Amid neutral global market, sentiment, positive foreign institutional investors (FIIs), domestic institutional investors (DIIs) and cautious futures & options (F&O) and sentiment cues, the short-term trend of the Indian stock markets will be positive on Friday, June 19, 2020.

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Domestic equity benchmarks on Thursday, June 18, 2020, gained more than two per cent even as global cues were negative. The Sensex at Bombay Stock Exchange climbed 700 points, or 2.09 per cent to close at 34,208. Similarly, the Nifty at National Stock Exchange settled 211 points, or 2.13 per cent, up at 10,092. Bank Nifty was 754.55 points, or 3.74 per cent, up to 20,956. In the broader market at BSE, Mid-cap also added 1.05 per cent while Small-cap climbed 1.48 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for June 19: 

Day support zone on Nifty is 9,975-10,025, below that the strong support zone is 9,725-9,850.

Day Higher range on Nifty is 10,125-10,175, above that the strong sell zone is 10,275-10,325.

Day support zone on Bank Nifty is 20,500-20,650, below that the strong support zone is 20,000-20,300.

Higher Range on Bank Nifty is 21,150-21,250, above that the strong sell zone is 21,500-21,800.

Put-Call Ratio (PCR) is 1.58 Alert at higher levels and India Volatility Index (VIX) down 6% at 31.46. 

For Existing Long Positions:

Nifty intraday and closing stop loss 9,950.

Bank Nifty intraday and closing stop loss 20,650.

For Existing Short Positions:

Nifty intraday and closing stop loss are 10,175.

Bank Nifty intraday and closing stop loss are 21,250.

For New Positions:

Buy Nifty with a stop loss of 9,950 and target 10,125, 10,175, 10,275, 10,325. 

Sell Nifty in 10,175-10,275 range with a stop loss of 10,350 and target 10,125, 10,075, 10,025. 

Buy Bank Nifty in 20,500-20,650 range with a stop loss of 20,300 and target 20,750, 20,900, 21,050, 21,200, 21,500. 

Sell Bank Nifty in 21,500-21,800 range with a stop loss of 22,000, and target 21,250, 21,150, 21,050.

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Total 8 stocks in F&O Ban:

3 enter in Ban: BHEL, PNB & SAIL

5 stocks already in Ban: Escorts, JSPL, Vodafone Idea, Adani Enterprises, Just Dial