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Amid positive global markets, neutral 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 remain positive on Thursday, August 11, 2022, said Zee Business Managing Editor Anil Singhvi.
On Wednesday, the benchmarks closed on a mixed/flat note with Sensex closing in the red and Nifty50 in the green above the 17500-mark. Sectors such as IT, Realty and FMCG stocks dragged the market most during yesterday’s session.
Anil Singhvi Strategy on Nifty, Bank Nifty on August 11, 2022
Nifty support zone 17500-17550, Below that 17400-17475 Strong Buy zone
Nifty higher zone 17675-17775, Above that 17800-17850 Profit booking zone
Bank Nifty support zone 38150-38225, Below that 37925-38050 Strong Buy zone
Bank Nifty higher zone 38600-38750, Above that 38875-39025 Profit booking zone
Nifty support levels 17550, 17525, 17500, 17475, 17450, 17400, 17350
Nifty higher levels 17600, 17650, 17675, 17775, 17800, 17850
Bank Nifty support levels 38300, 38225, 38150, 38050, 37975, 37925, 37750
Bank Nifty higher levels 38400, 38500, 38600, 38750, 38825, 38875, 38925, 39025
FIIs Index Long at 52% Vs 55%
PCR at 1.23 Vs 1.30
India VIX up by 1.5% at 19.59
For Existing Long Positions:
Nifty Intraday SL 17425 n Closing SL 17325
BankNifty Intraday SL 38150 n Closing SL 37900
For Existing Short Positions:
Nifty Intraday n Closing SL 17600
BankNifty Intraday n Closing SL 38500
For New Positions:
Buy Nifty:
SL 17475 Tgt 17600, 17650, 17675, 17775, 17800, 17850
Aggressive Traders Sell Nifty in 17775-17850 range:
Strict SL 17900 Tgt 17675, 17650, 17600, 17550, 17525, 17500
For New Positions:
Buy BankNifty:
SL 38150 Tgt 38500, 38600, 38750, 38825, 38875, 38925, 39025
Aggressive Traders Sell BankNifty in 38750-38925 range:
Strict SL 39100 Tgt 38600, 38500, 38400, 38300, 38225, 38150
F&O Ban Update:
Out Of Ban: Escorts
Already In Ban: Balrampur Chini, Delta Corp
New In Ban: Nil
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