Nifty, Bank Nifty strategy today, October 17 by Anil Singhvi: Check buy, stop loss and support levels

Anil Singhvi strategy today, October 17: Amid negative global cues and neutral FIIs and positive DIIs activities, the short term trend for the Indian stock market is positive, according to Zee Business Managing Editor Anil Singhvi. At 8:00 am, SGX Nifty was trading at 17,083 down by 130 points or 0.76 per cent. Dow Futures and Nasdaq Futures were quoting positive, up by nearly 0.45 per cent to 29842 and 0.38 per cent to 10785.25, respectively. Key stock indices gained on Friday to finish with a gain of over a per cent. Sensex jumped 684.64 points to close at 57,919.97. Meanwhile, Nifty collected 171.35 points to close the week at 17,185. The gain was boosted by heavy buying in Infosys, banking and finance stocks amid a rally in global stock markets. The 30-share BSE Sensex gave up some gains to close 684.64 points or 1.20 per cent higher at 57,919.97. Earlier on Friday, US stocks dropped as worsening inflation expectations kept intact worries that the Federal Reserve's aggressive rate hike path could trigger a recession, while investors digested the early stages of earnings season. The Dow Jones Industrial Average fell 403.89 points or 1.34 per cent to 29,634.83, the S&P 500 lost 86.84 points or 2.37 per cent to 3,583.07 and the Nasdaq Composite dropped 327.76 points, or 3.08 per cent, to 10,321.39. 

Given below is Anil Singhvi's strategy for Friday, October 17:  

Global: Negative
FII:  Neutral
DII: Positive
F&O: Neutral
Sentiment: Neutral
Trend: Positive  

Nifty support zone 17075-17125, Below that 16950-17025 Strong Buy zone
Nifty higher zone 17225-17275, Above that 17325-17425 Profit booking zone

Bank Nifty support zone 38725-38950, Below that 38450-38625 Strong Buy zone
Bank Nifty higher zone 39500-39600, Above that 39700-39900 Profit booking zone

Nifty support levels 17125, 17075, 17025, 17000, 16950, 16850
Nifty higher levels 17225, 17250, 17275, 17325, 13350, 17425

Bank Nifty support levels 39175, 39100, 38950, 38800, 38725, 38625, 38550, 38450
Bank Nifty higher levels 39300, 39500, 39550, 39600, 39700, 39800, 39900

FIIs Index Long changed at 23% Vs 19%
PCR at 0.91 Vs 1.06
BankNifty PCR at 0.81 Vs 0.74
India VIX Down by 10% at 18.26

For Existing Long Positions:

Nifty Intraday n Closing SL 16950
BankNifty Intraday SL 38900 n Closing SL 38600

For Existing Short Positions:

Nifty Intraday n Closing SL 17350
BankNifty Intraday SL 39650 n Closing SL 39350

For New Positions:

Aggressive Traders Buy Nifty 16950-17025 range:
Strict SL 16850 Tgt 17075, 17125, 17175, 17275, 17250, 17275, 17325, 17350

Sell Nifty 17225-17325 range:
SL 17425 Tgt 17175, 17125, 17075, 17025, 17000, 16950, 16850

For New Positions :

Buy BankNifty 38450-38625 range:
SL 38400 Tgt 38700, 38800, 38950, 39100, 39175, 39300

Aggressive Traders Buy Bank Nifty 38725-38950 range:
SL 38600 Tgt 39100, 39175, 39300, 39500, 39550, 39600

Sell BankNifty in 39500-39600 range:
SL 39700 Tgt  39300, 39200, 39100, 38950, 38800, 38725, 38650, 38550

F&O Ban Update:

Already In Ban: Delta Corp, Indiabulls housing finance
New In Ban: INDIA CEMENT
Out Of Ban: Nil