Anil Singhvi’s Strategy June 3: Day support zone on Nifty is 15,525-15,575 & Bank Nifty is 34,900-35,100

Amid positive global markets, sentiments, neutral foreign institutional investors (FIIs), domestic institutional investors (DIIs) and futures & options (F&O) cues, the short-term trend of the Indian stock markets will be positive on Thursday, June 3, 2021. 

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Domestic equity markets closed almost flat on Wednesday, June 2, 2021, amid mixed global cues. The S&P BSE Sensex declined 85.40 points or 0.16 per cent to close at 51,849.48. The Nifty 50 index at the National Stocks Exchange added 1.35 points or 0.01 per cent to remain almost unchanged at 15,576.20. The Bank Nifty index also rose 36.55 points or 0.10 per cent to settle at 35,373.75. 

The broader market at BSE logged robust gains performing better than the Sensex. The Mid-Cap index surged 1.75 per cent and the Small-Cap index climbed 1.29 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for June 3: 

Day support zone on Nifty is 15,525-15,575, below that 15,400-15,450 is 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 34,600-34,700 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 15,525-15,650, while the medium and bigger ranges are 15,450-15,700 and 15,400-15,775, respectively.

The Small Day Range for trading on Bank Nifty is 35,075-35,700, while the medium and bigger ranges are 34,900-35,800 and 34,700-35,950, respectively. 

FIIs Index long still on the higher side at 85% Vs 86%.

PCR comfortable at 1.27 Vs 1.32.

India VIX down by 1% at 17.21.

For Existing Long Positions:

Nifty intraday stop loss is 15,450 and closing stop loss is 15,400.

Bank Nifty intraday stop loss is 34,900 and closing stop loss is 35,000.

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 with a stop loss of 15,450 and target 15,610, 15,650, 15,700, 15,750, 15,775.

Sell Nifty in 15,700-15,775 range with a stop loss of 15,825 and target 15,660, 15,610, 15,580, 15,530.

For New Positions:

Buy Bank Nifty with a stop loss of 35,000 and target 35,525, 35,600, 35,700, 35,800, 35,850, 35,950.

Sell Bank Nifty in 35700-35950 range with a stop loss of 36,100 and target 35,600, 35,525, 35,425, 35,350, 35,250, 35,150, 35,075.

F&O Ban Update:

3 Already In Ban: Sun TV, Bk Of Baroda, SAIL

New In Ban: Nil

Out Of Ban: Nil