Anil Singhvi Strategy on Aug 26: Support zone on Nifty is 17475-17525, Bank Nifty is 38750-38925

Amid positive global markets, neutral Foreign Institutional Investors (FIIs), neutral domestic Institutional Investors (FIIs), neutral Future and Options (F&O) and positive sentiment, the short-term of the Indian market will remain positive on Friday, August 26, said Zee Business Managing Editor Anil Singhvi. 
 

Anil Singhvi's strategy on Nifty, Bank Nity on August 26 

Nifty support zone 17475-17525, below that 17340-17450 is a strong buy zone 
 
Nifty higher zone is 17575-17625, above that 17650-17775 is a Profit booking zone 
 
Bank Nifty support zone is 38750-38925, below that 38550-38700 is a strong buy zone 
 
Bank Nifty higher zone is 39200-39250, above that 39450-39650 is a profit booking zone 
 
Nifty support levels 17500, 17475, 17450, 17400, 17360, 17340 
 
Nifty higher levels 17575, 17600, 17625, 17650, 17700, 17725, 17775 
 
Bank Nifty support levels 38925, 38850, 38800, 38750, 38700, 38650, 38550 
 
Bank Nifty higher levels 39050, 39125, 39200, 39250, 39325, 39450, 39500, 39650 
 
FIIs Index Long light and comfortable at 35% Vs 45%  
PCR at 1.05 Vs 1.00 
India VIX up by 6% at 19.57 

 
For Existing Long Positions: 

Nifty Intraday and Closing SL 17450 

Bank Nifty Intraday SL 38750 n Closing SL 38500 

 
For Existing Short Positions: 
 
Nifty Intraday SL 17750 and Closing SL 17675 
Bank Nifty Intraday SL 39500 and Closing SL 39250 

For New Positions: 
 
Buy Nifty: 
SL 17450 Tgt 17575, 17600, 17625, 17650, 17700, 17725, 17775 
 
Sell Nifty in 17700-17775 range: 
SL 17850 Tgt 17650, 17625, 17600, 17575, 17525, 17500, 17475 

For New Positions: 
 
Buy Bank Nifty: 
SL 38750 Tgt 39125, 39200, 39250, 39325, 39450, 39500, 39650 
 
Sell Bank Nifty in 39450-39650 range: 
SL 39800 Tgt 39250, 39200, 39125, 39050, 38950, 38850, 38800, 38750 
 
F&O Ban Update: 
Out Of Ban: RBL Bank 
New In Ban: Nil 
Already In Ban: Nil 
 
Syrma SGS Technology Listing Preview: 
Expected to list in 240-260 range 
Keep strict Stoploss of issue price 220