Anil Singhvi’s Strategy June 30: Day support zone on Nifty is 15,675-15,725 & Bank Nifty is 34,750-34,900

Amid positive global markets, domestic institutional investors (DIIs), future & options (F&O), sentiment, and negative foreign institutional investors (FIIs) cues, the short-term trend of the Indian stock markets will be positive on Wednesday, June 30, 2021.  

Key equity indices ended with modest losses on Tuesday, June 29, 2021. The S&P BSE Sensex fell 185.93 points or 0.35 per cent to 52,549.66. The Nifty 50 index lost 66.25 points or 0.42 per cent to 15,748.45. The Bank Nifty index lost 349.15 points or 0.99 per cent to settle at 35,010.30.  

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The broader markets also reversed early gains and closed in red. The S&P BSE MidCap fell 0.42 per cent to close at 22,542.80 and S&P BSE SmallCap lost 0.07% and closed at 25,092.69. 

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for June 30:  

Day support zone on Nifty is 15,675-15,725, below that 15,575-15,625 is a strong Buy zone.  

Day higher zone on Nifty is 15,800-15,825, above that 15,860-15,900 is a Profit-booking zone.  

Day support zone on Bank Nifty is 34,750-34,900, below that 34,525-34,650 is a strong Buy zone 

Day higher zone on Bank Nifty is 35,225-35,350, above that 35,450-35,550 is a strong Sell zone. 

Small Day Range for trading on Nifty is 15,700-15,825, while the medium and bigger ranges are 15,675-15,860 and 15,600-15,900, respectively. 

Small Day Range for trading on Bank Nifty is 34,825-35,225, while the medium and bigger ranges are 34,750-35,350 and 34,600-35,450, respectively.  

FIIs Index long position further reduced at 74% Vs 78%. 

PCR oversold at 0.90 Vs 0.99, short-covering expected. 

India VIX down by 3% at 13.00. 

For Existing Long Positions: 

Nifty intraday and closing stop loss are 15,650. 

Bank Nifty intraday and closing stop loss are 34,800. 

For Existing Short Positions: 

Nifty intraday and closing stop loss are 15,925. 

Bank Nifty Intraday stop loss is 35,500 and closing stop loss is 35,375. 

For New Positions: 

Buy Nifty with a stop loss of 15,650 and target 15,800, 15,825, 15,860, 15,890, 15,925. 

Sell Nifty in 15,860-15,900 range with a stop loss of 16,000 and target 15,825, 15,800, 15,750, 15,725, 15,700. 

For New Positions: 

Buy BankNifty in 34,525-34,675 range with a stop loss of 34,450 and target 34,750, 34,825, 34,900, 35,000, 35,150. 

Aggressive Traders Buy Bank Nifty with a Strict stop loss of 34,800 and target 35,150, 35,225, 35,300, 35,350, 35,450, 35,550. 

Sell Bank Nifty in 35,225-35,375 range with a stop loss of 35,550 and target 35,075, 35,000, 34,925, 34,825, 34,750. 

F&O Ban Update: 

Already In Ban: NALCO 

New In Ban: Nil 

Out Of Ban: Nil