Anil Singhvi's strategy on July 12: Support zone on Nifty is 16000-16050, Bank Nifty is 35125-35275

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 Tuesday, July 12, 2022, said Zee Business Managing Editor Anil Singhvi. 

Earlier, the Indian markets closed flat with a negative bias on Monday, July 11, 2022. The benchmark indices Nifty50 and Sensex closed at 16,216 and 54,395.23 respectively.  In the broader market, Nifty midcap and small ended nearly 1 per cent gains each on Monday.

Anil Singhvi Strategy on Nifty, Bank Nifty on July 12, 2022  

Nifty support zone 16000-16050, Below that 15800-15850 strong Buy zone

Nifty higher zone 16200-16250, Above that 16275-16350 strong Profit booking zone

Bank Nifty support zone 35125-35275, Below that 34925-35025 strong Buy zone

Bank Nifty higher zone 35550-35625, Above that 35750-35950 Profit booking zone

Nifty support levels 16160, 16135, 16115, 16050, 16000, 15925, 15850, 15800

Nifty higher levels 16220, 16240, 16265, 16300, 16350, 16425

Bank Nifty support levels 35275, 35175, 35125, 35025, 34925, 34825, 34750, 34550

Bank Nifty higher levels 35425, 35475, 35550, 35625, 35750, 35825, 35950

FIIs Index Long at 26% Vs 27%

PCR at 1.21 Vs 1.20

India VIX unchanged at 18.37

For Existing Long Positions:

Nifty Intraday n Closing SL 15975

BankNifty Intraday n Closing SL 34900

For Existing Short Positions:

Nifty Intraday n Closing SL 16300

BankNifty Intraday n Closing SL 35600

For New Positions:

Buy Nifty in 16000-16050 range:

SL 15950 Tgt 16100, 16125, 16150, 16200, 16225, 16250, 16275, 16300

Sell Nifty if doesn’t open Gap-down:

Strict SL 16300 Tgt 16160, 16135, 16115, 16050, 16010, 15925, 15850

For New Positions:

Buy BankNifty in 34925-35025 range:

SL 34875 Tgt 35125, 35175, 35250, 35350, 35425, 35475, 35550

Aggressive Traders Buy BankNifty in 35125-35275 range:

Strict SL 35000 Tgt 35350, 35425, 35475, 35550, 35625, 35750, 35825, 35950

Aggressive Traders Sell BankNifty if doesn’t open Gap-down:

Strict SL 35600 Tgt 35350, 35275, 35125, 35025, 34975, 34925, 34825, 34750

No Stock in F&O Ban