Anil Singhvi’s Strategy June 24: Day support zone on Nifty is 15,575-15,625 & Bank Nifty is 34,375-34,450
Amid positive global markets, future & options (F&O), sentiment, neutral foreign institutional investors (FIIs) and domestic institutional investors (DIIs) cues, the short-term trend of the Indian stock markets will be positive on Thursday, June 24, 2021.
Amid positive global markets, future & options (F&O), sentiment, neutral foreign institutional investors (FIIs) and domestic institutional investors (DIIs) cues, the short-term trend of the Indian stock markets will be positive on Thursday, June 24, 2021.
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Benchmark indices snapped their three-day winning streak and ended half a per cent lower on Wednesday, June 23, 2021, as investors booked profits at higher levels. The sentiments were further dampened due to a cut in India’s CY21 growth forecast by Moody’s.
The S&P BSE Sensex dropped 282.63 points or 0.54 per cent to close at 52,306.08. The Nifty 50 index dropped 85.80 points or 0.54 per cent to 15,686.95. The Bank Nifty lost 1171 points or 0.49 per cent to settle at 34,574.
In the broader market at BSE, the S&P BSE MidCap closed 0.26 per cent lower while S&P BSE SmallCap dropped 0.43 per cent.
Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for June 24:
Day support zone on Nifty is 15,575-15,625, below that 15,450-15,500 is a strong Buy zone.
Day higher zone on Nifty is 15,750-15,775, above that 15,850-15,900 is a strong Sell zone.
Day support zone on Bank Nifty is 34,375-34,450, below that 33,900-34,000 is a strong Buy zone.
Day higher zone on Bank Nifty is 34,800-34,950, above that 35,050-35,250 is a strong Profit-booking zone.
Small Day Range for trading on Nifty is 15,625-15,750, while the medium and bigger ranges are 15,575-15,775 and 15,500-15,875, respectively.
Small Day Range for trading on Bank Nifty is 34,375-34,875, while the medium and bigger ranges are 34,000-34,950 and 33,900-35,150, respectively.
FIIs Index long position at 73% Vs 70%
PCR oversold at 0.96 Vs 1.08, short-covering expected today
India VIX up by 3% at 15.13
For Existing Long Positions:
Nifty intraday and closing stop loss are 15,575
Bank Nifty intraday and closing stop loss are 34,375
For Existing Short Positions:
Nifty intraday and closing stop loss are 15,900.
BankNifty intraday and closing stop loss are 35,050.
For New Positions:
Buy Nifty with a stop loss of 15,575 and target 15,750, 15,775, 15,825, 15,860, 15,900.
Sell Nifty in 15,800-15,875 range with a stop loss of 15,925 and target 15,775, 15,750, 15,700, 15,650, 15,600.
For New Positions:
Buy BankNifty in 33,900-34,000 range with a stop loss of 33,850 and target 34,350, 34,450, 34,525, 34,600.
Aggressive Traders Buy Bank Nifty with a strict stop loss of 34,375 and target 34,750, 34,800, 34,875, 34,950, 35,000, 35,050.
Sell BankNifty in 34,875-35,000 range with a stop loss of 35,300 and target 34,750, 34,600, 34,550, 34,475, 34,400.
F&O Ban Update:
2 Already In Ban: Vodafone Idea, Sun TV
New In Ban: Nil
Out Of Ban: Nil
Shyam Metalics Listing Preview:
Expected to list around 425-450
Long term Investors should hold
Short term Investors keep stop loss 375
Sona BLW Precision Listing Preview:
Expected to list around issue price
Long term Investors can HOLD
Fresh buying suggested if lists substantially below IPO price 291
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08:56 AM IST