Anil Singhvi strategy June 16: Important levels to track in Nifty, Nifty Bank today

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi shares his strategy for the June 16 session. Check out his take on key support and resistance levels for the Nifty and the Nifty Bank, and how he views the market.

Zee Business Managing Editor Anil Singhvi sees a strong buy zone for Nifty emerging at 18,535-18,565 levels.

Anil Singhvi Market Strategy: Zee Business Managing Editor Anil Singhvi sees support for the Nifty index coming in at 18,600-18,660 levels and a strong buy zone at 18,535-18,565 levels on Friday, June 16. For the Nifty Bank, the market wizard sees support at 43,275-43,400 levels and a strong buy zone at 43,000-43,200 levels.

Here's how Anil Singhvi sums up the market setup:

Global: Positive
FII: Positive

TRENDING NOW
DII: Neutral
F&O: Neutral
Sentiment: Positive
Trend: Positive

For the 50-scrip headline index, he expects a higher zone at 18,725-18,775 levels and a profit-booking zone at 18,800-18,875 levels. For the banking index, he sees a higher zone at 43,675-43,800 levels and a strong sell zone at 43,850-43,975 levels.

FII index longs at 52 per cent vs 54 per cent
Nifty put-call ratio (PCR) for all contracts at 1.13 vs 1.23
Nifty Bank PCR for all contracts at 0.66 vs 0.73, near oversold level
Fear index India VIX down 0.74 per cent at 11.08

ANIL SINGHVI MARKET STRATEGY

For existing long positions:

Nifty intraday and closing stop loss at 18,550
Nifty Bank intraday and closing stop loss at 43,000

For existing short positions:

Nifty intraday and closing stop loss at 18,825
Nifty Bank intraday and closing stop loss at 44,000

For new positions in Nifty:

Buy Nifty with a stop loss at 18,550 for targets of 18,725, 18,750, 18,770, 18,790, 18,815 and 18,875
Sell Nifty in 18,750-18,825 range with a strict stop loss at 18,900 for target of 18,725, 18,690, 18,660, 18,635 and 18,600

For new positions in Nifty Bank:

Buy Nifty Bank in the 43,200-43,400 range with a stop loss at 43,000 for targets of 43,500, 43,675, 43,750, 43,800 and 43,875
Aggressive traders can buy Nifty Bank with a stop loss at 43,200 for targets of 43,675, 43,750, 43,800, 43,875, 43,925 and 43,975
Aggressive traders can sell Nifty Bank in the 43,850-44,000 range with a stop loss at 44,200 for targets of 43,750, 43,675, 43,525, 43,450, 43,400, 43,325, 43,275 and 43,200

F&O ban update:

New in ban: Tata Chemicals, L&T Finance Holdings
Already in ban: BHEL, Manappuram, Indiabulls Housing Finance, India Cements, IEX, Delta Corp, ZEEL
Out of ban: None

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