Anil Singhvi’s Strategy October 28: Day support zone on Nifty is 17650-17725 & Bank Nifty is 41025-41125

Amid positive global markets, negative domestic institutional investors (DIIs), positive foreign institutional investors (FIIs), neutral futures & options (F&O) and positive sentiment cues, the short-term trend of the Indian stock markets will be positive on Friday, October 28, 2022.

Nifty support zone 17650-17725, Below that 17525-17575 Strong Buy zone

Nifty higher zone 17775-17825, Above that 17875-17975 Strong Sell zone

Bank Nifty support zone 41025-41125, Below that 40650-40800 Strong Buy zone

Bank Nifty higher zone 41425-41525, Above that 41825-41975 Profit booking zone

Nifty support levels 17700, 17650, 17600, 17575, 17525

Nifty higher levels 17775, 17800, 17825, 17875, 17925, 17975

Bank Nifty support levels 41175, 41125, 41025, 40900, 40800, 40650

Bank Nifty higher levels 41450, 41525, 41675, 41825, 41975

- FIIs Index Long on higher side at 59% Vs 34%

- PCR at 1.10 Vs 0.96

- BankNifty PCR at 0.99 Vs 1.02

- India VIX down by 2% at 16.60

For Existing Long Positions:

Nifty Intraday and Closing SL 17625

BankNifty Intraday and Closing SL 41000

For Existing Short Positions:

Nifty Intraday and Closing SL 17825

BankNifty Intraday and Closing Stop Loss 41550

For New Positions:

Buy Nifty: Stop Loss 17625 Target 17775, 17800, 17825, 17875, 17925, 17975

Sell Nifty in 17875-17975 range: Stop Loss 18050 Target 17825, 17775, 17735, 17700, 17650

For New Positions :

Buy BankNifty: Stop Loss 41000 Target 41450, 41525, 41675, 41825, 41975

Aggressive Traders Sell BankNifty near 41800: Strict Stop Loss 41900 Target 41550, 41475, 41425, 41300, 41200, 41125

F&O Ban Update:

Out Of Ban: BHEL, PNB

New In Ban: Nil

Already in Ban: Nil