Tuesday, June 18, 2024
Home > Stock Market > Anil Singhvi’s Strategy July 8: Day support zone on Nifty is 10,675-10,750 & Bank Nifty is 22,200-22,400

Anil Singhvi’s Strategy July 8: Day support zone on Nifty is 10,675-10,750 & Bank Nifty is 22,200-22,400

[ad_1]

Amid positive global markets, sentiment, neutral foreign institutional investors (FIIs), negative domestic institutional investors (DIIs), cautious futures & options (F&O) cues, the short-term trend of the Indian stock markets will be positive on Wednesday, July 8, 2020.

Rising for the fifth straight session, the benchmark Sensex on Tuesday, July 7, 2020, added another 187 points, with gains in financial counters offsetting losses in power and infra stocks. The key domestic equity indices gained even as the global cues were negative. 

After a volatile trading session, the 30-share BSE index ended 187 points or 0.51 per cent, higher at 36,675. The NSE Nifty was up 36 points, or 0.33 per cent, at 10,800. Bank Nifty was 429 points, or 1.93 per cent, up at 22,628.

Broader indices at BSE also appreciated. Mid-cap jumped 0.58 per cent up and Small-cap surged 0.57 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for July 8: 

Day support zone on Nifty is 10,675-10,750 and the higher range is 10,900-10,975.

Day support zone on Bank Nifty is 22,200-22,400 and the higher range is 22,850-22,950.

Small day range for trading on Nifty is 10,750-10,840, while the medium and bigger ranges are 10,700-10,900 and 10,625-10,975, respectively. 

Small day range for trading on Bank Nifty is 22,400-22,850, while the medium and bigger ranges are 22,200-22,950 and 22,050-23,100, respectively. 

Put-Call Ratio (PCR) is 1.63, alert at a higher level, India Volatility Index (VIX) at 25.10. 

For Existing Long Positions:

Nifty intraday stop loss 10,690 and closing stop loss 10,600.

Bank Nifty intraday stop loss 22,400 and closing stop loss 22,200.

For Existing Short Positions:

Nifty intraday and closing stop loss 10,840.

Bank Nifty intraday and closing stop loss 22,700.

For New Positions:

Buy Nifty with a stop loss of 10,675 and target 10,840, 10,900, 10,950, 10,975.

Sell Nifty in 10,950-10,975 range with a stop loss of 11,050 and target 10,900, 10,850, 10,825.

Buy Bank Nifty with a stop loss of 22,400 and target 22,750, 22,850, 22,950, 23,050.

Sell Bank Nifty in 22,900-23,000 range with a stop loss of 23,100, and target 22,800, 22,700, 22,625, 22,500.

See Zee Business Live TV Streaming Below:

4 Stocks In F&O Ban

Enters F&O Ban: Equitas

Already in Ban: Glenmark, IB Housing Finance, BHEL

Out of Ban: Vodafone Idea, SAIL



[ad_2]

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *