Amid negative global markets, neutral Foreign Institutional Investors (FIIs), positive domestic institutional investors (DIIs), neutral Future and Options, cautious   sentiment, the short-term trend of the Indian market with remain positive on Monday, said Zee Business Managing Editor Anil Singhvi.  

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Anil Singhvi's strategy on Nifty, Bank Nifty on August 29, 2022 

Nifty support zone is 17150-17225, below that 16900-17025 is a strong buy zone 
 
Nifty higher zone is 17400-17450, above that 17475-17550 is a strong sell zone 
 
Bank Nifty support zone is 38175-38300, below that 37950-38050 is a strong buy zone 
 
Bank Nifty higher zone is 38700-38850, above that 38925-39000 is a strong sell zone 
 
Nifty support levels 17360, 17340, 17300, 17225, 17175, 17150, 17075, 17025, 16900

Nifty higher levels 17400, 17450, 17475, 17500, 17525, 17550 
 
Bank Nifty support levels 38650, 38550, 38400, 38300, 38225, 38175, 38050, 37950 
 
Bank Nifty higher levels 38700, 38750, 38850, 38925, 38975, 39050 
 
FIIs Index Long at 39% Vs 35%  
PCR at 0.96 Vs 1.05 
India VIX down by 7% at 18.22 

 
For Existing Long Positions: 

Nifty Intraday and Closing stoploss (SL) 17450 

BankNifty Intraday and Closing SL 38700 

 
For Existing Short Positions: 
 
Nifty Intraday and Closing SL 17625 
BankNifty Intraday and Closing SL 39050 

 
For New Positions: 
 
Sell Nifty: 
SL 17625 Tgt 17360, 17340, 17225, 17175, 17150, 17075, 17025 
 
Aggressive Traders Buy Nifty in 17150-17225 range: 
Strict SL 17000 Tgt 17300, 17340, 17360, 17400, 17425, 17450, 17475 

 

For New Positions: 
 
Sell BankNifty: 
SL 39050 Tgt 38650, 38550, 38400, 38300, 38225, 38175, 38050, 37950 

Aggressive Traders Buy BankNifty in 37950-38175 range:
Strict SL 37850 Tgt 37225, 37300, 37400, 37550, 37650, 37700

No Stocks in F&O Ban