Anil Singhvis Market Strategy June 27: FMCG positive, OMC, Aviation to be bearish today
Indian stock markets closed flat on June 26, 2018. The benchmark index S&P BSE Sensex closed up by 19.69 points high (0.06%) at 35,490.04 and Nifty was higher by 6.70 points(0.06%) high at 10,769.15. On the other hand, BankNifty went down by 8 points (0.03%) to close at 26,601.70.
Indian stock markets closed flat on June 26, 2018. The benchmark index S&P BSE Sensex closed up by 19.69 points high (0.06%) at 35,490.04 and Nifty was higher by 6.70 points(0.06%) high at 10,769.15. On the other hand, BankNifty went down by 8 points (0.03%) to close at 26,601.70.
However, the neutral trend from domestic institutional investors (DIIs), foreign institutional investors (FII), Futures and Options (F&O) and global outlook cues hint that the short term trend of the Indian market will remain neutral today, .i.e. on June 27, 2018.
Traders are advised to trade cautiously today.
Zee Business's Managing Editor Anil Singhvi's Market Strategy for June 27:
10,750 and 26,600 are going to be deciding points in Nifty and BankNifty respectively.
10,700-10,835 is going to be the intraday trade range on Nifty
10,700-10,800 will be the closing trade range on Nifty
In case of BankNifty, 26450-26700 is going to be the small trade range, while 26400-26800 will be the bigger range for trade.
The strong support zones on Nifty and BankNifty today stands at 10,700-10,725 and 26,400-26,500 respectively.
Anil Singhvi suggests that traders should reduce their buying positions on Nifty and BankNifty if they close below the mark of 10,700 and 26,500 respectively.
Buy and Sell strategy on Nifty
The traders are advised to buy Nifty with a stop loss of 10,700 and target of 10,800-10,825.
Sell Nifty in the range of 10,800-10,825 with a stop loss of 10,850 and target of 10,750.
Watch this Zee Business video here:
Buy and Sell strategy on BankNifty
Buy BankNifty with a stop loss of 26,450 with a target of 26,700-26,800.
Sell BankNifty above 26,750 with a stop loss of 26,825 with a target of 26,650.
The put-call ratio (PCR) for June 27 stands at 1.53 and volatility index (VIX) is 12.80.
Positive: FMCG
Negative: OMC, Aviation
Enters F&O Ban: Jain Irrigation
Out of Ban: Nil
6 Already In Ban: Dewan Housing Finance Corporation Limited (DHFL), Infibeam, JP Associates, CG Power, IDBI, Wockhardt
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