Anil Singhvi's Market Strategy June 28: Sentiments negative; OMC, Aviation, High Beta Midcaps to be bearish today

Indian benchmark indexes declined sharply a day before the expiry of June series. The decline was also favoured by higher crude prices and the decline in the value of rupee, which was at a 19-month low. On June 27, 2018, the S&P BSE Sensex dropped by 273.93 points (0.77%) to close at 35,217.11, while Nifty and BankNifty also declined by 97.75 points (0.91%) to close at 10,671.40 and 178.30 points (0.67%) at 26,423.40 respectively. 

However, the neutral trend from domestic institutional investors (DIIs), foreign institutional investors (FII), negative futures and options (F&O) and Global outlook cues suggests that the short-term trend of the Indian market will be neutral on June 28, 2018. In addition, traders sentiments will be negative today. 

The Asian market, crude prices, rupee value and F&O expiry are the major factors that will have an impact on the market. 

Zee Business's Managing Editor Anil Singhvi's Market Strategy for June 28: 
10,700 and 26,500 are going to be a deciding level on Nifty and BankNifty. 
Small trade range on Nifty is going to be between 10,600-10,735 and bigger range will be between 10,550-10,775.
Small trade range on BankNifty lies between 26,300-26,600 and the bigger range exists at 26,150-26,700. 
Next support zone on Nifty and BankNifty will be at 10,575-10,600 and 26,150-26,250 respectively. 
If Nifty and BankNifty trades above 10,700 and 26,400 and also closes above the same mark, then it should be considered as the first sign of strength in the market. 

Anil Singhvi suggests traders reduce their positions in Nifty and BankNifty if they close below the mark of 10,700 and 26,400. 

Sell and Buy Strategy on Nifty
Sell Nifty with a stop loss of 10,750 and a target of 10,625-10,600-10,575. 
Buy Nifty near 10,575 with a stop loss of 10,550 and a target between 10,600-10,625. 

Sell and Buy Strategy on BankNifty
Sell BankNIfty near 26,500 with a stop loss of 26,650 and a target between 26,400-26,300. 
Buy BankNifty near 26,250 with a stop loss of 26,250 with a target of 26,400. 

The put-call ratio (PCR) for today stands at 1.35 and volatility index (VIX) is 13.51. 

Watch this Zee Business video here:

Negative: OMC, Aviation and High Beta Midcaps

Enters F&O Ban: Nil

Out of Ban: CG Power, IDBI

5 Already In Ban: Dewan Housing Finance Corporation Limited (DHFL), Infibeam, JP Asso, Wockhardt, Jain Irrigation