Anil Singhvi’s Strategy January 16: FMCG & Midcap Private Banks are Positive; Sell KPIT Futures

Domestic equity indices, Sensex and Nifty, on Tuesday, January 15, 2018, closed in green as IT and bank stocks performed well across the day.  Sensex settled with a gain of 464.77 points, or 1.30 per cent, at 36,318.33, with 27 stocks in the green and three in the red. The Nifty 50 closed 149.20 points, or 1.39 per cent, high at 10,886.80, with 46 stocks advancing and 4 declining. 

Wipro, Yes Bank, Tech Mahindra and Infosys were the top gainers and Maruti Suzuki and Power Grid were among the top losers of the day. 

Positive domestic institutional investors (DIIs), foreign institutional investors (FII) and sentiments and neutral global market and future and option (F&O) cues suggest that the short-term term of the Indian market will be positive on Wednesday, January 16, 2019. 

Zee Business's Managing Editor Anil Singhvi's Market Strategy for January 16: 
Nifty is about to break out on the upper side. One more positive closing above 10875 will confirm it. 
The small and medium trading range on Nifty lies between 10,850-10,925 and 10,800-10,950 while the extreme range stands at 10,750-10,975. 

In the case of Bank Nifty, the small trading range stands at 27,300-27,500 while the medium and extreme ranges are lying between 27,250-27,600 and 27,150-27,750. 
Traders are advised to reduce their positions if the two indices close after going below the mark of 10,800 and 17,250. 

Buy and Sell strategy on Nifty
Buy Nifty with a stop loss of 10,800 and target of 10,900, 10,925, 10,975. 
Sell Nifty 10,975-11,000 range with a stop loss of 11,050 and target of 10,925, 10,900. 

Buy and Sell strategy on Bank Nifty
Buy Bank Nifty in 27150-27250 range with a stop loss of 27,100 and target of 27,400, 27,500. 
Sell Bank Nifty 27,500-27,600 range with a stop loss of 27,750 and target of 27,400-27,300. 

The put-call ratio (PCR) stands at 1.51 and the volatility index (VIX) is 15.58.

2 Already in F&O Ban: Adani Power, Jet Airways

Sectors:
Positive: FMCG, Midcap Private Banks. 

Stock of the Day:
Sell KPIT Futures: Stop loss 214 and target 205, 202, 195. Weak results on all fronts. 

Aaj ka Hero:
Buy Speciality Restaurant: Stop loss 81 and target 85, 87. Strong results announced.