Anil Singhvi Strategy June 10: Support zone on Nifty is 16240-16265, Bank Nifty is 34650-34825

Amid negative global markets, negative Foreign Institutional Investors (FIIs), positive Domestic Institutional Investors (DIIs), neutral Futures and Options (F&O) and negative sentiments, the short-term trend for the Indian market will remain negative on Friday, said Zee Business Managing Editor Anil Singhvi.  

Earlier, the domestic stock market ended a four-day losing streak on Thursday. Benchmarks Nifty50 gained 121.85 (0.74%) to end at 16,478.10, while Sensex settled at 55,320.28, a gain of 427.79 or (0.78%) from their previous closings. Energy, pharma, healthcare and IT stocks were top gainers, while profit booking was seen in metal and PSU bank stocks on Thursday.  

Anil Singhvi's strategy on Nifty, Bank Nifty on June 10, 2022. 

Nifty support zone is 16240-16265 and 16125-16175, below that 16000-16075 is a strong Buy zone 
 
Nifty higher zone is 16350-16425, above that 16450-16525 is a strong Sell zone 
 
Bank Nifty support zone is 34650-34825 and 34350-34525, below that 34125-34250 is a strong Buy zone 
 
Bank Nifty higher zone is 34825-34950, above that 35000-35175 is a strong Sell zone 
 
Nifty support levels are 16350, 16300, 16265, 16240, 16200, 16175, 16125, 16075 
 
Nifty higher levels are 16425, 16450, 16475, 16500, 16525 
 
Bank Nifty support levels are 34825, 34675, 34600, 34525, 34350, 34250, 34125 
 
Bank Nifty higher levels 34950, 35000, 35075, 35150, 35275, 35350, 35450

 
FIIs Index Long at 24% Vs 27% 
PCR at 1.28 Vs 0.72 
India VIX down by 3% at 19.14 

 
For Existing Long Positions: 
 
Nifty Intraday stoploss (SL) 16175 and Closing SL 16350 
Bank Nifty Intraday and Closing SL 34800 

 
For Existing Short Positions: 
 
Nifty Intraday and Closing SL 16525
Bank Nifty Intraday and Closing SL 35300 

For New Positions: 
 
Sell Nifty: 
SL 16525, Tgts: 16300, 16265, 16240, 16200, 16175, 16125, 16075, 16000 
 
Buy Nifty in 16125-16200 range: 
SL 16000 Tgts: 16240, 16265, 16300, 16350, 16425, 16450, 16475, 16500 
 
For New Positions: 
 
Sell Bank Nifty: 
SL 35300 Tgts: 34825, 34675, 34600, 34525, 34350, 34250, 34125 
 
Buy Bank Nifty in 34525-34675 range: 
SL 34350 Tgts: 34800, 34850, 34950, 35000, 35075, 35175, 35275, 35350 
 
F&O Ban Update: 
Already In Ban: Delta Corp 
New In Ban: Nil 
Out Of Ban: Nil