Amid negative global market, neutral foreign institutional investors (FIIs), domestic institutional investors (DIIs), futures & options (F&O) and sentiment cues, the short-term trend of the Indian stock markets will be neutral on Thursday, June 18, 2020.

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Domestic equity benchmarks on Wednesday, June 17, 2020, fell by around 0.3 per cent even as global stocks were positive. Geopolitical tension between India and China resulted in market weakness. Sensex at Bombay Stock Exchange declined 97 points to close at 33,508. Similarly, the Nifty at National Stock Exchange settled 33 points, 0.33 per cent, down at 9,881. Bank Nifty lost 95 points, or 0.47 per cent, to settle at 20,202. 

On the other hand, in the broader market at BSE, Mid-cap ended 0.3 per cent up while Small-cap rose 0.7 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for June 18: 

Day support zone on Nifty is 9,725-9,750, below that the strong support zone is 9,550-9,600.

Day higher range on Nifty is 9,975-10,050, above that Strong sell zone is 10,125-10,175.

Day support zone on Bank Nifty is 19,900-20,000, below that strong support zone is 19,500-19,750.

Day higher range on Bank Nifty is 20,450-20,650, above that strong sell zone is 20,750-20,950.

Put-Call Ratio (PCR) is 1.23 and India Volatility Index (VIX) up 1% at 33.36. 

For Existing Long Positions:

Nifty intraday stop loss is 9,700 and closing stop loss is 9,800.

Bank Nifty intraday and closing stop loss are 19,900.

For Existing Short Positions:

Nifty intraday and closing stop loss are 10,050.

Bank Nifty intraday and closing stop loss are 20,550.

For New Positions:

Buy Nifty in 9,725-9,750 range with a stop loss of 9,675 and target 9,850, 9,900, 9,950, 10,000. 

Sell Nifty in 9,975-10,050 range with a stop loss of 10,200 and target 9,900, 9,850. 

Buy Bank Nifty in 19,500-19,750 range with a stop loss of 19,400, and target 19,950, 20,200, 20,300, 20,450, 20,525, 20,625. 

Sell Bank Nifty in 20,450-20,650 range with a stop loss of 20,750 and target 20,300, 20,200, 20,000.

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F&O Ban Update:

Enter in Ban: Escorts

4 stocks already in Ban: JSPL, Vodafone Idea, Adani Enterprises & Just Dial.