Anil Singhvis Market Strategy January 10: FMCG to be Positive; Oil Companies & Metals are Negative
Continuing its rising spree for the fourth session, the benchmark indices, Sensex and Nifty, ended in green on Wednesday, January 9, 2019.
Continuing its rising spree for the fourth session, the benchmark indices, Sensex and Nifty, ended in green on Wednesday, January 9, 2019. The BSE Sensex gained 231.98 points, or 0.64 per cent, to end at 36,212.91. Similarly, Nifty 50 also gained 53 points, 0.49 per cent, to settle at 10,855.15 and Nifty Bank ended at 27,720.40, showing a gain of 210.90 points, 0.77 per cent. Amid positive domestic institutional investors (DIIs), neutral global market, future and option (F&O), foreign institutional investors (FII) and cautious sentiments cue the short-term trend of the Indian market will be positive on Thursday, January 10, 2019.
Zee Business's Managing Editor Anil Singhvi's Market Strategy for January 10:
Nifty to remain volatile in 10,700-10,900 range on a closing basis.
The small and medium trading range on Nifty lies between 10,800-10,900 and 10,750-10,925 respectively. The extreme range stands at 10,725-10,975.
The small and medium trading range on Bank Nifty lies between 27,550-27,750 and 27,400-27,850 respectively. The extreme range stands at 27,300-27,950.
Traders are advised to reduce their positions in the case where the two indices, Nifty and Bank Nifty, close below the mark of 10,750 and 27,300.
Buy and Sell Strategy for Nifty
Buy Nifty in 10,725-10,750 range with a stop loss of 10,700 and target of 10,800, 10,825.
Sell Nifty in 10,875-10,925 range with a stop loss of 10,950 and target of 10,825, 10,800, 10,750.
Buy and Sell Strategy for Bank Nifty
Buy Bank Nifty in 27500-27550 range with a stop loss of 27,400 and target of 27,600, 27,700, 27,800.
Sell Bank Nifty in 27900-28000 range with a stop loss of 28,050 and target of 27,750.
The put-call ratio (PCR) stands at 1.43 and the volatility index (VIX) is 15.27.
2 Already in F&O Ban: Adani Power, Jet Airways.
Sectors:
Positive: FMCG
Negative: Oil Companies, Metals sell on rise
Stock of the Day:
Sell IOC Futures: Stop loss of 133 and target of 130, 128. Higher crude prices and weakening rupee.
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