Amid positive global markets, domestic institutional investors (DIIs), sentiment, negative foreign institutional investors (FIIs) and neutral future & options (F&O) cues, the short-term trend of the Indian stock markets will be positive on Monday, June 28, 2021.
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Domestic markets started the July future & options (F&O) series with decent gains on Friday, June 25, 2021. The S&P BSE Sensex gained 226.04 points or 0.43 per cent and closed at 52,925.04. The Nifty 50 index rose 69.90 points or 0.44 per cent to settle at 15,860.35. The Bank Nifty index closed 537.65 points or 1.54 per cent higher at 35,364.65.
Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for June 28:
Day support zone on Nifty is 15,750-15,775, below that 15,675-15,700 is a strong Buy zone.
Day higher zone on Nifty is 15,900-15,925, above that 15,975-16,050 is a Profit-booking zone.
Day support zone Bank Nifty 34,900-35,000, below that 34,675-34,800 is a strong Buy zone.
Day higher zone on Bank Nifty is 35,550-35,650, above that 35,800-35,950 is a Profit-booking zone.
The small day range for trading on Nifty is 15,775-15,925, while the medium and bigger ranges are 15,750-15,975 and 15,675-16,000, respectively.
The small day range for trading on Bank Nifty is 35,000-35,550, while the medium and bigger ranges are 34,900-35,650 and 34,800-35,800, respectively.
FIIs Index long position at 80% Vs 82%
PCR light and comfortable at 1.20 Vs 1.21
India VIX down by 11% at 13.37
For Existing Long Positions:
Nifty intraday and closing stop loss are 15,675.
BankNifty intraday stop loss is 34,900 and closing stop loss is 35,000.
For Existing Short Positions:
Nifty intraday and closing stop loss are 15,925.
BankNifty intraday stop loss is 35,550 and closing stop loss is 35,650.
For New Positions:
Buy Nifty with a stop loss of 15,675 and target 15,890, 15,925, 15,975, 16,000.
Sell Nifty in 15,975-16,050 range with a stop loss of 16,100 and target 15,900, 15,870, 15,840, 15,800.
For New Positions:
Buy Bank Nifty with a stop loss of 34,900 and target 35,550, 35,650, 35,725, 35,800, 35,950.
Aggressive Traders Sell BankNifty in 35,650-35,800 range with a stop loss of 36,000 and target 35,550, 35,450, 35,375, 35,300, 35,250.
No Stocks in F&O Ban
Dodla Dairy Listing Preview:
Expect to list around 475-525 range with reasonable listing gains.
Long term Investors must HOLD and Buy at a lower level.
Short term Investors keep stoop loss of issue price 428.
KIMS Listing Preview:
Expect to list around 925-950 range with reasonable listing gains.
Fresh Buying recommended if List near issue price.
Long term Investors should HOLD with stop loss of IPO price of 825.