900 and target 20,500, 20,650, 20,750, 20,850.

Sell Bank Nifty with a stop loss of 21,000 and target 20,400, 20,300, 20,000.

F&O Ban Update:

Enter in Ban: Vodafone Idea 

Out of Ban: Escorts, JSPL

Already in Ban: Adani Ent, BHEL, PVR, Just Dial

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Result Analysis:

Hindalco Futures: Support Range 133-135; Higher Range 147-150. Good Results, Book Profit in gap up opening.