Anil Singhvi's Strategy on August 18: Support zone on Nifty is 17,775-17,850, Bank Nifty is 39,125-39,250

Anil Singhvi's Strategy on August 18: Amid positive 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 be positive on Thursday, said Zee Business Managing Editor Anil Singhvi. 

Earlier, the benchmark indices Sensex and Nifty50 each ended higher by around 0.7 per cent on Wednesday. The Nifty50 ended at 17,944.25 after gaining 119 points, while the Sensex rose by 418 points to settle at 60260.13. 

Anil Singhvi Singhvi's strategy on Nifty, Bank Nifty on August 18

Nifty support zone 17775-17850, Below that 17700-17750 Strong Buy zone

Nifty higher zone 17975-18050, Above that 18100-18175 Profit booking zone

Bank Nifty support zone 39125-39250, Below that 38875-39050 Strong Buy zone

Bank Nifty higher zone 39575-39750, Above that 39850-39950 Profit booking zone

Nifty support levels 17900, 17850, 17825, 17800, 17775, 17725, 17700

Nifty higher levels 17975, 18000, 18050, 18100, 18125, 18175

Bank Nifty support levels 39325, 39250, 39200, 39125, 39050, 38925, 38875, 38750

Bank Nifty higher levels 39500, 39575, 39675, 39750, 39850, 39950, 40050

FIIs Index Long at 58% Vs 59%

PCR near overbought at 1.40 Vs 1.26, Profit booking expected at higher levels

India VIX unchanged at 17.68

For Existing Long Positions:

Nifty Intraday SL 17800 n Closing SL 17700

BankNifty Intraday n Closing SL 39000

For Existing Short Positions:

Nifty Intraday SL 18050 n Closing SL 18000

BankNifty Intraday SL 39600 n Closing SL 39500

For New Positions:

Buy Nifty in 17775-17850 range:

SL 17700 Tgt 17900, 17950, 17975, 18000, 18050, 18100

Aggressive Traders Sell Nifty:

Strict SL 18050 Tgt 17900, 17850, 17825, 17800, 17775, 17725, 17700

For New Positions:

Buy BankNifty in 39050-39250 range:

SL 38875 Tgt 39325, 39450, 39500, 39575, 39675, 39750

Aggressive Traders Sell BankNifty:

Strict SL 39600 Tgt 39325, 39250, 39200, 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