Anil Singhvi’s Strategy June 17: Day support zone on Nifty is 15,650-15,700 & Bank Nifty is 34,650-34,750
Amid negative global markets, foreign institutional investors (FIIs), domestic institutional investors (DIIs), positive futures & options (F&O) and neutral sentiment cues, the short-term trend of the Indian stock markets will be positive on Thursday, June 17, 2021.
Amid negative global markets, foreign institutional investors (FIIs), domestic institutional investors (DIIs), positive futures & options (F&O) and neutral sentiment cues, the short-term trend of the Indian stock markets will be positive on Thursday, June 17, 2021.
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Domestic equity benchmarks ended with modest losses on Wednesday, June 16, 2021. The S&P BSE Sensex fell 271.07 points or 0.51 per cent to close at 52,501.98. The Nifty 50 index lost 101.70 points or 0.64 per cent to settle at 15,767.55. The Bank Nifty index fell 244.25 points or 0.69 per cent to 35,003.50.
In the broader markets, the BSE MidCap index slipped 0.95 per cent while the BSE SmallCap index dipped 0.68 per cent.
Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for June 17:
Reduce Long Positions if Nifty and BankkNifty close below 15,575 and 34,400.
Day support zone on Nifty is 15,650-15,700, below that 15,550-15,600 is a strong Buy zone.
Day higher zone on Nifty is 15,750-15,825, above that 15,875-15,900 is a strong Profit-booking zone.
Day support zone on Bank Nifty is 34,650-34,750, below that 34,300-34,425 is a strong Buy zone.
Day higher zone on Bank Nifty is 35,075-35,150, above that 35,300-35,375 is a strong Sell zone.
Small Day Range for trading on Nifty is 15,650-15,750, while the medium and bigger day ranges are 15,600-15,800 and 15,550-15,875, respectively.
Small Day Range for trading on Bank Nifty is 34,650-35,150, while the medium and bigger day ranges are 34,400-35,300 and 34,300-35,375, respectively.
FIIs Index long position reduced at 72% Vs 74%, huge Call Writing
PCR near the oversold level at 1.12 Vs 1.42
India VIX up by 2% at 14.87
For Existing Long Positions:
Nifty intraday stop loss is 15,700 and closing stop loss is 15,575.
Bank Nifty intraday stop loss is 34,900 and closing stop loss is 34,400.
For Existing Short Positions:
Nifty intraday and closing stop loss are 15,925.
Bank Nifty intraday and closing stop loss are 35,375.
For New Positions:
Sell Nifty with a stop loss of 15,900 and target 15,650, 15,600, 15,575.
Buy Nifty in 15575-15650 range with a stop loss of 15,500 and target 15,700, 15,750, 15,775, 15,800, 15,825.
For New Positions:
Sell BankNifty with a stop loss of 35,375 and target 34,800, 34,750, 34,650, 34,400.
Buy BankNifty in 34400-34650 range with a stop loss of 34,300 and target 34,750, 34,800, 34,900, 34,975.
F&O Ban Update:
New In Ban: BHEL
Out Of Ban: Sun TV
5 Already In Ban: Nalco, Canara Bank, PNB, Adani
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08:42 AM IST