Anil Singhvi's strategy on 29 Sept: Support zone on Nifty is 16950-16975 and Bank Nifty is 37625-37750

Anil Singhvi's strategy on 29 Sept: Amid positive global markets, negative foreign institutional investors (FIIs), positive domestic institutional investors (DIIs), positive future and options, and neutral sentiment, the short-term trend of the Indian market will remain positive on Thursday, September 29, 2022, said Zee Business Managing Editor Anil Singhvi.

Anil Singhvi's strategy on Nifty, Bank Nifty on September 29, 2022

Nifty support zone 16950-16975, Below that 16825-16850 Strong Buy zone

Nifty higher zone 17000-17025, Above that 17175-17200 Strong Sell zone

Bank Nifty support zone 37625-37750, Below that 37375-37500 Strong Buy zone

Bank Nifty higher zone 38175-38350, Above that 38475-38600 Profit booking zone

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

Nifty higher levels 17000, 17025, 17100, 17175, 17200, 17275

Bank Nifty support levels 37950, 37750, 37625, 37500, 37375, 37250

Bank Nifty higher levels 38050, 38175, 38350, 38475, 38600, 38750, 38900

FIIs Index Long at 28% Vs 21%

PCR at 0.73 Vs 0.70

BankNifty PCR at oversold levels unchanged at 0.54, short covering expected

India VIX up by 2.5% at 22.10

For Existing Long Positions:

Nifty Intraday n Closing SL 16800

BankNifty Intraday n Closing SL 37500

For Existing Short Positions:

Nifty Intraday SL 17200 n Closing SL 17025

BankNifty Intraday SL 38000 n Closing SL 38350

For New Positions:

Buy Nifty:

SL 16800 Tgt 16975, 17000, 17025, 17100, 17175, 17200

Sell Nifty in 17150-17225 range:

SL 17250 Tgt 17100, 17025, 17000, 16975, 16950, 16850, 16825

For New Positions:

Buy BankNifty:

SL 37500 Tgt 37950, 38050, 38175, 38350, 38475, 38600, 38750, 38900

Aggressive Traders Sell BankNifty in 38475-38600 range:

Strict SL 38700 Tgt 38375, 38200, 38050, 37950, 37750, 37625

F&O Ban Update:

Out Of Ban: ZEEL

Already In Ban: Vodafone Idea

New In Ban: Nil