Anil Singhvi's strategy on July 8: Support zone on Nifty is 16000-16050, Bank Nifty is 34650-34825

Amid positive global markets, neutral Foreign Institutional Investors (FIIs), positive Domestic Institutional Investors (DIIs), neutral Future & Options (F&O) and positive sentiment, the short-term trend of the Indian market will remain neutral on Friday, July 8, 2022, said Zee Business Managing Editor Anil Singhvi.  

Earlier, the broader Nifty50 gained 143.10 (0.89%) to close at 16,132.90, while the 30-share Sensex added around 427.49 points or (0.80%) to settle at 54,178.46 on Thursday. Nifty Midcap and Smallcap ended higher by 1.3% and 1.5% respectively as all Nifty sectoral indices, except for FMCG, closed in the green on Thursday.  

Anil Singhvi's strategy on Nifty, Bank Nifty on Friday, July 8, 2022:  
Nifty support zone is 16000-16050, below that 15850-15925 is a strong buy zone 
 
Nifty higher zone is 16240-16265, above that 16300-16450 is a strong profit booking zone 
 
Bank Nifty support zone is 34650-34825, below that 34375-34550 is a strong buy zone 
 
Bank Nifty higher zone is 35275-35425, above that 35625-35825 is a profit booking zone 
 
Nifty support levels are: 16125, 16050, 16025, 16000, 15925, 15850 
 
Nifty higher levels: 16175, 16200, 16240, 16265, 16300, 16350, 16425 
 
Bank Nifty support levels: 34825, 34750, 34650, 34550, 34475, 34375, 34325, 34150 
 
Bank Nifty higher levels: 35000, 35075, 35175, 35275, 35350, 35425, 35625, 35750 
 
FIIs Index Long at 26% Vs 23% 
PCR unchanged at 1.27 
India VIX down by 5% at 19.20 

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

 
For Existing Short Positions: 
 
Nifty Intraday and Closing SL 16150 
Bank Nifty Intraday and Closing SL 35000 

For New Positions: 
 
Buy Nifty: 
SL 15975 Tgt 16175, 16200, 16240, 16265, 16300, 16350, 16425 
 
Aggressive Traders Sell Nifty in 16265-16350 range: 
Strict SL 16450 Tgt 16240, 16200, 16150, 16125, 16050, 16025, 16000 
 
For New Positions: 
 
Buy BankNifty in 34375-34550 range: 
SL 34275 Tgt 34650, 34750, 34825, 34925, 34975 
 
Aggressive Traders Buy BankNifty: 
Strict SL 34700 Tgt 35000, 35075, 35175, 35275, 35350, 35425, 35625, 35750 
 
Aggressive Traders Sell BankNifty in 35425-35750 range: 
Strict SL 35850 Tgt 35350, 35275, 35175, 35075, 35000, 34925, 34750 
 
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