Amid positive global markets, foreign institutional investors (FIIs), sentiment, neutral domestic institutional investors (DIIs) and futures & options (F&O) cues, the trend of the Indian stock markets will be positive on Tuesday, June 01, 2021.
Bulls continued to rule the stocks markets on Monday, May 31, 2021, which was the second day of the June F&O series. The S&P BSE Sensex advanced 514.56 points or 1 per cent at 51,937.44. Nifty 50 scaled a fresh record peak of 15,582.80 on the closing basis 147.15 points or 0.95 per cent higher. The Bank Nifty index gained 385.20 points or 1.10 per cent to 35,526.65.
The broader market too gained flat. The S&P BSE Mid-Cap index grew by 0.31 per cent and the S&P BSE Small-Cap index up by 0.14 per cent.
Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for June 01:
Day support zone on Nifty is 15435-15500, below that 15375-15400 is a strong Buy zone.
Day higher zone on Nifty is 15650-15700, above that 15750-15800 is a strong Profit-booking zone.
Day support zone on Bank Nifty is 34950-35150, below that 34600-34700 is a strong Buy zone.
Day higher zone on Bank Nifty is 35700-35775, above that 35950-36100 is a Profit-booking zone.
The small day range for trading on Nifty is 15500-15650, while the medium and bigger day ranges are 15435-15700 and 15400-15750, respectively.
The small day range for trading on Bank Nifty is 35150-35775, while the medium and bigger day ranges are 34950-35950 and 34700-36100, respectively.
FIIs Index long on the higher side at 87% versus 88%
PCR (put-call ratio) at a higher level at 1.52 versus 1.32
India VIX down by 3% at 16.89
For Existing Long Positions:
Nifty intraday stop loss is 15475 and closing stop loss is 15425.
Bank Nifty Intraday and closing stop loss are the same at 34,900.
For Existing Short Positions:
Nifty intraday and closing stop loss are 15625.
Bank Nifty intraday and closing stop loss are 35775.
For New Positions:
Buy Nifty with a stop loss of 15425 and target 15650, 15700, 15750, 15800.
Aggressive Traders Sell Nifty in 15700-15750 with a Strict Stop Loss of 15800 and target 15650, 15600, 15575, 15500.
For New Positions:
Buy Bank Nifty in 34950-35150 range with a stop loss of 34900 and target 35425, 35525, 35575, 35700, 35775.
Aggressive Traders Buy Bank Nifty with a Strict Stop Loss of 35100 and target 35700, 35775, 35850, 35950, 36100.
Aggressive Traders Sell Bank Nifty in 35950-36100 range with a Strict Stop Loss of 36250 and target 35850, 35775, 35700, 35600, 35525.
F&O Ban Update:
New In Ban: Bank Of Baroda, PNB
Already In Ban: Sun TV
Out of Ban: Nil