Anil Singhvi's Strategy 23 Sept: Support zone on Nifty is 17425-17525, Bank Nifty is 40200-40375

Amid negative global markets, negative foreign institutional investors (FIIs), neutral domestic institutional investors (DIIs), neutral future and options (F&O) and neutral sentiment, the short-term trend of the Indian market will remain positive on Friday, said Zee Business Managing Editor Anil Singhvi.  

Anil Singhvi's strategy on Nifty, Bank Nifty on 23 September, 2022 
 
Nifty support zone is 17425-17525, below that 17300-17380 is a strong buy zone 
 
Nifty higher zone is 17725-17825, above that 17875-17925 is a profit booking zone 
 
Bank Nifty support zone is 40200-40375, below that 39900-40075 is a strong buy zone 
 
Bank Nifty higher zone is 40875-41150, above that 41200-41400 is a profit booking zone 
 
Nifty support levels are: 17600, 17575, 17525, 17500, 17475, 17425, 17400 
 
Nifty higher levels 17765, 17700, 17725, 17775, 17800, 17825, 17875 
 
Bank Nifty support levels 40500, 40375, 40275, 40200, 40075, 39900, 39800 
 
Bank Nifty higher levels 40685, 40775, 40900, 41150, 41200, 41400, 41475 
 
FIIs Index Long at 29% Vs 34%  
PCR at 1.04 Vs 0.95 
BankNifty PCR at 0.76 Vs 0.89 
India VIX down by 3% at 18.82 

For Existing Long Positions: 
 
Nifty Intraday SL 17500 and Closing SL 17400 
Bank Nifty Intraday SL 40200 and Closing SL 40500 
 
For Existing Short Positions: 
 
Nifty Intraday SL 17725 and Closing SL 17825 
Bank Nifty Intraday SL 40900 and Closing SL 41200   

For New Positions: 
 
Buy Nifty in 17425-17525 range: 
SL 17300 Tgt 17575, 17600, 17625, 17665, 17690, 17725, 17775, 17825 
 
Sell Nifty in 17725-17875 range: 
SL 17950 Tgt 17700, 17665, 17625, 17575, 17535, 17500, 17475, 17425 
 
For New Positions: 
 
Buy Bank Nifty in 40200-40375 range: 
SL 40000 Tgt 40500, 40625, 40685, 40775, 40900, 41150, 41200 
 
Sell Bank Nifty in 41150-41200 range: 
SL 41500 Tgt 40900, 40775, 40700, 40625, 40500, 40375, 40275, 40200 
 
Total 5 Stocks in F&O Ban: 
New In Ban: PNB 
Out Of Ban: Escorts, PVR 
Already In Ban: Ambuja Cement, Canfin homes, Delta Corp, RBL Bank