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Amid negative global markets, negative Foreign Institutional Investors (FIIs), positive Domestic Institutional Investors (DIIs), neutral Futures and Options and negative sentiment, the short-term trend of the Indian market will remain negative on Monday, June 20, 2022.
Earlier on Friday, the market ended in the red for the sixth straight session as benchmarks Nifty 50 slipped below 15,300 with 0.4% cut and the Sensex dropped 135 points to settle around 51,350. Nifty midcap and smallcap declined by nearly 1% and 0.7% respectively on Friday.
Zee Business Managing Editor Anil Singhvi’s strategy on Nifty, Bank Nifty June 20
Nifty support zone is 15150-15200, below that 14950-15050 is a strong Support zone
Nifty higher zone is 15350-15400, above that 15500-15625 is a strong Sell zone
Bank Nifty support zone is 32300-32550, below that 32050-32150 is a strong Support zone
Bank Nifty higher zone is 33000-33200, above that 33300-33550 is a strong Sell zone
Nifty support levels 15300, 15200, 15150, 15050, 14950, 14825
Nifty higher levels 15350, 15400, 15450, 15500, 15600, 15650
Bank Nifty support levels 32625, 32550, 32300, 32150, 32050, 31950, 31825, 31725
Bank Nifty higher levels 32875, 33000, 33125, 33200, 33250, 33300, 33400, 33550
FIIs Index Long at oversold level at 13% Vs 11%
PCR near oversold levels at 0.75 Vs 0.76
India VIX down by 0.5% at 22.76
For Existing Long Positions:
Nifty Intraday and Closing stoploss (SL) 15150
Bank Nifty Intraday and Closing SL 32250
For Existing Short Positions:
Nifty Intraday SL 15400 and Closing SL 15700
Bank Nifty Intraday SL 33000 and Closing SL 33400
For New Positions:
Aggressive Traders Buy Nifty in 15150-15200 range:
Strict SL 15100 Tgt 15300, 15350, 15400, 15450, 15500, 15600
Sell Nifty in 15600-15700 range:
SL 15800 Tgt 15550, 15500, 15450, 15400, 15350, 15300, 15200
Aggressive Traders Sell Nifty:
Strict SL 15450 Tgt 15200, 15150, 15050, 14950, 14825
For New Positions:
Aggressive Traders Buy Bank Nifty in 32050-32300 range:
Strict SL 31950 Tgt 32525, 32600, 32750, 32875, 33000, 33125, 33200, 33300
Aggressive Traders Sell Bank Nifty in 33125-33400 range:
Strict SL 33650 Tgt 33000, 32875, 32750, 32625, 32550, 32300, 32150, 32050
F&O Ban Update:
Already In Ban: IB Housing Finance, RBL Bank, Delta Corp
New In Ban: Nil
Out Of Ban: Nil
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