Anil Singhvi Strategy on Aug 24: Support zone on Nifty is 17450-17525, Bank Nifty is 38175-38300
Amid negative global markets, positive foreign institutional investors (FIIs), neutral 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
![Anil Singhvi Strategy on Aug 24: Support zone on Nifty is 17450-17525, Bank Nifty is 38175-38300 Anil Singhvi Strategy on Aug 24: Support zone on Nifty is 17450-17525, Bank Nifty is 38175-38300](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_850x478/public/2022/08/24/196504-asmad.jpg?itok=HqDVBXSq&c=2b6ddc76a6968f8833f3ed55da73dea4)
Amid negative global markets, positive foreign institutional investors (FIIs), neutral 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, August 24, said Zee Business Managing Editor Anil Singhvi.
Anil Singhvi's strategy on Nifty, Bank Nifty on August 24, 2022
Nifty support zone is 17450-17525, below that 17340-17400 is a strong buy zone
Nifty higher zone is 17625-17700, above that 17725-17825 is a strong sell zone
Bank Nifty support zone is 38175-38300, below that 37925-38050 is a strong buy zone
Bank Nifty higher zone is 38850-39025, above that 39200-39250 is a strong sell zone
Nifty support levels are: 17525, 17500 17475, 17450, 17400, 17360, 17340
Nifty higher levels re: 17600, 17625, 17650, 17700, 17725, 17775, 17800, 17825
Bank Nifty support levels are: 38650, 38500, 38400, 38300, 38225, 38175, 38050, 37925
Bank Nifty higher levels are: 38750, 38850, 38925, 39025, 39125, 39200, 39250, 39450
FIIs Index Long at 49% Vs 50%
PCR at 0.98 Vs 0.79
India VIX unchanged at 19.04
For Existing Long Positions:
Nifty Intraday stoploss (SL) 17475 and Closing SL 17325
Bank Nifty Intraday SL 38500 and Closing SL 38200
For Existing Short Positions:
Nifty Intraday n Closing SL 17700
Bank Nifty Intraday n Closing SL 39000
For New Positions:
Sell Nifty:
SL 17700 Tgt 17525, 17500 17475, 17450, 17400, 17360, 17340
Buy Nifty in 17340-17450 range:
SL 17300 Tgt 17490, 17525, 17575, 17600, 17625, 17650, 17700
For New Positions:
Sell Bank Nifty:
SL 39000 Tgt 38600, 38500, 38400, 38300, 38225, 38175, 38050, 37950
Buy Bank Nifty in 37925-38050 range:
SL 37850 Tgt 38175, 38225, 38300, 38400, 38500, 38600, 38650, 38750
Aggressive Traders Buy BankNifty in 38175-38300 range:
Strict SL 37950 Tgt 38400, 38500, 38650, 38700, 38750, 38850, 38925
F&O Ban Update:
Out Of Ban: Tata Chemicals
Already In Ban: NiL
New In Ban: Nil
Dreamfolks Services IPO Preview:
Apply for short term
Positives:
Unique & Monopoly Business model
Experience professional promotors
Asset light, net debt free company
Strong growth prospects
Negatives:
Big stake sell by promotors
Valuations very expensive
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