Amid neutral global markets, foreign institutional investors (FIIs), domestic institutional investors (DIIs), futures & options (F&O) and positive sentiment cues, the short-term trend of the Indian stock markets will be positive on Wednesday, June 2, 2021. 

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Domestic stock markets ended almost flat after a volatile session on Tuesday, June 1, 2021. The S&P BSE Sensex slipped 2.56 points to close at 51,934.88. The Nifty 50 fell 7.95 points or 0.05 per cent but remained above the 15,500 level to settle at 15,574.85. The Nifty bank index fell 189.45 points or 0.53 per cent to close at 35,337.20.

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The broader markets performance was muted on Tuesday. The S&P BSE MidCap closed 0.01 per cent higher while the SmallCap index slipped 0.31 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for June 2: 

Day support zone on Nifty is 15,475-15,525, below that 15,375-15,435 is a strong Buy zone. 

Day higher zone on Nifty is 15,650-15,700, above that 15,750-15,800 is a strong Profit-booking zone

Day support zone on Bank Nifty is 34,900-35,100, below that 34,525-34,700 is a strong Buy zone. 

Day higher zone on Bank Nifty is 35,525-35,700, above that 35,800-35,950 is a Profit-booking zone.

The small day range for trading on Nifty is 15,500-15,600, while the medium and bigger ranges are 15,435-15,650 and 15,375-15,700, respectively. 

The small day range for trading on Bank Nifty is 34,900-35,525, while the medium and bigger ranges are 34,700-35,700 and 34,600-35,850.

FIIs Index long still on the higher side at 86% Vs 87%.

PCR comfortable at 1.32 Vs 1.51.

India VIX up by 3% at 17.39.

For Existing Long Positions:

Nifty intraday stop loss is 15,500 and closing stop loss is 15,400,

Bank Nifty intraday and closing stop loss are 34,900.

For Existing Short Positions:

Nifty intraday and closing stop loss are 15,700.

Bank Nifty intraday and closing stop loss are 35,750. 

For New Positions:

Buy Nifty in 15,435-15,525 range with a stop loss of 15,375 and target 15,575, 15,600, 15,650, 15,700.

Aggressive Traders Buy Nifty with a Strict stop loss of 15,475 and target 15,600, 15,650, 15,700, 15,750.

Sell Nifty in 15,650-15,700 range with a stop loss of 15,800 and target 15,600, 15,575, 15,525, 15,475.

For New Positions:

Buy Bank Nifty in 34,525-34,700 range with a stop loss of 34,400 and target 34,925, 35,075, 35,150, 35,225, 35,325.

Aggressive Traders Buy Bank Nifty in 34900-35100 range with a Strict stop loss of 34,800 and target 35,225, 35,325, 35,525, 35,600, 35,700, 35,800, 35,850.

Sell Bank Nifty in 35,700-35,850 range with a stop loss of 36,100 and target 35,600, 35,525, 35,350, 35,250, 35,150.

F&O Ban Update:

New In Ban: SAIL

Out Of Ban: PNB

2 Already In Ban: Sun TV, Bank of Baroda