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.   

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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 

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Negatives: 
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