Anil Singhvi strategy on Sept 1: Support zone on Nifty is 17340-17400, Bank Nifty is 38850-39050

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

Anil Singhvi Strategy on Nifty, Bank Nifty on September 1, 2022  

Nifty support zone is 17340-17400, below that 17150-17225 is a strong buy zone  

Nifty higher zone is 17475-17550, above that 17600-17650 is a strong sell zone  

Bank Nifty support zone is 38850-39050, below that 38550-38750 is a strong buy zone  

Bank Nifty higher zone is 39200-39375, above that 39550-39750 is a strong sell zone  

Nifty support levels 17500, 17450, 17400, 17340, 17300, 17225, 17175, 17150  

Nifty higher levels 17550, 17575, 17600, 17625, 17650, 17700  

Bank Nifty support levels 39050, 38925, 38850, 38800, 38750, 38700, 38650, 38550  

Bank Nifty higher levels 39200, 39250, 39375, 39450, 39550, 39650, 39700, 39750  

FIIs Index Long at 43% Vs 34%  

PCR near overbought level at 1.37 Vs 0.98 

India VIX down by 6% at 18.70 

  

For Existing Long Positions:  

Nifty Intraday stoploss (SL) 17400 and Closing SL 17300 

Bank Nifty Intraday and Closing SL 38900 

  

For Existing Short Positions: 

Nifty Intraday and Closing SL 17800 

Bank Nifty Intraday and Closing SL 39750 

  

For New Positions: 

Buy Nifty in 17150-17225 range: 

SL 17075 Tgt 17300, 17340, 17400, 17450, 17475, 17500, 17550  

Aggressive Traders Buy Nifty in 17340-17425 range: 

Strict SL 17275 Tgt 17450, 17500, 17525, 17550, 17575, 17600, 17625, 17650  

Sell Nifty only if it opens with a small Gap-down: 

SL 17650 Tgt 17500, 17450, 17400, 17360, 17340, 17225, 17175  

For New Positions:  

Buy Bank Nifty in 38500-38700 range: 

SL 38275 Tgt 38750, 38800, 38850, 38925, 38975, 39050 

  

Aggressive Traders Buy Bank Nifty in 38800-39000 range: 

Strict SL 38650 Tgt 39125, 39200, 39250, 39325, 39450, 39550, 39650, 39700 

  

Sell Bank Nifty only if it opens with a small Gap-down: 

SL 39600 Tgt 38925, 38850, 38800, 38750, 38650, 38550, 38475 

  

No Stocks in F&O Ban