Anil Singhvi's strategy on Aug 3: Support zone on Nifty is 17150-17225, Bank Nifty is 37625-37750

Amid neutral global markets, Foreign Institutional Investors (FIIs), Domestic Institutional Investors (FIIs), Future and Options (F&O) and neutral sentiment, the short-term trend of the Indian market will remain neutral on Wednesday, August 3, 2022, said Zee Business Managing Editor Anil Singhvi.  

Earlier on Tuesday, the Indian market fought back in the closing hours to end flat with positive bias after trading lower by more than half per cent in most parts of the session. The broader Nifty50 gained marginally 5.40 points (0.03%) to 17,345.45, while the Sensex rose 20.86 points or 0.04% to 58,136.36, managing to extend gains to the fifth consecutive session on Tuesday. 

Anil Singhvi's strategy on Nifty, Bank Nifty on August 3, 2022 

Nifty support zone is 17150-17225, below that 17000-17025 is a strong buy zone 
 
Nifty higher zone is 17400-17450, above that 17475-17525 is a profit booking zone 
 
Bank Nifty support zone is 37625-37750, below that 37425-37500 is a strong Buy zone 
 
Bank Nifty higher zone is 38350-38500, above that 38600-38750 is a profit booking zone 
 
Nifty support levels 17300, 17250, 17225, 17175, 17150, 17100, 17025 
 
Nifty higher levels 17375, 17400, 17450, 17475, 17525, 17600 
 
Bank Nifty support levels 37925, 37750, 37625, 37500, 37425, 37375, 37225 
 
Bank Nifty higher levels 38175, 38350, 38400, 38500, 38600, 38750, 38825, 38875 
 
FIIs Index Long at 57% Vs 67%  
PCR at 1.38 Vs 1.49 
India VIX up 6% by at 18.53 
 
For Existing Long Positions: 
 
Nifty Intraday and Closing SL 17150 
BankNifty Intraday SL 37600 n Closing SL 37475 

For Existing Short Positions: 
 
Nifty Intraday and Closing SL 17400 
BankNifty Intraday and Closing SL 38200 

 
For New Positions: 
 
Buy Nifty in 17150-17225 range: 
SL 17000 Tgt 17250, 17300, 17340, 17390, 17450, 17475, 17525 
 
Sell Nifty in 17450-17525 range: 
SL 17600 Tgt 17400, 17350, 17300, 17250, 17225, 17175, 17150 
 
For New Positions: 
 
Buy BankNifty in 37500-37650 range: 
SL 37350 Tgt 37750, 37900, 37950, 38050, 38175, 38350, 38400 
 
Sell BankNifty in 38400-38600 range: 
SL 38750 Tgt 38350, 38200, 38050, 37925, 37750, 37625, 37500 
 
F&O Ban Update: 
New In Ban: Escorts 
Already In Ban: Nil 
Out Of Ban: Nil