Anil Singhvi's strategy on Aug 10: Support zone on Nifty is 17400-17475, Bank Nifty is 37975-38050

Amid neutral global markets, positive Foreign Institutional Investors (FIIs), neutral Domestic Institutional Investors (DIIs), neutral Future and Options (F&O) and positive sentiment, the short-term trend of the Indian market will remain positive on Wednesday, August 10, 2022, said Zee Business Managing Editor Anil Singhvi. 

On Monday, the benchmarks closed with nearly a per cent as Nifty50 added 127.6 (0.73%) to end at 17,525.10, while the Sensex gained 465.14 points or 0.80% to settle at 58,853.07. Nifty Midcap ended higher by 0.36%, and Smallcap index gained by 0.34% to end in the green.

Anil Singhvi Strategy on Nifty, Bank Nifty on August 10, 2022  

Nifty support zone 17400-17475, Below that 17225-17350 Strong Buy zone

Nifty higher zone 17550-17600, Above that 17650-17775 Profit booking zone

Bank Nifty support zone 37975-38050, Below that 37625-37750 Strong Buy zone

Bank Nifty higher zone 38400-38600, Above that 38750-38875 Profit booking zone

Nifty support levels 17500, 17475, 17400, 17380, 17350, 17225

Nifty higher levels 17550, 17600, 17650, 17675, 17775, 17800

Bank Nifty support levels 38150, 38050, 37975, 37925, 37750, 37700, 37650

Bank Nifty higher levels 38300, 38350, 38400, 38500, 38600, 38750, 38825

FIIs Index Long unchanged at 55%

PCR higher at 1.30 Vs 1.05

India VIX up by 2% at 19.30

For Existing Long Positions:

Nifty Intraday n Closing SL 17325

BankNifty Intraday n Closing SL 37900

For Existing Short Positions:

Nifty Intraday n Closing SL 17600

BankNifty Intraday n Closing SL 38500

For New Positions:

Buy Nifty in 17350-17425 range:

SL 17325 Tgt 17475, 17500, 17525, 17550, 17600

Aggressive Traders Buy Nifty if opens Gap-down:

Strict SL 17400 Tgt 17500, 17525, 17550, 17600, 17650, 17675, 17775

Sell Nifty in 17600-17675 range:

SL 17775 Tgt 17550, 17525, 17500, 17475, 17400, 17350

For New Positions:

Buy BankNifty in 37700-37925 range:

SL 37600 Tgt 37975, 38050, 38150, 38225, 38300, 38350

Aggressive Traders Buy Bank Nifty if opens Gap-down:

Strict SL 37875 Tgt 38300, 38350, 38400, 38500, 38600, 38750, 38825

Aggressive Traders Sell BankNifty in 38500-38600 range:

Strict SL 38750 Tgt 38400, 38350, 38300, 38225, 38150, 38050, 37925

F&O Ban Update:

Already In Ban: Balrampur Chini, Delta Corp, Escorts

New In Ban: Nil

Out Of Ban: Nil