Anil Singhvis Strategy June 16: Support zone on Nifty is 15650-15725, Bank Nifty is 33000-33125

Amid positive global markets, negative Foreign Institutional Investors (FIIs), positive Domestic Institutional Investors (DIIs), neutral Futures and Options (F&O) and cautious sentiment, the short-term trend of the Indian market will be negative on Thursday, June 16, 2022. 

Earlier, the Indian market has ended in the red as benchmarks Nifty 50 and Sensex settled with 0.25% and 09% cuts respectively. Headline indices closed at 15,692.15 and 52,541.39 amid profit booking in IT, metal, oil & gas, realty and banking stocks 

Zee Business Managing Editor Anil Singhvi's strategy on Nifty, Bank Nifty on June 16, 2022  

Nifty support zone 15650-15725, Below that 15450-15550 strong Support zone 
 
Nifty higher zone 15850-15900, Above that 15975-16075 strong Sell zone 
 
Bank Nifty support zone 33000-33125, Below that 32150-32450 strong Buy zone 
 
Bank Nifty higher zone 33550-33750, Above that 33900-34175 strong Sell zone 
 
Nifty support levels 15675, 15650, 15625, 15550, 15500, 15450, 15375 
 
Nifty higher levels 15735, 15775, 15850, 15900, 15975, 16000, 16075 
 
Bank Nifty support levels 33250, 33200, 33125, 33000, 32875, 32450, 32375, 32150 
 
Bank Nifty higher levels 33400, 33550, 33625, 33750, 33900, 34000, 34175, 34350 
 
FIIs Index Long at oversold level unchanged at 11% 
PCR near oversold levels at 0.75 Vs 0.73, short covering expected 
India VIX up by 1% at 22.15  

For Existing Long Positions: 
 
Nifty Intraday n Closing SL 15650 
BankNifty Intraday n Closing SL 32950 

 
For Existing Short Positions: 
 
Nifty Intraday SL 15900 n Closing SL 16200 
BankNifty Intraday SL 33800 n Closing SL 34500 

For New Positions: 
 
Aggressive Traders Buy Nifty: 
Strict SL 15650 Tgt 15735, 15775, 15850, 15900, 15975, 16000 
 
Aggressive Traders Sell Nifty in 15850-15975 range: 
Strict SL 16075 Tgt 15800, 15775, 15740, 15675, 15650, 15625, 15550, 15500 
 
For New Positions: 
 
Buy BankNifty in 32150-32450 range: 
SL 32000 Tgt 32850, 33000, 33125, 33200, 33300, 33400 
 
Aggressive Traders Buy BankNifty: 
Strict SL 32950 Tgt 33400, 33550, 33625, 33750, 33900, 34000 
 
Aggressive Traders Sell BankNifty in 33750-33900 range: 
Strict SL 34200 Tgt 33700, 33625, 33550, 33400, 33300, 33250, 33125, 33000 
 
F&O Ban Update: 
New In Ban: 
Already In Ban: IB Housing Finance, RBL Bank, Delta Corp 
Out Of Ban: Nil