Anil Singhvis Market Strategy June 12: Market trend positive, but traders need to be cautious

The domestic market on Monday, the opening day of the week, logged gains of 19.30 points (0.18%) to reach 10,786.95 at Nifty and 2.20 points (0.01%) to reach 26,453.55 at BankNifty amid mixed global markets. 

But the positive global, Domestic Institutional Investors (DIIs), Future and Options (F&O) and negative foreign institutional investors (FII) cues, the short term trend of the Indian market will remain positive today, on June 12, 2018. 

However, when it comes to sentiments, then traders must exercise caution while investing in the market today. 

Zee Business's Managing Editor Anil Singhvi's Market Strategy for June 12:
10,800 and 26,500 are going to be the deciding levels at Nifty and BankNifty respectively.
10,700 -10,850 is going to be the trading range on Nifty for the day. 
26,350-26,650 will be the small trading range at BankNifty, while 26,250-26,750 is the bigger range.
For today, the next strong support zones in Nifty and BankNifty stands at 10,700-10,725 and 26,250-26,350 respectively. 
Anil Singhvi suggests that traders reduce their buying positions on Nifty and BankNifty if it closes below the mark of 10,750 and 26,450 respectively. 

Watch this Zee business video here:

Buy and Sell strategy on Nifty 
Buy Nifty with a stop loss at 10,700 and target of 10,800-10,825-10,850.
Sell Nifty with a stop loss of 10,850 and target of 10750-10725.

Buy and Sell strategy on BankNifty 
Buy BankNifty near 26350 with a stop loss at 26,250 and Target of 26,500.
Sell BankNifty with a stop loss of 26,650  and target of 26,350-26,250.

The put-call ratio (PCR) for June 11 stands at 1.54 and volatility index (VIX) is 13.70. 

Pharma sector is going to be positive and traders can plan a positional trade in the sector. 

Enters F&O Ban: Nil

Already In Ban: Dewan Housing Finance Corporation Limited (DHFL), Balrampur Chini, DHFL, Jet Airways.