Anil Singhvi's strategy on Aug 12: Support zone on Nifty is 17525-17575, Bank Nifty is 38500-38650

Amid neutral global markets, positive Foreign Institutional Investors (FIIs), negative 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 Friday, August 12, 2022, said Zee Business Managing Editor Anil Singhvi.

On Thursday, the benchmarks closed on a positive note with Sensex closing in the green over 500 points at the close and Nifty50 settled above 17650-level, supported by IT, Banking, and Financial Services stocks.  

Anil Singhvi Strategy on Nifty, Bank Nifty on August 12, 2022

Nifty support zone 17525-17575, Below that 17450-17500 Strong Buy zone

Nifty higher zone 17725-17775, Above that 17800-17850 Profit booking zone

Bank Nifty support zone 38500-38650, Below that 38225-38300 Strong Buy zone

Bank Nifty higher zone 39025-39225, Above that 39300-39450 Profit booking zone

Nifty support levels 17625, 17600, 17550, 17525, 17500, 17475, 17450

Nifty higher levels 17675, 17725, 17775, 17800, 17850, 17900

Bank Nifty support levels 38825, 38750, 38650, 38500, 38400, 38300, 38225

Bank Nifty higher levels 38925, 39025, 39225, 39300, 39450

FIIs Index Long at 55% Vs 52%

PCR at 1.38 Vs 1.23, Profit booking expected at higher levels

India VIX down by 6% at 18.36

For Existing Long Positions:

Nifty Intraday SL 17450 n Closing SL 17500

BankNifty Intraday SL 38600 n Closing SL 38200

For Existing Short Positions:

Nifty Intraday n Closing SL 17725

BankNifty Intraday n Closing SL 39050

For New Positions:

Buy Nifty in 17500-17550 range:

SL 17425 Tgt 17600, 17625, 17650, 17675, 17725

Aggressive Traders Buy Nifty if opens Gap-down:

Strict SL 17475 Tgt 17625, 17650, 17675, 17725, 17775, 17800, 17850

Aggressive Traders Sell Nifty in 17725-17850 range:

Strict SL 17900 Tgt 17675, 17650, 17625, 17600, 17550, 17525, 17500

For New Positions:

Buy BankNifty in 38250-38500 range:

SL 38150 Tgt 38650, 38750, 38825, 38875, 38925

Aggressive Traders Buy BankNifty if opens Gap-down:

Strict SL 38500 Tgt 38825, 38875, 38925, 39025, 39225, 39300, 39450

Aggressive Traders Sell BankNifty in 39025-39300 range:

Strict SL 39500 Tgt 38925, 38875, 38825, 38750, 38650, 38500

F&O Ban Update:

Already In Ban: Balrampur Chini, Delta Corp

New In Ban: Nil

Out Of Ban: Nil