Anil Singhvi’s Strategy January 31: Market to be Neutral; Metals & Banks are Positive

At the Stock markets, key indices - the Sensex and the Nifty - fell for the fourth straight day on Wednesday, January 30, 2019. The BSE Sensex ended with a loss of 1.25 point to close at 35,591.25 while Nifty 50 ended flat at 10,651.80 after declining 0.40 points. Similarly, Nifty Bank was down by 252.10 points to end at 26,825.50. At the forex market, the rupee ended almost unchanged at 71.12, against the dollar. 

Positive global market and domestic institutional investors (DIIs), neutral 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 neutral on Thursday, January 31, 2019. 

‪Zee Business's Managing Editor Anil Singhvi's Market Strategy for January 31: 
10,700 and 26,900 are deciding levels on Nifty and Bank Nifty respectively. 

The small and medium trading range on Nifty lies between 10,650-10,700 and 10,625-10,750 respectively while the extreme range stands at 10,575-10,800. 

In the case of Bank Nifty, the small and medium trading ranges lie between 26,700-27,000 and 26,600-27,125 respectively while the extreme range stands at 26,500-27,250. 

Important intraday support level on the two indices lies between 10,600-10,650 and 26,650-26,700. 

Reduce short positions only if Nifty and Bank Nifty will close above the mark of 10,750 and 27,000. 

Watch this Zee Business video here:

#LIVE | देखिए बाजार का शुरुआती एक्शन #FirstTrade में @AnilSinghviZEE और बाजार के दिग्गजों के साथ। https://t.co/zm2468VvwH

— Zee Business (@ZeeBusiness) January 31, 2019

Buy and Sell Strategy on Nifty
Buy Nifty with a stop loss of 10,650 and target 10,700, 10,750, 10,775. 

Sell Nifty in 10,775-10,800 range with a stop loss of 10,825 and target 10,750, 10,725. 

Buy and Sell Strategy on Bank Nifty
Buy Bank Nifty with a stop loss of 26,700 and target 27,000, 27,125, 27,250. 

Sell Bank Nifty in 27,250-27,300 range with a stop loss of 27,400 and target 27,150, 27,050. 

The put-call ratio (PCR) stands at 1.21 and the volatility index (VIX) is 17.85.    

Out of Ban: Jain Irrigation

4 Already in Ban: BOI, DHFL, Adani Power, Adani Enterprises. 

Sectors:
Positive: Metals, Banks

Result Analysis:
Torrent Pharma: Strong results due to one-off revenue. Valuations are expensive. Profit booking possible after a gap up. Futures range from 1830 to 1900. 

Castrol: Strong results as expected. Book profit after a gap up. Futures higher levels 168, 170. Maximum can go up to 174-175.

Stock of the Day:
Sell Ajanta Pharma Futures: Stop loss 1090 and target TGT 1050, 1035, 1015. 

Sell Hexaware Futures: Stop loss 325 and target 310, 305. 

Aaj Ka Hero:
Buy ICICI Bank Futures: Stop loss 365 and target 380, 385, 390. Strong improvement in asset quality.