Anil Singhvi's strategy on July 11: Support zone on Nifty is 16000-16050, Bank Nifty is 34925-35025

Amid negative global markets, neutral Foreign Institutional Investors (FIIs), neutral Domestic Institutional Investors (DIIs), neutral Futures and Options (F&O) and positive sentiment, the short-term trends of the Indian market will remain neutral on Monday, July 11, 2022, said Zee Business Managing Editor Anil Singhvi.  

Earlier, The Indian market closed the last week ended on July 8 with three per cent gain as benchmarks rose by 3% each. The broader Mifty50 and Sensex had extended the rally for the third day in a row as they closed at 16,220 and 54,481.84 respectively.  In the broader market, Nifty midcap and small ended with minor gains as the former gained around 0.28%, while the latter jumped 0.31% in the closing trade on Friday.

Anil Singhvi Strategy on Nifty, Bank Nifty on July 11, 2022   

Nifty support zone is 16000-16050, below that 15800-15850 is a strong buy zone 

Nifty higher zone is 16265-16300, above that 16350-16425 is a strong profit booking zone 
 
Bank Nifty support zone is 34925-35025, below that 34400-34550 is a strong buy zone 
 
Bank Nifty higher zone is 35275-35425, above that 35625-35825 is a profit booking zone 
 
Nifty support levels 16160, 16135, 16050, 16000, 15925, 15850 
 
Nifty higher levels 16220, 16240, 16265, 16300, 16350, 16425 
 
Bank Nifty support levels 35025, 34975, 34925, 34825, 34750, 34650, 34550, 34400 
 
Bank Nifty higher levels 35275, 35350, 35425, 35625, 35750, 35825 
 
FIIs Index Long at 27% Vs 26% 
PCR at 1.20 Vs 1.27 
India VIX down by 4% at 18.40 

 
For Existing Long Positions: 
 
Nifty Intraday and Closing stoploss (SL) 15975 
Bank Nifty Intraday SL 34900 n Closing SL 34300 

 
For Existing Short Positions: 
 
Nifty Intraday and Closing SL 16300 
Bank Nifty Intraday and Closing SL 35300 

For New Positions: 
 
Buy Nifty in 16000-16050 range: 
SL 15950 Tgt 16125, 16150, 16200, 16220, 16275, 16300 
 
Sell Nifty if doesn’t open Gap-down: 
Strict SL 16300 Tgt 16160, 16135, 16075, 16050, 16010, 15925, 15850, 15800 
 
For New Positions: 
 
Buy BankNifty in 34375-34550 range: 
SL 34275 Tgt 34650, 34750, 34825, 34925, 34975 
 
Aggressive Traders Buy BankNifty in 34925-35025 range: 
Strict SL 34875 Tgt 35125, 35175, 35275, 35350, 35425, 35625, 35750, 35825 
 
Aggressive Traders Sell BankNifty: 
Strict SL 35300 Tgt 35025, 34975, 34925, 34825, 34750, 34650, 34550, 34400 
 
No Stock in F&O Ban