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Amid negative global cues, negative Foreign Institutional Investors (FIIs), positive Domestic Institutional Investors (DIIs), neutral Futures and Options (F&O), negative sentiment, the short-term trend of the Indian market will remain negative on Tuesday, June 14, 2022.
Earlier on Monday, the domestic equity benchmarks Nifty50 and the Sensex ended with cuts of 2.6% each as the former ended below 15,800 and the latter dropped over 1400 points in a single day. The broader Nifty50 closed at 15,774 and Sensex settled at 52846 as volatility in the global market and FIIs sell-off worsened ahead of FOMC meet.
Zee Business Managing Editor Anil Singhvi’s strategy on June 14, 2022
Nifty support zone is 15675-15735 and 15550-15625, below that 15375-15450 is strong Buy zone
Nifty higher zone is 15850-15900, above that 15975-16075 is a strong Sell zone
Bank Nifty support zone is 33125-33200 and 32875-33000, below that 32150-32450 is strong Buy zone
Bank Nifty higher zone is 33775-33900, above that 34000-34350 is a strong Sell zone
Nifty support levels are: 15735, 15675, 15625, 15550, 15500, 15450, 15375
Nifty higher levels: 15775, 15800, 15850, 15900, 15975, 16000, 16075
Bank Nifty support levels: 33300, 33200, 33125, 33000, 32875, 32450, 32375, 32150
Bank Nifty higher levels: 33525, 33600, 33675, 33775, 33900, 34000, 34175
FIIs Index Long at oversold level at 12% Vs 21%, short covering expected from lower levels
PCR near oversold levels at 0.70 Vs 0.88
India VIX up by 14% at 22.37
For Existing Long Positions:
Nifty Intraday and Closing stoploss (SL) 15675
Bank Nifty Intraday and Closing SL 32950
For Existing Short Positions:
Nifty Intraday SL 16000 and Closing SL 16200
Bank Nifty Intraday SL 34000 and Closing SL 34500
For New Positions:
Sell Nifty:
SL 15900 Tgts: 15735, 15675, 15625, 15550, 15500, 15450, 15375
Aggressive Traders Buy Nifty in 15450-15550 range:
Strict SL 15350 Tgt 15625, 15675, 15725, 15775, 15800, 15850, 15900
For New Positions:
Sell Bank Nifty:
SL 33800 Tgts: 33300, 33200, 33125, 33000, 32875, 32450, 32375, 32150
Buy Bank Nifty in 32150-32450 range:
SL 32000 Tgts: 32850, 33000, 33125, 33200, 33300, 33400
Aggressive Traders Buy Bank Nifty in 33000-33125 range:
Strict SL 32850 Tgt 33300, 33400, 33525, 33600, 33675, 33775, 33900, 34000
F&O Ban Update:
New In Ban: RBL Bank
Already In Ban: Delta Corp
Out Of Ban: Nil
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