Amid positive global cues, 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 18, 2022, said Zee Business Managing Editor Anil Singhvi.   

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Earlier on Tuesday, the market ended higher by around 0.70%. Benchmark Nifty50 rose 127.10 (0.72%) to 17,825.25 and the Sensex gained 379.43 points or (0.64%) to 59,842.21.   

Anil Singhvi's strategy on Nifty and Bank Nifty on August 17, 2022 

Nifty support zone is 17700-17775, below that 17600-17650 is a strong buy zone 

Nifty higher zone is 17900-17950, above that 18000-18100 is a profit booking zone 

Bank Nifty support zone is 38925-39050, below that 38750-38875 is a strong buy zone. 
 
Bank Nifty higher zone is 39425-39575, above that 39675-39750 is a Profit booking zone 
 
Nifty support levels: 17800, 17775, 17725, 17700, 17650, 17600, 17525 
 
Nifty higher levels: 17850, 17900, 17950, 18000, 18050, 18100 
 
Bank Nifty support levels: 39125, 39050, 38925, 38875, 38750, 38650 
 
Bank Nifty higher levels: 39325, 39425, 39500, 39575, 39675, 39750 
 
FIIs Index Long at 59% Vs 58%  
PCR at 1.26 Vs 1.24 
India VIX unchanged at 17.69 
 
For Existing Long Positions: 
 
Nifty Intraday stoploss (SL) 17675 and Closing SL 17625 
Bank Nifty Intraday SL 38975 and Closing SL 38850 
 
For Existing Short Positions: 
 
Nifty Intraday and Closing SL 17850 
Bank Nifty Intraday and Closing SL 39500 

For New Positions: 
 
Buy Nifty: 
SL 17675 Tgt 17850, 17900, 17950, 18000, 18050, 18100 
 
Sell Nifty in 17950-18050 range: 
SL 18125 Tgt 17900, 17850, 17825, 17800, 17775, 17725, 17700, 17650 
 
For New Positions: 
 
Buy Bank Nifty: 
SL 38975 Tgt 39325, 39425, 39500, 39575, 39675, 39750 
 
Aggressive Traders Sell BankNifty in 39500-39675 range: 
Strict SL 39750 Tgt 39425, 39325, 39250, 39125, 39050, 38925, 38875 
 
F&O Ban Update: 
Already In Ban: Tata Chemicals, Balrampur Chini, Delta Corp 
New In Ban: Nil 
Out Of Ban: Nil