Anil Singhvi's Market Strategy June 26: Bearish on Metals, IT; Market trend to be neutral

The Indian markets on Monday, June 25, 2018, opened green but closed in the red. The S&P BSE Sensex ended down by 219.25 points (0.61%) at 35,470.35. While, Nifty and BankNifty went down by 59.40 points (0.55%) and 157.15 points (0.59%) to close at 10,762.45 and 26,609.70 respectively. 

However, the neutral foreign institutional investors (FII), domestic institutional investors (DIIs), Futures and Options (F&O) and negative global outlook hint that the short term trend of the Indian market will remain neutral on June 26. 

When it comes to sentiments, the traders are advised to remain cautious while investing in the market today. 

Zee Business's Managing Editor Anil Singhvi's Market Strategy for June 26: 
10,700-10,835 is going to be the trading range on Nifty.
26,500 will be the deciding level on BankNifty. 
Small trade range on BankNifty is going to be between 26,500-26,650 and the bigger range stands between 26,300-26,800 
10,675-10,700 and 26,250-26,300 are going to be the strong support level on Nifty and BankNiftyrespectively. 

Anil Singhvi suggests the traders to reduce their buying positions on Nifty and BankNifty if they close below the mark of 10,700 and 26,450 respectively. 

Buy and Sell Strategy on Nifty
Sell Nifty with a stop loss of 10,835 and a target of 10,725-10,700-10,675
Buy Nifty in the range of 10,675-10,700 with a stop loss of 10,650 and a target of 10,725-10,750. 

Buy and Sell Strategy on BankNifty
Sell BankNifty with a stop loss of 26,800 and a target of 26,500-26,350.
Buy BankNifty near 26,350 with a stop loss of 26,250 and a target of 26,500. 

The put-call ratio (PCR) for June 26 stands at 1.48 and volatility index (VIX) is 12.58.  

Watch this Zee Business video here:

Negative: Metals, IT

Enters F&O Ban: Wockhardt

Out of Ban: Nil

5 Already In Ban: Dewan Housing Finance Corporation Limited (DHFL), Infibeam, JP Associates, CG Power and IDBI