Anil Singhvi’s Strategy January 17: Buy Midcap Private Banks & Midcap IT stocks on dips; Axis Bank is Stock of the Day

Indian markets closed in the green on Wednesday, January 16, 2019, by clocking a small gain. The benchmark BSE Sensex and Nifty 50, both climbed 2.90 points to close at 36,321.29 and 3.50 points to end at 10,890.30 respectively amid mixed Asian markets. Nifty Bank also gained 82.95 points and closed at 27,483.70. 

Positive sentiments and domestic institutional investors (DIIs), neutral foreign institutional investors (FII) neutral global market and future and option (F&O) cues suggest that the short-term term of the Indian market will be positive on Thursday, January 17, 2019. 

Zee Business's Managing Editor Anil Singhvi's Market Strategy for January 17: 
10,900 and 27,500 are going to be a deciding level on Nifty and Bank Nifty. 
The small trading range on Nifty stands at 10,850-10,925 while the medium and extreme ranges lie between 10,825-10,950 and 10,800-10,975. 
In the case of the Bank Nifty, Small trading range stands at 27,400-27,550 while the medium and extreme ranges lie between 27,300-27,600 and 27,200-27,750. 
Traders are advised to reduce their positions if Nifty and Bank Nifty closes below the mark of 10,800 and 27,250. 

Buy and Sell Strategy on Nifty
Buy Nifty near 10,850 with a stop loss of 10,800 and target 10,925, 10,950, 10,975. 
Sell Nifty in 10,975-11,000 range with a stop loss of 11,050 and target 10,925. 

Buy and Sell Strategy on Bank Nifty
Buy Bank Nifty in 27,250-27,350 range with a stop loss of 27,150 and target 27,450, 27,550, 27,700. 
Sell Bank Nifty in 27,600-27,700 range with a stop loss of 27,750 and target 27,500-27,400. 

The put-call ratio (PCR) stands at 1.54 and the volatility index (VIX) is 16.08.

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

Sectors:
Buy on dips: Midcap Private Banks, Midcap IT stocks

Stock of the Day:
Buy Axis Bank Futures: Stop loss 650 and target 675, 680. CLSA upgraded the target to 800