Anil Singhvi’s Strategy January 5: Day support zone on Nifty is 13,950-14,025 & Bank Nifty is 30,875-30,925
Amid negative global markets, domestic institutional investors (DIIs), positive foreign institutional investors (FIIs), neutral futures & options (F&O) and sentiment cues, the short-term trend of the Indian stock markets will be positive on Tuesday, January 5, 2021
Amid negative global markets, domestic institutional investors (DIIs), positive foreign institutional investors (FIIs), neutral futures & options (F&O) and sentiment cues, the short-term trend of the Indian stock markets will be positive on Tuesday, January 5, 2021.
Benchmark domestic equity indices on Monday, January 4, 2021, continued their record-setting rally amid positive global cues. Both stocks hit fresh lifetime highs as the Sensex at Bombay Stock Exchange achieved 48,000 mark for the first time while the Nifty at National Stock Exchange crosses 14,100 level.
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The Sensex closed 307.82 points or 0.64% up at 48,176.80 and the Nifty added 114.40 points or 0.82% close at to 14,132.90. However, the Bank Nifty index fell 13.40 points or -0.04% to close lower at 31,212.45.
Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for January 5:
Treat gap down opening as running and healthy correction.
Reduce and keep number of stocks and open position light so you can enter at lower levels.
FIIs buying to support market recovery from lower levels.
Wait for the market to stabilise near support levels and re-enter.
Day support zone on Nifty is 13,950-14,025, below that 13,850-13,875 is strong buy zone.
Day higher zone on Nifty is 14,150-14,200.
Day support zone on Bank Nifty is 30,875-30,925, below that 30,550-30,625 is strong Buy zone.
Day higher zone on Bank Nifty is 31,400-31,500.
Small Day Range for trading on Nifty is 14,025-14,125 , while the medium and bigger ranges are 13,950-14,150 and 13,875-14,200, respectively.
Small Day Range for trading on Bank Nifty is 31,000-31,325, while the medium and bigger ranges are 30,875-31,400 and 30,625-31,500, respectively.
FIIs increased Index long to 78% Vs 75%.
PCR at 1.52 vs 1.37, VIX up by 2% at 20.03.
For Existing Long Positions:
Nifty intraday and closing stop loss are 13,925.
Bank Nifty intraday stop loss is 30,875 and closing stop loss is 31,000.
For Existing Short Positions:
Nifty intraday and closing stop loss are 14,150.
Bank Nifty intraday and closing stop loss are 31,525
For New Positions:
Buy Nifty in 13,950-14,025 range with a stop loss of 13,850 and target 14,100, 14,125, 14,150, 14,200.
Sell Nifty with a stop loss of 14,150 and target 14,025, 14,000, 13,980, 13,950
For New Positions:
Buy Bank Nifty in 30,550-30,625 range with a stop loss of 30,450 and target 30,750, 30,875, 30,925, 31,000.
Aggressive Traders Buy Bank Nifty in 30,875-30,925 range with strict stop loss is 30,825 and target 31,000, 31,075, 31,175, 31,225, 31,300.
Sell Bank Nifty with a stop loss of 31,500 and target 31,000, 30,925, 30,875, 30,750, 30,625.
No Stock in F&O Ban
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