Anil Singhvis strategy on Sept 7: Support zone on Nifty is 17400-17475, Bank Nifty is 39250-39425

Amid negative global markets, neutral 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 Wednesday, September, 2022, said Zee Business Managing Editor Anil Singhvi.    

Anil Singhvi's strategy on Nifty, Bank Nifty on September 7, 2022

Nifty support zone is 17400-17475, below that 17225-17340 is a strong buy zone 
 
Nifty higher zone is 17575-17650, above that 17690-17765 is a strong sell zone 
 
Bank Nifty support zone is 39250-39425, below that 39050-39200 is a strong buy zone 
 
Bank Nifty higher zone is 39800-39850, above that 39950-40050 is a profit booking zone 
 
Nifty support levels 17540, 17500, 17475, 17400, 17350, 17325, 17225 
 
Nifty higher levels 17575, 17600, 17650, 17690, 17750, 17775  

Bank Nifty support levels 39550, 39425, 39325, 39250, 39200, 39050, 38925, 38850, 38800 

Bank Nifty higher levels 39750, 39800, 39850, 39950, 40050, 40325 
 
FIIs Index Long at 19% Vs 23%  
PCR at 1.05 Vs 1.21 
Bank Nifty PCR at 0.93 Vs 1.17 
India VIX down by 1% at 19.53 

For Existing Long Positions: 
 
Nifty Intraday and Closing stoploss (SL) 17475 
Bank Nifty Intraday SL 39200 and Closing SL 39300 
 
For Existing Short Positions: 
 
Nifty Intraday and Closing SL 17800 
Bank Nifty Intraday SL 40100 n Closing SL 39800 

For New Positions: 
 
Sell Nifty: 

SL 39875 Tgt 39425, 39325, 39250, 39200, 39050, 38925, 38850, 38800 
Buy Nifty in 17325-17400 range: 
SL 17200 Tgt 17450, 17475, 17500, 17540, 17575, 17600, 17650 
 
For New Positions: 
 
Sell BankNifty: 
SL 39875 Tgt 39425, 39325, 39250, 39200, 38925, 38850, 38800 

Buy BankNifty in 38925-39050 range: 
SL 38750 Tgt 39200, 39250, 39300, 39400, 39550, 39600, 39650 
 
Aggressive Traders Buy BankNifty in 39200-39325 range: 
Strict SL 39000 Tgt 39425, 39550, 39600, 39650, 39800, 39850, 39950, 40050 
 
F&O Ban Update: 
Already In Ban: Delta Corp 
New In Ban: Nil 
Out Of Ban: Nil