Amid neutral global markets, futures and options (F&O), foreign institutional investors (FII), sentiment and negative indices of domestic institutional investors (DII), the short-term trend of Indian stock markets will be positive on Wednesday June 9. 2021.
National stock markets finished with tiny losses on Tuesday, June 8, 2021. The S&P BSE Sensex slipped 52.94 points or 0.10% to close at 52,275.57. The Nifty 50 index lost 11.55 points or 0.07% to settle at 15,740.10. The Bank Nifty Index lost 358.35 points or 1.01 percent and closed at 35,085.30.
See Zee Business Live TV Streaming below:
In the larger BSE market, the MidCap index rose 0.38 percent and the SmallCap index climbed 0.93 percent.
Zee Business Editor-in-Chief Anil Singhvi’s Market Strategy for June 9:
The daytime support area on Nifty is 15,675-15,700, below 15,575-15,625 is the strong buy area.
The highest daytime zone on Nifty is 15,775-15,825, above 15,875-15,900 is a profit reservation zone.
The daytime support zone on Bank Nifty is 34,700-34,900, below 34,400-34,600 is a strong buy zone.
The highest daytime zone on Bank Nifty is 35,325-35,450, above 35,525-35,650 is a profit reservation zone.
The small day range for trading on Nifty is 15,675-15,775, while the medium and larger day ranges are 15,625-15,825 and 15,575-15,875 respectively.
The small day range for trading on Bank Nifty is 34,900 to 35,350, while the medium and larger day ranges are 34,700 to 35,450 and 34,525 to 35,525 respectively.
Long FII index unchanged at 84%
PCR at 1.30 Vs 1.41
India VIX down 2% to 15.23
For existing long positions:
The nifty intraday stop loss is 15,650 and the closing stop loss is 15,575.
Bank Nifty intraday and closing stop loss are 34,900.
For existing short positions:
Intraday nifty and closing stop loss are 15,825.
Bank Nifty’s intraday stop loss is 35,550 and the closing stop loss is 35,650.
For new positions:
Buy Nifty with a stop loss of 15,575 and target 15,775, 15,800, 15,825, 15,875, 15,900.
Sell Nifty with a stop loss of 15,825 and target 15,700, 15,675, 15,625, 15,600, 15,575.
For new positions:
Buy Bank Nifty in the range 34,525-34,700 with a stop loss of 34,400 and target 34,900, 34,975, 35,075, 35 150, 35,300.
Aggressive traders buy Bank Nifty with a strict stop loss of 34,875 and target 35,275, 35,350, 35,425, 35,525, 35,650.
Sell Bank Nifty in the 35375-35525 range with a stop loss of 35,650 and target 35,300, 35,175, 35,075, 34,975, 34,900.
Aggressive traders sell Bank Nifty with a strict stop loss of 35,450 and target 34,950, 34,700, 34,600, 34,525, 34,425.
Update on the F&O ban:
New in Ban: Nalco
4 Already in Ban: PNB, Sun TV, SAIL, Indiabulls Housing Finance
Out of ban: Nile