Anil Singhvi's Market Strategy June 15: Pharma sector to be positive; Dr Reddy's is stock of the day

Following the interest rate hikes by US Federal Reserve, the benchmark indices Sensex and Nifty on Thursday closed on a poor note. This was the second rate hike of the year by Federal Reserve and it has hinted at two more such hikes in the remainder of 2018. 

On Thursday, i.e. June 14, 2018, S&P BSE Sensex closed down by 139.34 points (0.39%) at 35,599.82 and NIFTY 50 went down by 48.65 points (0.45%)  to close at 10,808.05. 

However, amid positive Domestic Institutional Investors (DIIs), neutral Future and Options (F&O), global outlook and negative foreign institutional investor (FII)  cues, the trend of the Indian market is going to be positive today, June 15, 2018.

When it comes to sentiments, traders are advised to be cautious while trading in the market on Friday. The last day of the week is likely to go dull. 

Zee Business's Managing Editor Anil Singhvi's Market Strategy for June 15: 

10,800 and 26,500 are going to be deciding points in Nifty and BankNifty respectively. 

In case of Nifty, 10,750-10,850 is going to be the small trading range, while 10,700-10,900 will be the bigger range for trade. 

When it comes to BankNifty, the small trade range stands at 26,450-26,650 and the bigger range will be between 26350-26750. 

If NIfty and BankNifty start trading below 10775 and 26500, then this should be considered as the first sign of weakness in the market.

The next strong support zones in Nifty and BankNifty for June 15 stands at 10,700-10,750 and 26,350-26,450 respectively. 

10,.875-10,900 and 26,750-26,800 are going to be the profit booking zone at Nifty and BankNifty. 

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Anil Singhvi suggests that traders to reduce their buying positions on Nifty and BankNifty if they close below the mark of 10,750 and 26,450 respectively. 

Sell and Buy strategy on Nifty 

Sell Nifty with a stop loss of 10,850 and a target of 10,775-10,750.

Buy Nifty near 10,750 with a stop loss of 10,700 and a target of 10,800. 

Sell and Buy strategy on BankNifty 

Sell BankNifty with a stop loss of 26,650 and a target of 26,500-26,450.

Buy BankNifty below 26,450 with a stop loss of 26,350 and a target of 26,550-26,650.

The put-call ratio (PCR) for today stands at 1.55 and volatility index (VIX) is 12.10. 

Enters F&O Ban: Nil

4 Already In Ban: Dewan Housing Finance Corporation Limited (DHFL), Balrampur Chini, Jet Airways, Just Dial

Positive: Pharma

Stock of the Day: Dr Reddy's