Anil Singhvi's Strategy on August 1: Support zone of Nifty is 17000-17025 and Bank Nifty is 37025-37225

Amid positive global cues, positive Foreign Institutional Investors (FIIs), neutral Foreign Institutional Investors (FIIs), neutral Future and Options and positive sentiment, the short-term trend of the Indian market will remain neutral on Monday, August 1, 2022, said Zee Business Managing Editor Anil Singhvi.  

Earlier, the broader Nifty50 jumped 228.65 (1.35%) to close at 17,158.25 and the Sensex gained 712.46 points (1.25%) to settle at 57,570.25 amid improved global sentiment. The market ended more than two and half per cent for the week ended on July 29, while the benchmarks rose almost 9% in July.  

Anil Singhvi Strategy on Nifty, Bank Nity on August 1, 2022. 

Nifty support zone is 17000-17025, below that 16925-16950 is a strong buy zone 

Nifty higher zone is 17200-17250, above that 17300-17350 is a profit booking zone  

Bank Nifty support zone is 37025-37225, below that 36725-36825 is a strong buy zone 

Bank Nifty higher zone is 37600-37750, above that 37950-38025 is a profit booking zone  

Nifty support levels 17100, 17050, 17025, 16950, 16925 

Nifty higher levels 17175, 17200, 17250, 17300, 17350, 17425  

Bank Nifty support levels 37375, 37325, 37225, 37150, 37025, 36925, 36825, 36725 

Bank Nifty higher levels 37600, 37750, 37950, 38025, 38200, 38350 

FIIs Index Long on higher side at 61% Vs 57%  

PCR at 1.36 Vs 1.43 

India VIX down 3% by at 16.55 

For Existing Long Positions: 

Nifty Intraday SL 17000 n Closing SL 16925 

Bank Nifty Intraday SL 37200 n Closing SL 37000 

For Existing Short Positions: 

Nifty Intraday and Closing SL 17200 

Bank Nifty Intraday SL 37750 and Closing SL 37500 

For New Positions: 

Buy Nifty 

SL 17000 Tgt 17175, 17200, 17250, 17300, 17350 

Aggressive Traders Sell Nifty in 17275-17350 range: 

Strict SL 17450 Tgt 17250, 17200, 17175, 17150, 17100, 17025 

For New Positions: 

Buy Bank Nifty 

SL 37000 Tgt 37600, 37750, 37950, 38025, 38200, 38350 

Aggressive Traders Sell BankNifty in 37950-38200 range: 

Strict SL 38350 Tgt 37750, 37600, 37500, 37425, 37375, 37325, 37225 
 
No Stocks in F&O Ban