Anil Singhvi's Strategy on August 17: Market Guru gives Nifty, Bank Nifty support zones; check key levels today

Amid positive global cues, positive Foreign Institutional Investors (FIIs), neutral Domestic Institutional Investors (DIIs), neutral Future and Options (F&O) and positive sentiment, the short-term trend of the Indian market will remain positive on Wednesday, August 18, 2022, said Zee Business Managing Editor Anil Singhvi.   

Earlier on Tuesday, the market ended higher by around 0.70%. Benchmark Nifty50 rose 127.10 (0.72%) to 17,825.25 and the Sensex gained 379.43 points or (0.64%) to 59,842.21.   

Anil Singhvi's strategy on Nifty and Bank Nifty on August 17, 2022 

Nifty support zone is 17700-17775, below that 17600-17650 is a strong buy zone 

Nifty higher zone is 17900-17950, above that 18000-18100 is a profit booking zone 

Bank Nifty support zone is 38925-39050, below that 38750-38875 is a strong buy zone. 
 
Bank Nifty higher zone is 39425-39575, above that 39675-39750 is a Profit booking zone 
 
Nifty support levels: 17800, 17775, 17725, 17700, 17650, 17600, 17525 
 
Nifty higher levels: 17850, 17900, 17950, 18000, 18050, 18100 
 
Bank Nifty support levels: 39125, 39050, 38925, 38875, 38750, 38650 
 
Bank Nifty higher levels: 39325, 39425, 39500, 39575, 39675, 39750 
 
FIIs Index Long at 59% Vs 58%  
PCR at 1.26 Vs 1.24 
India VIX unchanged at 17.69 
 
For Existing Long Positions: 
 
Nifty Intraday stoploss (SL) 17675 and Closing SL 17625 
Bank Nifty Intraday SL 38975 and Closing SL 38850 
 
For Existing Short Positions: 
 
Nifty Intraday and Closing SL 17850 
Bank Nifty Intraday and Closing SL 39500 

For New Positions: 
 
Buy Nifty: 
SL 17675 Tgt 17850, 17900, 17950, 18000, 18050, 18100 
 
Sell Nifty in 17950-18050 range: 
SL 18125 Tgt 17900, 17850, 17825, 17800, 17775, 17725, 17700, 17650 
 
For New Positions: 
 
Buy Bank Nifty: 
SL 38975 Tgt 39325, 39425, 39500, 39575, 39675, 39750 
 
Aggressive Traders Sell BankNifty in 39500-39675 range: 
Strict SL 39750 Tgt 39425, 39325, 39250, 39125, 39050, 38925, 38875 
 
F&O Ban Update: 
Already In Ban: Tata Chemicals, Balrampur Chini, Delta Corp 
New In Ban: Nil 
Out Of Ban: Nil