Anil Singhvi's strategy on 03 October: Support zone on Nifty is 16950-16975 and Bank Nifty is 38200-38375

Anil Singhvi's strategy on 03 October: Amid negative global markets, neutral foreign institutional investors (FIIs), positive domestic institutional investors (DIIs), neutral future and options, and cautious sentiment, the short-term trend of the Indian market will remain positive on Monday, October 03, 2022, said Zee Business Managing Editor Anil Singhvi.

Anil Singhvi's strategy on Nifty, Bank Nifty on October 03, 2022

Nifty support zone 16950-16975, Below that 16750-16850 Strong Buy zone

Nifty higher zone 17100-17200, Above that 17300-17325 Profit booking zone

Bank Nifty support zone 38200-38375, Below that 37550-37750 Strong Buy zone

Bank Nifty higher zone 38625-38800, Above that 38900-39050 Profit booking zone

Nifty support levels 17025, 17000, 16975, 16950, 16850, 16825, 16750

Nifty higher levels 17100, 17175, 17200, 17300, 17325

Bank Nifty support levels 38375, 38300, 38200, 38050, 37750, 37650, 37550, 37400

Bank Nifty higher levels 38500, 38625, 38800, 38900, 39050, 39200

FIIs Index Long near lowest level at 16% Vs 13%

PCR at 1.22 Vs 1.02

BankNifty PCR at 1.05 Vs 0.68

India VIX down by 6% at 19.97

For Existing Long Positions:

Nifty Intraday SL 16725 n Closing SL 16800

BankNifty Intraday SL 38000 n Closing SL 38350

For Existing Short Positions:

Nifty Intraday n Closing SL 17200

BankNifty Intraday n Closing SL 38850

For New Positions:

Buy Nifty in 16750-16850 range:

SL 16700 Tgt 16950, 16975, 17000, 17025, 17100, 17175, 17200

Sell Nifty in 17100-17200 range:

SL 17325 Tgt 17025, 17000, 16975, 16950, 16850, 16825, 16750

For New Positions:

Buy BankNifty in 37550-37750 range:

SL 37350 Tgt 37950, 38050, 38200, 38275, 38350, 38500

Aggressive Traders Buy BankNifty in 38200-38375 range:

Strict SL 38100 Tgt 38500, 38625, 38800, 38900, 39050, 39125, 39200

Sell BankNifty in 38625-38800 range:

SL 38900 Tgt 38500, 38375, 38300, 38200, 38050, 37750, 37650, 37550

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