Anil Singhvi's strategy on August 18: Support zone on Nifty is 17650-17700, Bank Nifty is 38875-38925

Amid positive global markets, positive Foreign Institutional Investors (FIIs), negative Domestic Institutional Investors (DIIs), neutral Future and Options (F&O) and positive sentiment, the short-term trend of the Indian market will be positive on Tuesday

Earlier, the market ended higher by 0.22% on Friday.

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

Earlier, the market ended higher by 0.2% on Friday. The broader Nifty50 ended at 17,698.15 after gaining 39.15 points, while the Sensex rose by 130.18 points to settle at 59,462.78.

Anil Singhvi Singhvi's strategy on Nifty, Bank Nifty on August 16

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Nifty support zone is 17650-17700, below that 17525-17600 is a strong buy zone

Nifty higher zone is 17850-17900, above that 17950-18050 is a profit booking zone

Bank Nifty support zone is 38875-38925, below that 38650-38750 is a strong buy zone

Bank Nifty higher zone is 39325-39425, above that 39575-39750 is a profit booking zone

Nifty support levels 17725, 17700, 17650, 17625, 17600, 17525, 17500

Nifty higher levels 17775, 17800, 17850, 17900, 17950, 18000, 18050

Bank Nifty support levels 38925, 38875, 38825, 38750, 38650, 38500

Bank Nifty higher levels 39200, 39275, 39325, 39425, 39500, 39575, 39675, 39750

FIIs Index Long at 58% Vs 55%
PCR at 1.24 Vs 1.38
India VIX down by 4% at 17.61

For Existing Long Positions:

Nifty Intraday stoploss (SL) 17600 and Closing SL 17500
BankNifty Intraday SL 38725 and Closing SL 38650

For Existing Short Positions:

Nifty Intraday and Closing SL 17800
BankNifty Intraday and Closing SL 39200

For New Positions:

Buy Nifty:
SL 17600 Tgt 17775, 17800, 17850, 17900, 17950, 18000, 18050

Sell Nifty in 17900-18000 range:
SL 18100 Tgt 17850, 17800, 17775, 17725, 17700, 17650, 17600

For New Positions:

Buy BankNifty:
SL 38725 Tgt 39200, 39275, 39325, 39425, 39500, 39575, 39675, 39750

Aggressive Traders Sell BankNifty in 39500-39675 range:
Strict SL 39750 Tgt 39425, 39325, 39275, 39200, 39075, 38925, 38875, 38750

F&O Ban Update:
New In Ban: Tata Chemicals
Already In Ban: Balrampur Chini, Delta Corp
Out Of Ban: Nil

Syrma SGS Technology IPO Preview:
RISK TAKING INVESTORS APPLY FOR LONG TERM

Positives:
Experienced and quality management
Strong growth outlook

Negatives:
Downtrend in margins
Reasonable valuations, not very attractive

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