Anil Singhvi Strategy July 5: Daytime support area on Nifty is 15,700-15,725 and Bank Nifty is 34,650-34,725
Amid positive global markets, domestic institutional investors (DII), futures and options (F&O), sentiment and negative indices from foreign institutional investors (FII), the short-term trend of Indian stock markets will be positive on Monday, July 5, 2021..
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Domestic stock barometers ended with decent gains on Friday, July 2, 2021. The S&P BSE Sensex rose 166.07 points or 0.32% to stand at 52,484.67. The Nifty 50 Index added 42.20 points or 0.27% to close at 15,722.20. The Bank Nifty Index gained 125.90 points or 0.36 percent to close at 34,809.90.
In the broader market, the S&P BSE MidCap rose 0.05% while the S&P BSE SmallCap gained 1.01%.
Zee Business Editor-in-Chief Anil Singhvi’s Market Strategy for July 5:
The daytime support area on Nifty is 15,700-15,725, below 15,625-15,675 is a strong buy area.
The highest daytime zone on Nifty is 15,815-15,835, above 15,860-15,890 is a significant profit reserve area.
The daytime support zone on Bank Nifty is 34,650-34,725, below 34,400-34,550 is a strong buy zone.
The highest daytime zone on Bank Nifty is 34,950-35,075, above 35,200-35,350 is a strong sell area.
The small day range for trading on Nifty is 15,725-15,835, while the medium and larger day ranges are 15,675-15,860 and 15,625-15,890, respectively.
The small day range on Bank Nifty is 34,650 to 35,000, while the medium and larger day ranges are 34,550 to 35,200 and 34,400 to 35,300, respectively.
FIIs increase the index’s long position to 75% from 72%.
Lightweight and comfortable PCR at 1.09 vs 1.12.
India VIX down -5.84% at 12.09.
For existing long positions:
Intraday nifty and closing stop loss are 15,625.
Bank Nifty intraday and closing stop loss are 34,600.
For existing short positions:
Intraday nifty and closing stop loss are 15,925.
Bank Nifty intraday and closing stop loss are 35,050.
For new positions:
Buy Nifty with a stop loss of 15,625 and target 15,815, 15 835, 15 860, 15 890.
Sell Nifty in the 15,835-15,890 stop loss range of 15,925 and target 15,815, 15,790, 15,750, 15,725.
For new positions:
Buy Bank Nifty with a stop loss of 34,600 and target 34,975, 35,050, 35,150, 35,200, 35,300, 35,350.
Sell BankNifty in a range of 35,200 to 35,350 with a stop loss of 35,500 and target 35,075, 35,000, 34,925, 34,825.
Update of the F&O ban:
Already banned: NALCO
New in the ban: GNP
Out of ban: Nile
List of pesticides in India
Expect a list of around 350-375, up from 296 IPO prices.
Long-term investors can HOLD.
Short-term investors keep SL of 320, continue to look for a higher target.