Bulls returned to Dalal Street after a gap of four days as the domestic market bounced back to end in green on Thursday, January 31, 2019. On the day, Nifty 50 shot up by 179.15 points, or 1.68%, to close at 10,830.95 while Nifty Bank was up by 469.95 points, or 1.75%, to end at 27,295.45. Similarly, S&P BSE Sensex skyrocketed by 665.44 points, or 1.87%, and settled at 36,256.69. 

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Axis Bank and GAIL, which rose by 4.32% and 3.54%, were the largest gainer of the day. 

Positive global market, neutral domestic institutional investors (DIIs), foreign institutional investors (FII) and future and option (F&O) and cautious sentiments cues suggest that the short-term trend of the Indian market will be positive on Thursday, January 31, 2019.

‪Zee Business's Managing Editor Anil Singhvi's Budget Day Strategy for January 31: 
Before Budget:
10,800 and 27,200 are going to be the deciding levels on Nifty and Bank Nifty respectively. 

The small and medium trading range on Nifty resides at 10,800-10,875 and 10,750-10,900 respectively. The extreme range stands at 10700-10925. 

In the case of the Bank Nifty, the small and medium trading range lies between 27,150-27,400 and 27,050-27,500 respectively. The extreme range rests at 26,900-27,650. 

After Budget:
Exit all long positions if Nifty and Bank Nifty break the levels of 10650 and 26900 respectively.  
Fresh buying can be initiated if Nifty and Bank Nifty trades above the mark of 11,000 and 27,800 respectively.  

Watch this Zee Business video here:

Buy and Sell Strategy on Nifty
Buy Nifty with a stop loss of 10,800 and target 10,875, 10,900, 10,925. 
Sell Nifty in 10,900-10,925 range with a stop loss of 10,975 and target 10,850. 
 
Buy and Sell Strategy on Bank Nifty
Buy Bank Nifty with a stop loss of 27,250 and target 27,400, 27,500, 27,650. 

Sell Bank Nifty in 27500-27650 range with a stop loss of 27,800 and target 27,450, 27,350. 

Result Analysis:
Petronet LNG: Mix results, margins weak. Futures range 215 to 240. 

Stock of the Day:
Buy NMDC Futures: Stop loss 96 and target 99, 101. Good operational performance and guidance. 

Aaj Ka Hero:
Sell Vedanta Futures: Stop loss 200 and target 194, 190, 185. Weak results.