Amid neutral global markets, negative Foreign Institutional Investors (FIIs), positive Domestic Institutional Investors (DII), neutral Future and Options (F&O) and neutral sentiment, the short-term trend of the Indian market will be negative on Monday, July 4, 2022, said Zee Business Managing Editor Anil Singhvi.
Earlier, the Indian market had closed with marginal cuts on Friday. Benchmark Nifty50 dropped 0.18% to 15,752 and barometer Sensex fell 0.21% to 52,907.
Anil Singhvi’s Strategy on Nifty, Bank Nifty on July 4,2022
Nifty support zone is 15625-15700, below that 15500-15550 is a strong Buy zone
Nifty higher zone is 15800-15850, above that 15875-15975 is a strong Profit booking zone
Bank Nifty support zone is 33100-33200, below that 32650-32850 is a strong Buy zone
Bank Nifty higher zone is 33650-33800, above that 34000-34150 is a strong Profit booking zone
Nifty support levels: 15725, 15700, 15650, 15625, 15550, 15500
Nifty higher levels: 15775, 15800, 15850, 15890, 15925, 15975
Bank Nifty support levels 33425, 33300, 33200, 33100, 33000, 32925, 32850
Bank Nifty higher levels 33650, 33725, 33800, 33900, 34000, 34125, 34275, 34350
FIIs Index Long at oversold levels at 16% Vs 15%, short covering expected
PCR at 1.14 Vs 1.16
India VIX down by 3% at 21.25
For Existing Long Positions:
Nifty Intraday stoploss (SL) 15500 and Closing SL 15675
Bank Nifty Intraday and Closing SL 33000
For Existing Short Positions:
Nifty Intraday and Closing SL 15950
Bank Nifty Intraday and Closing SL 33850
For New Positions:
Buy Nifty in 15550-15675 range:
SL 15500 Tgt 15725, 15750, 15775, 15800, 15850, 15890, 15925
Sell Nifty in 15800-15925 range:
SL 16000 Tgt 15775, 15750, 15725, 15700, 15675, 15625, 15550, 15525
For New Positions:
Buy Bank Nifty in 33100-33300 range:
SL 33000 Tgt 33425, 33500, 33650, 33725, 33800, 33900, 34125
Aggressive Traders Sell Bank Nifty in 33650-33800 range:
Strict SL 33850 Tgt 33500, 33425, 33300, 33200, 33125, 33075, 33000
No Stock in F&O Ban
