Anil Singhvi’s Strategy June 22: Buy PTC India Cash with Stop Loss 40; Day support zone on Nifty is 10,075-10,125

Amid neutral global market, futures & options (F&O), positive foreign institutional investors (FIIs), sentiment, and a negative domestic institutional investors (DIIs) cues, the short-term trend of the Indian stock markets will be positive on Monday, June 22, 2020.

Domestic equity benchmarks on Friday, June 19, 2020, gained more than one and half a per cent amid positive global cues. Sensex at Bombay Stock Exchange climbed 524 points, or 1.53 per cent to close at 34,732. Similarly, the Nifty at National Stock Exchange settled 153 points, or 1.51 per cent, up at 10,244. Bank Nifty gained 382 points, or 1.82 per cent, to close at 21,338.

In the broader market at BSE, Mid-cap also added 1.03 per cent while Small-cap climbed 1.37 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for June 22: 

Day support zone on Nifty is 10,075-10,125 and day higher range is 10,275-10,325, above that 10,400-10,450 is the Profit booking zone. 

Day support zone on Bank Nifty is 21,100-21,200, below that 20,750-20,900 is strong support zone; and the higher range is 21,500-21,600 and above that 21,800-22,000 is the strong sell zone. 

Put-Call Ratio (PCR) is 1.56 and India Volatility Index (VIX) down 5% at 29.97. 

For Existing Long Positions:

Nifty intraday and closing stop loss 10,075.

Bank Nifty intraday and closing stop loss 20,900.

For Existing Short Positions:

Nifty intraday and closing stop loss 10,330.

Bank Nifty intraday and closing stop loss 21,600.

For New Positions:

Buy Nifty with a stop loss of 10,075 and target 10,275, 10,325, 10,400, 10,450.

Sell Nifty in 10,400-10,450 range with a stop loss of 10,525 and target 10,350, 10,300, 10,250.

Buy Bank Nifty with a stop loss of 20,900 and target 21,450, 21,600, 21,800, 21,950.

Sell Bank Nifty in 21,800-21,950 range with a stop loss of 22,150, and target 21,600, 21,500, 21,350.

Total 8 stocks in F&O Ban:

1 stock enter in Ban: NCC

7 stocks already in Ban: BHEL, PNB, SAIL, Escorts, JSPL, Adani Ent, Just Dial

Out of Ban: Vodafone Idea

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Stock of the Day:

Buy PTC India (Cash): Stop loss 40 and target 44, 46, 48. The company declared a dividend of Rs 5.50 per share. Very attractive dividend yield 14%.