Anil Singhvi's strategy on August 2: Support zone on Nifty is 17150-17200, Bank Nifty is 37425-37500

Amid neutral global markets, positive Foreign Institutional Investors (FIIs), negative Domestic Institutional Investors (DIIs), negative Future & Options (F&O) and positive sentiment, the short-term trend of the Indian market will remain neutral on Tuesday, August 2, 2022, said Zee Business Managing Editor Anil Singhvi.  

Earlier on Monday, the benchmarks gained almost one per cent as they extended the rally to end in the green for the fourth consecutive session. The barometer Nifty50 gained 181.80 (1.06%) to 17,340.05, while the Sensex added 545.25 points (0.95%) to settle at 58,115.50.  

Anil Singhvi's Strategy on Nifty, Bank Nifty on August 2, 2022.    
Nifty support zone is 17150-17200, below that 17000-17025 is a strong buy zone  
Nifty higher zone is 17400-17450, above that 17475-17525 is a profit booking zone  
Bank Nifty support zone is 37425-37500, below that 37225-37375 is a strong buy zone  
Bank Nifty higher zone is 38050-38200, above that 38350-38500 is a profit booking zone  
Nifty support levels 17300, 17250, 17200, 17175, 17150, 17100, 17025  
Nifty higher levels 17350, 17400, 17450, 17475, 17525  
Bank Nifty support levels 37750, 37600, 37500, 37425, 37375, 37325, 37225  
Bank Nifty higher levels 37900, 38050, 38200, 38350, 38400, 38500 
 
FIIs Index Long on higher side at 67% Vs 61%  
PCR near overbought level at 1.49 Vs 1.36 
India VIX up 6% by at 17.49 
 
For Existing Long Positions: 
 
Nifty Intraday n Closing SL 17150 
Bank Nifty Intraday SL 37700 n Closing SL 37350 
 
For Existing Short Positions: 
 
Nifty Intraday n Closing SL 17400 
Bank Nifty Intraday n Closing SL 38050 

 
For New Positions: 
 
Sell Nifty: 
SL 17400 Tgt 17300, 17250, 17200, 17175, 17150, 17100, 17025 
 
Buy Nifty in 17150-17200 range: 
SL 17000 Tgt 17250, 17300, 17350, 17375, 17400, 17450, 17475 
 
For New Positions: 
 
Sell BankNifty: 
SL 38050 Tgt 37750, 37600, 37500, 37425, 37375, 37325, 37225, 37025 

 
Buy Bank Nifty in 37425-37500 range: 
SL 37200 Tgt 37600, 37750, 37900, 37950, 38050, 38200 
 
No Stocks in F&O Ban