Anil Singhvi's strategy 14 Sept: Nifty support zone is 17765-17835, Bank Nifty is 40075-40200

Amid negative global cues, led by the biggest fall in the US market since June 2020, positive foreign institutional investors (FIIs), negative domestic institutional investors (DIIs), negative future and options (F&O) and cautious sentiment, the short-term trend of the Indian market will remain positive on Wednesday

Anil Singhvi's strategy on Nifty, Bank Nifty on September 14, 2022

Nifty support zone is 17765-17835 and 17650-17690, below that 17540-17625 is a strong buy zone

Nifty higher zone is 17890-17925, above that 17975-18075 is a strong sell zone

Bank Nifty support zone is 40075-40200 and 39600-39800, below that 39250-39450 is a strong buy zone

Bank Nifty higher zone is 40425-40575, above that 40675-40875 is a strong sell zone

Nifty support levels 17835, 17800, 17765, 17700, 17650, 17625, 17575, 17540

Nifty higher levels 17890, 17925, 17975, 18000, 18075

Bank Nifty support levels 40275, 40200, 40075, 39950, 39800, 39700, 39575, 39450

Bank Nifty higher levels 40375, 40425, 40575, 40675, 40750, 40825, 40875

FIIs Index Long at 35% Vs 25%
PCR near overbought level at 1.39 Vs 1.18
Bank Nifty PCR at 1.20 Vs 1.05
India VIX down by 3% at 17.47

For Existing Long Positions:

Nifty Intraday and Closing SL 17750
Bank Nifty Intraday and Closing SL 40175

For Existing Short Positions:

Nifty Intraday and Closing SL 18000
Bank Nifty Intraday and Closing SL 40900

For New Positions:

Sell Nifty if No Big Gap-down at Open:
SL 18000 Tgt 17800, 17765, 17700, 17650, 17625, 17575, 17540

Buy Nifty in 17540-17650 range:
SL 17475 Tgt 17690, 17760, 17790, 17825, 17890, 17925

For New Positions:
Sell BankNifty if No Big Gap-down at Open:
SL 40600 Tgt 40275, 40200, 40075, 39950, 39800, 39700, 39575, 39450

Buy BankNifty in 39600-39800 range:
SL 39200 Tgt 39950, 40075, 40200, 40275, 40325, 40375, 40425

F&O Ban Update:
Already In Ban: IB Housing Finance Ambuja Cement, Delta Corp
New In Ban: Nil
Out Of Ban: Nil