Anil Singhvis strategy on Sept 2: Support zone on Nifty is 17400-17475, Bank Nifty is 17300-17350

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

Anil Singhvi's strategy on Nifty, Bank Nifty on September 2, 2022 

Nifty support zone is 17400-17475, below that 17300-17350 is a strong buy zone 
 
Nifty higher zone is 17625-17700, above that 17750-17850 is a strong sell zone 
 
Bank Nifty support zone is 38800-39000, below that 38550-38750 is a strong buy zone 
 
Bank Nifty higher zone is 39550-39750, above that 39850-40050 is a profit booking zone 
 
Nifty support levels: 17525, 17500, 17475, 17450, 17400, 17360, 17340, 17300 
 
Nifty higher levels: 17575, 17625, 17675, 17700, 17750, 17775, 17800, 17850 
 
Bank Nifty support levels: 39250, 39200, 39050, 38925, 38850, 38800, 38750, 38700 
 
Bank Nifty higher levels: 39450, 39550, 39600, 39650, 39700, 39750, 39850, 39950 
 
Big reduction in FIIs Index Long at 27% Vs 43%  
PCR at 1.16 Vs 1.37 
BankNifty PCR reduced significantly to 0.93 Vs 1.43 
India VIX up by 6% at 19.87 

For Existing Long Positions: 
 
Nifty Intraday stoploss (SL) 17400 and Closing SL 17300 
Bank Nifty Intraday and Closing SL 38800 
 
For Existing Short Positions: 
 
Nifty Intraday and Closing SL 17800 
Bank Nifty Intraday and Closing SL 39750 

For New Positions: 
 
Buy Nifty in 17400-17475 range: 
SL 17325 Tgt 17500, 17525, 17550, 17575, 17600, 17625, 17650, 17700 
 
Aggressive Traders Buy Nifty: 
Strict SL 17450 Tgt 17575, 17625, 17675, 17700, 17750, 17775, 17800, 17850 
 
Sell Nifty in 17675-17775 range: 
SL 17850 Tgt 17625, 17600, 17575, 17550, 17525, 17500, 17475, 17400 

For New Positions: 
 
Buy BankNifty in 38800-39000 range: 
SL 38650 Tgt 39125, 39200, 39250, 39325, 39450, 39550, 39600, 39650 

Aggressive Traders Buy BankNifty: 
Strict SL 39000 Tgt 39450, 39550, 39600, 39650, 39700, 39750, 39850, 39950 
 
Aggressive Traders Sell BankNifty in 39550-39750 range: 
Strict SL 39850 Tgt 39325, 39250, 39200, 39050, 38925, 38850, 38800, 38750 
 
No Stocks in F&O Ban