Anil Singhvi's strategy on July 22: Support zone on Nifty is 16475-16525, Bank Nifty is 35875-35975

Amid positive global markets, positive Foreign Institutional Investors (FIIs), neutral Foreign Institutional Investors (DIIs), neutral Future and Options (F&O) and positive sentiment, the short-term trend of the Indian market will be neutral on Friday, July 22, 2022, said Zee Business Managing Editor Anil Singhvi.  

Earlier, the Indian market extended its winning streak to the fifth day as the broader Nifty50 ended at 16,610, while the Sensex gained nearly 300 points to settle at 55,681.95. Nifty Midcap and Small Cap gained 1.38% and 0.77% respectively in the broader market. Except for Pharma and Healthcare, which witnessed some profit booking and slipped in the red, all other Nifty sectoral indices ended in the green on Thursday. 

Anil Singhvi's strategy on Nifty, Bank Nifty on July 22  

Nifty support zone is 16475-16525, below that 16275-16350 is a strong buy zone 

Nifty higher zone is 16650-16700, above that 16750-16800 is a profit booking zone 
 

Bank Nifty support zone is 35875-35975, below that 35550-35750 is a strong buy zone 

Bank Nifty higher zone is 36350-36500, above that 36600-36725 is a profit booking zone 

Nifty support levels 16575, 16525, 16475, 16450, 16425, 16350 

Nifty higher levels 16625, 16650, 16700, 16750, 16790, 16825, 16875 

Bank Nifty support levels 36100, 35975, 35875, 35825, 35750, 35625, 35550 

Bank Nifty higher levels 36275, 36350, 36400, 36500, 36600, 36725, 36850 

FIIs Index Long at 40% Vs 28% 

PCR near overbought level at 1.41 Vs 1.4, Profit booking accepted at higher level 

India VIX up 0.25% by at 16.86  
 

For Existing Long Positions: 

Nifty Intraday and Closing stoploss (SL) 16450 

Bank Nifty Intraday SL 35850 and Closing SL 35700 

For Existing Short Positions: 

Nifty Intraday SL 16800 and Closing SL 16675 

Bank Nifty Intraday and Closing SL 36350 
 

For New Positions: 
Buy Nifty 

SL 16450 Tgt 16625, 16650, 16700, 16750, 16790, 16825, 16875 

Sell Nifty in 16675-16800 range: 

SL 16875 Tgt  16625, 16600, 16575, 16525, 16475, 16450, 16425 

For New Positions: 

Buy Bank Nifty in 35725-35875 range: 

SL 35675 Tgt 35975, 36075, 36175, 36275, 36325 

Aggressive Traders Buy BankNifty 

Strict SL 35950 Tgt 36275, 36350, 36400, 36500, 36600, 36725, 36850 

Aggressive Traders Sell BankNifty 36500-36725 range: 
Strict SL 36850 Tgt  36400, 36350, 36275, 36200, 36100, 36000, 35875 

F&O BAN 
NEW IN BAN 

RBL BANK   
ALREADY IN BAN 

DELTA CORP 

OUT OF BAN 

NIL