Amid negative cues from global markets, negative Foreign Institutional investors (FIIs), positive domestic institutional investors (DIIs), neutral Future and Options (F&O) and neutral sentiments, the short-term trend of the Indian market will be negative on Monday, June 6, 2022, said Zee Business Managing Editor Anil Singhvi.  

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Earlier, the Indian market ended marginally lower on Friday as Nifty50 and Sensex closed 0.26% and 0.09% lower on Friday. The former slipped below 16,600 and the latter ended marginally lower by 49 points. However, benchmarks Nifty50 and Sensex closed higher by 1.4% and 1.6% respectively in the week ended June 3, 2022. Small cap and mid cap stock came under more selling pressure on Monday as Nifty midcap and small cap declined around 1.5% and 0.7% respectively. 

Here, Anil Singhvi's strategy on Nifty, Bank Nifty for June 6, 2022 

Nifty support zone is 16450-16525, below that 16275-16350 is a strong Buy zone 
Nifty higher zone is 16575-16650, above that 16700-16800 is a strong Sell zone 
Bank Nifty support zone is 34600-34800, below that 34425-34525 is a strong Buy zone 
Bank Nifty higher zone is 35625-35750, above that 35825-35950 is a strong Sell zone 
Nifty support levels are: 16525, 16450, 16400, 16350, 16275, 16225 
Nifty higher levels are: 16575, 16625, 16650, 16690, 16750, 16790 
Bank Nifty support levels are: 35100, 34950, 34800, 34600, 34525, 34425 
Bank Nifty higher levels are: 35375, 35475, 35625, 35750, 35825, 35950 

 
FIIs Index Long unchanged at 40% 
PCR at 0.97 Vs 1.18 
India VIX down by 2% at 19.98 

For Existing Long Positions: 
 
Nifty Intraday stoploss (SL) 16425 and Closing SL 16500 
Bank Nifty Intraday and Closing SL 35000 

For Existing Short Positions: 
 
Nifty Intraday and Closing SL 16700 
Bank Nifty Intraday SL 35650 and Closing SL 35825 

For New Positions: 
 
Sell Nifty: 
SL 16700 Tgts: 16525, 16450, 16400, 16350, 16275, 16225 
 
Buy Nifty in 16350-16450 range: 
SL 16225 Tgts: 16525, 16575, 16625, 16650, 16690 

 
For New Positions: 
Sell BankNifty: 
SL 35650 Tgts: 35100, 34950, 34800, 34600, 34525, 34425 
 
Buy BankNifty in 34600-34800 range: 
SL 34400 Tgts: 34950, 35075, 35250, 35375, 35475, 35625, 35750 
 
No Stock In F&O Ban