Anil Singhvi's strategy on August 5: Support zone on Nifty is 17300-17350, Bank Nifty is 37425-37500

Amid positive global markets, positive Foreign Institutional Investors (FIIs), neutral Domestic Institutional Investors (FIIs), Future and Options (F&O) and sentiment, the short-term trend of the Indian market will remain neutral on Friday, August 5, 2022, said Zee Business Managing Editor Anil Singhvi.

Earlier on Thursday, the Indian markets snapped its winning streak to end flat with a negative bias amid a volatile session. The Nifty50 dipped by 0.4 points or 0.04 per cent to 17,382, while the Sensex fell by 51.73 points or 0.09% to 58,298.8 levels on Thursday.

Anil Singhvi's strategy on Nifty, Bank Nifty on August 4, 2022

Nifty support zone 17300-17350, Below that 17150-17225 Strong Buy zone

Nifty higher zone 17475-17525, Above that 17600-17675 Profit booking zone

Bank Nifty support zone 37425-37500, Below that 37250-37375 Strong Buy zone

Bank Nifty higher zone 37900-38050, Above that 38200-38350 Profit booking zone

Nifty support levels 17350, 17300, 17225, 17175, 17150, 17100

Nifty higher levels 17450, 17475, 17500, 17525, 17600, 17650

Bank Nifty support levels 37700, 37625, 37500, 37425, 37375, 37225, 37050

Bank Nifty higher levels 37900, 37975, 38050, 38175, 38225, 38350, 38400

FIIs Index Long at 52% Vs 55%

PCR at 1.23 Vs 1.28

India VIX up by 4% at 19.26

For Existing Long Positions:

Nifty Intraday SL 17150 n Closing SL 17300

BankNifty Intraday SL 37200 n Closing SL 37475

For Existing Short Positions:

Nifty Intraday SL 17525 n Closing SL 17400

BankNifty Intraday n Closing SL 38250

For New Positions:

Buy Nifty:

SL 17300 Tgt 17450, 17475, 17500, 17525, 17600, 17650

Sell Nifty in 17525-17600 range:

SL 17700 Tgt 17500, 17475, 17450, 17400, 17350, 17300, 17225, 17175

For New Positions:

Buy BankNifty in 37250-37375 range:

SL 37150 Tgt 37500, 37625, 37700, 37750, 37900, 37975

Aggressive Traders Buy BankNifty:

Strict SL 37475 Tgt 37900, 37975, 38050, 38175, 38225, 38350

Sell BankNifty in 38175-38350 range:

SL 38500 Tgt 38050, 38000, 37925, 37750, 37700, 37650, 37500

F&O Ban Update:

Already In Ban: Escorts

New In Ban: Nil

Out Of Ban: Nil