Anil Singhvi’s Strategy June 8: Day Support Zone on Nifty is 9,950-10,050; Buy SBI Futures with Stop loss 186
Amid positive global market, futures & options (F&O), sentiment and neutral foreign institutional investors (FIIs) and domestic institutional investors (DIIs) cues, the short-term trend of the Indian stock markets will be positive on Monday, June 8, 2020.
Amid positive global market, futures & options (F&O), sentiment and neutral foreign institutional investors (FIIs) and domestic institutional investors (DIIs) cues, the short-term trend of the Indian stock markets will be positive on Monday, June 8, 2020.
Domestic equity benchmarks on Friday, June 5, 2020, gained around one per cent amid positive global cues. Sensex at Bombay Stock Exchange climbed 307 points, or 0.90 per cent to close at 34,287. Similarly, Nifty at National Stock Exchange surged 113 points, or 1.13 per cent, up at 10,142. Bank Nifty gained 644 points, or 3.16 per cent, to close at 21,035.
Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for June 8:
Day Support Zone on Nifty is 9,950-10,050 and the Higher Range is 10,300-10,450.
Day Support Zone on Bank Nifty is 20,400-20,600 and the Higher Range is 21,500-21,950.
The small day range for trading on Nifty is 10,050-10,250, while the medium and bigger ranges are 10,000-10,325 and 9,950-10,400 respectively.
The small day range for trading on Bank Nifty is 20,950-21,350, while the medium and bigger ranges are 20,825-21,500 and 20,500-21,950 respectively.
Put-Call Ratio (PCR) is 1.50 and India Volatility Index (VIX) down 3% at 28.68
For Existing Long Positions:
Nifty intraday and closing stop loss 10,000.
Bank Nifty intraday stop loss 20,900 and closing stop loss 20,500.
For Existing Short Positions:
Nifty intraday and closing stop loss 10,200.
Bank Nifty intraday and closing stop loss 21,200.
For New Positions:
Buy Nifty with a stop loss of 10,000 and target 10,250, 10,300, 10,330, 10,400.
Sell Nifty in 10,325-10,400 range with a stop loss of 10,500 and target 10,250, 10,200.
Buy Bank Nifty with a stop loss of 20,900 and target 21,350, 21,500, 21,600, 21,750, 21,950.
Sell Bank Nifty in 21,500-21,900 range with a stop loss of 22,150 and target 21,500, 21,350, 21,200.
Enters in F&O Ban: BHEL & NCC
Result Analysis:
Vedanta Futures: Results in line, big exceptional loss Rs 17,000 crore. Good Buy level near 95. First Support in 100-102 range.
Stock of the Day:
Buy SBI Futures: Stop loss 186 and target 194, 197.
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09:18 AM IST