Anil Singhvi's strategy on July 28: Support zone on Nifty is 16575-16625, Bank Nifty is 36400-36475

Amid positive global markets, positive Domestic Institutional Investors (DIIs), positive Foreign Institutional Investors (FIIs), neutral Future and Options (F&O) and positive sentiment, the short-term trend of the Indian market will remain neutral on Thursday, July 28, 2022, said Zee Business Managing Editor Anil Singhvi. 

Earlier, benchmarks Nifty50 and Sensex ended higher by around 1 per cent each on Wednesday. The Nifty50 gained by 157 points to end at 16,641.8, while the Sensex surged by almost 550 points to settle at 55,816 level on Wednesday.

 Anil Singhvi's Strategy on Nifty, Bank Nifty on July 28, 2022

Nifty support zone 16575-16625, Below that 16450-16525 strong Buy zone

Nifty higher zone 16725-16800, Above that 16875-16950 Profit booking zone

Bank Nifty support zone 36400-36475, Below that 36250-36350 strong Buy zone

Bank Nifty higher zone 36975-37150, Above that 37325-37500 Profit booking zone

Nifty support levels 16625, 16600, 16575, 16525, 16475, 16450

Nifty higher levels 16700, 16725, 16750, 16800, 16825, 16875, 16950

Bank Nifty support levels 36725, 36600, 36475, 36400, 36350, 36250

Bank Nifty higher levels 36925, 36975, 37050, 37150, 37225, 37325, 37500

FIIs Index Long at 45% Vs 36%

PCR at 1.24 Vs 0.99

India VIX down 0.25% by at 18.13

For Existing Long Positions:

Nifty Intraday SL 16425 n Closing SL 16475

BankNifty Intraday SL 36250 n Closing SL 36400

For Existing Short Positions:

Nifty Intraday n Closing SL 16800

BankNifty Intraday n Closing SL 37050

For New Positions:

Buy Nifty

SL 16575 Tgt 16700, 16725, 16750, 16800, 16825, 16875, 16950

Aggressive Traders Sell Nifty in 16800-16950 range:

Strict SL 17025 Tgt 16750, 16725, 16700, 16650, 16625, 16575, 16525

For New Positions:

Buy BankNifty

SL 36400 Tgt  36925, 36975, 37050, 37150, 37225, 37325, 37500

Sell BankNifty 37325-37500 range:

SL 37600 Tgt  37225, 37150, 37050, 37000, 36925, 36825, 36750

F&O BAN

NEW IN BAN

NIL

ALREADY IN BAN

IB HOUSING, DELTA CORP

OUT OF BAN

NIL