Amid negative global markets, neutral foreign institutional investors (FIIs), positive domestic institutional investors (DIIs), future & options (F&O) and sentiment cues, the short-term trend of the Indian stock markets will be positive on Wednesday, July 7, 2021. 

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Domestic equity markets closed in red on Tuesday, July 6, 2021. The S&P BSE Sensex lost 18.82 points or 0.04 per cent and settled at 52,861.18. The Nifty 50 index fell 16.10 points or 0.10 per cent to close at 15,818.25. However, the Bank Nifty index gained 367.15 points or 1.04 per cent to end at 35,579.15. 

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In the broader markets, the BSE MidCap index settled 0.19 per cent higher while the BSE SmallCap index closed 0.26 per cent lower.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for July 7: 

Day support zone on Nifty is 15,700-15,750, below that 15,625-15,675 is a strong Buy zone.

Day higher zone on Nifty is 15,835-15,860, above that 15,890-15,925 is a strong profit booking zone.

Day support zone on Bank Nifty is 35,225-35,375, below that 34,900-35,000 is a strong Buy zone. 

Day higher zone on Bank Nifty is 35,725-35,800, above that 35,950-36,100 is a strong Sell zone. 

Small Day Range for trading on Nifty is 15,750-15,835, while the medium and bigger ranges are 15,725-15,890 and 15,650-15,925, respectively.

Small Day Range for trading on Bank Nifty is 35,350-35,725, while the medium and bigger ranges are 35,225-35,800 and 34,900-35,950, respectively. 

FIIs UNCHANGED Index long position at 73%.

PCR Light & comfortable at 1.08 vs 1.25.

India VIX unchanged by 1.72% at 12.28.

For Existing Long Positions:

Nifty intraday and closing stop loss are 15,650.

BankNifty intraday and closing stop loss are 35,200.

For Existing Short Positions:

Nifty intraday and closing stop loss are 15,925.

Bank Nifty intraday and closing stop loss are 35,850. 

For New Positions:

Buy Nifty in 15,675-15,750 range with a stop loss of 15,625 and target 15,790, 15,815, 15,835, 15,860, 15,890.

Sell Nifty with a stop loss of 15,925 and target 15,750, 15,725, 15,700, 15,675, 15,650.

For New Positions:

Aggressive Traders BUY Bank Nifty in 35,225-35,375 range with Strict Stop Loss of 34,900 and target 35,575, 35,650, 35,725, 35,800, 35,950.

Sell Bank Nifty with a Strict Stop Loss of 35,850 and target 35,450, 35,375, 35,300, 35,225, 35,100.

F&O Ban Update: 

Already In Ban: NALCO, PNB, Indiabulls Housing Finance

New In Ban: NMDC 

Out of Ban: Nil

Stock of the Day

Buy Seshasayee Paper: Stop loss 190 and target 210, 215, 235, 250. Paper sector looking strong. Seshasayee at an attractive valuation. 

CLEAN SCIENCE IPO

APPLY FOR LISTING GAINS AND LONG TERM. 

Positives:

Attractive valuation

Strong Growth TRACK RECORD

Debt-free cash-rich company

GR INFRA IPO

APPLY FOR LISTING GAINS AND LONG TERM

Positives:

Attractive valuation

Experience promoter

Impressive track record

Strong biz outlook

Strong order book

Attractive valuation

Negatives:

Promotor needs to sell a further 11.5% stake in future.