Anil Singhvi’s Strategy June 26: Amid neutral global markets, domestic institutional investors (DIIs), futures & options (F&O), Sentiment and negative foreign institutional investors (FIIs), cues, the short-term trend of the Indian stock markets will be positive on Friday, June 26, 2020.
Domestic equity benchmarks on Thursday, June 25, 2020, closed with marginal losses amid negative global cues. Trading was volatile across the day as yesterday was a day for expiry of June 32020 F&O Contracts. Sensex at Bombay Stock Exchange lost 27 points, or 0.08%, to close at 34,842. Similarly, the Nifty at National Stock Exchange fell 16 points, or 0.16%, to settle at 10,289. However, Bank Nifty gained 79 points, or 0.37%, to end at 21,506.
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On the other hand, broader indices at BSE logged gains. Mid-cap climbed 0.62% while Small-cap surged 0.76%.
Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for June 26:
Day support zone on Nifty is 10,175-10,250, below that 10,075-10,125 is the strong support zone.
Day higher range on Nifty is 10,375-10,400, above that 10,475-10,550 is the strong profit booking range.
Day support zone on Bank Nifty is 21,250-21,425, below that 20,900-21,000 is the strong support zone.
Day higher range on Bank Nifty is 20,700-20,950, above that 22,250-22,450 is the strong sell zone.
Put-Call Ratio (PCR) is 1.50, India Volatility Index (VIX) up 1% at 29.73.
For Existing Long Positions:
Nifty intraday and closing stop loss 10,175.
Bank Nifty intraday and closing stop loss 21,300.
For Existing Short Positions:
Nifty intraday and closing stop loss 10,400.
Bank Nifty intraday and closing stop loss 21,700.
For New Positions:
Buy Nifty with a stop loss of 10,175 and target 10,350, 10,400, 10,475, 10,500.
Sell Nifty in 10,400-10,475 range with a stop loss of 10,550 and target 10,350, 10,300, 10,250.
Buy Bank Nifty with a stop loss of 21,300 and target 21,700, 21,800, 21,950, 22,050, 22,250.
Sell Bank Nifty in 21,950-22,250 range with a stop loss of 22,500 and target 21,800, 21,700, 21,525.
No stocks in F&O Ban:
3 stocks Out of Ban: Glenmark, Just Dial, Vodafone Idea.
Apollo Hospitals Cash: Results Inline, operating profit better than expectations. 1,400-1,525 is trading range.