Anil Singhvi's strategy on 27 Sept: Support zone on Nifty is 16875-16925 and Bank Nifty is 38200-38350

Anil Singhvi's strategy on 27 Sept: Amid neutral global markets, negative foreign institutional investors (FIIs), positive domestic institutional investors (DIIs), positive future and options and cautious sentiment, the short-term trend of the Indian market will remain positive on Tuesday, September 27, 2022, said Zee Business Managing Editor Anil Singhvi. 

Anil Singhvi's strategy on Nifty, Bank Nifty on September 27, 2022

Nifty support zone 16875-16925, Below that 16725-16800 Strong Buy zone

Nifty higher zone 17150-17225, Above that 17300-17350 Profit booking zone

Bank Nifty support zone 38200-38350, Below that 37950-38050 Strong Buy zone

Bank Nifty higher zone 39050-39200, Above that 39400-39550 Profit booking zone

Nifty support levels 16975, 16925, 16875, 16800, 16750, 16725, 16700

Nifty higher levels 17100, 17150, 17200, 17225, 17300, 17325, 17350

Bank Nifty support levels 38500, 38350, 38200, 38050, 37950, 37750, 37625

Bank Nifty higher levels 38750, 38900, 39050, 39125, 39200, 39325, 39400, 39550

FIIs Index Long at 23% Vs 20%

PCR at 0.70 Vs 0.76

Bank Nifty PCR at oversold levels at 0.57 Vs 0.56, short covering expected

India VIX up by 6% at 21.89

For Existing Long Positions:

Nifty Intraday SL 16900 n Closing SL 17000

BankNifty Intraday n Closing SL 38450

For Existing Short Positions:

Nifty Intraday SL 17225 n Closing SL 17325

BankNifty Intraday SL 39050 n Closing SL 39550

For New Positions:

Buy Nifty:

SL 16900 Tgt 17100, 17150, 17200, 17225, 17300, 17325, 17350

Sell Nifty in 17200-17325 range:

SL 17450 Tgt 17175, 17150, 17100, 17025, 16975, 16925

For New Positions:

Buy BankNifty:

SL 38450 Tgt 38750, 38900, 39050, 39125, 39200, 39325, 39400, 39550

Sell BankNifty in 39200-39400 range:

SL 39600 Tgt 39125, 39050, 38900, 38750, 38625, 38500, 38350

Total 3 Stocks in F&O Ban:

Out Of Ban: Ambuja Cement, Canfin homes, Delta Corp

Already In Ban: ZEEL, Vodafone Idea, PNB

New In Ban: Nil