Anil Singhvi's strategy on 28 Sept: Support zone on Nifty is 16875-16950 and Bank Nifty is 37950-38050

Anil Singhvi's strategy on 28 Sept: Amid negative global markets, negative foreign institutional investors (FIIs), positive domestic institutional investors (DIIs), positive future and options and negative sentiment, the short-term trend of the Indian market will remain positive on Wednesday, September 28, 2022, said Zee Business Managing Editor Anil Singhvi.

Anil Singhvi's strategy on Nifty, Bank Nifty on September 28, 2022

Nifty support zone 16875-16950, Below that 16725-16800 Strong Buy zone

Nifty higher zone 17175-17200, Above that 17300-17325 Profit booking zone

Bank Nifty support zone 37950-38050, Below that 37650-37750 Strong Buy zone

Bank Nifty higher zone 38500-38625, Above that 38925-39050 Profit booking zone

Nifty support levels 16950, 16925, 16875, 16800, 16750, 16725, 16700

Nifty higher levels 17025, 17100, 17150, 17175, 17200, 17300

Bank Nifty support levels 38200, 37950, 37750, 37650, 37500, 37375, 37250

Bank Nifty higher levels 38500, 38625, 38750, 38900, 39050, 39125, 39200

FIIs Index Long at 21% Vs 23%

PCR unchanged at 0.70

BankNifty PCR at oversold levels at 0.54 Vs 0.57, short covering expected

India VIX down by 1.5% at 21.57

For Existing Long Positions:

Nifty Intraday SL 16800 n Closing SL 16925

BankNifty Intraday SL 37950 n Closing SL 38150

For Existing Short Positions:

Nifty Intraday SL 17225 n Closing SL 17325

BankNifty Intraday n Closing SL 39050

For New Positions:

Buy Nifty in 17800-17875 range:

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

Sell Nifty in 17150-17225 range:

SL 17350 Tgt 17100, 17025, 17000, 16975, 16950, 16875, 16800

For New Positions:

Buy BankNifty in 37650-37750 range:

SL 37500 Tgt 37950, 38050, 38200, 38350, 38500, 38625

Aggressive Traders Buy BankNifty in 37950-38050 range:

Strict SL 37850 Tgt 38200, 38350, 38500, 38625, 38750, 38900, 39050

Sell BankNifty in 38875-39050 range:

SL 39250 Tgt 38750, 38625, 38500, 38350, 38200, 38050, 37950

Total 2 Stocks in F&O Ban:

Out Of Ban: PNB

Already In Ban: ZEEL, Vodafone Idea

New In Ban: Nil