Anil Singhvi’s Market Strategy January 9: Metals, NBFC, Media are Negative; Buy Infosys Futures

Benchmark domestic stocks, Sensex and Nifty, on Tuesday, January 8, 2019, closed with gains for the third session in a row amid mixed global markets. On the day, the S&P BSE Sensex climbed 130.77, or 0.36 per cent, to close at 35,980.93 while Nifty 50 surged 30.35 points, or 0.28 per cent to end at 10,802.15. Similarly, Nifty Bank went up 204.95 points, or 0.75 per cent to end at 27,509.50. 

Sun Pharma (4.17 per cent), ICICI Bank (3.15 per cent) and SBI (3.10 per cent) were the top gainers of the day.  

Amid positive global market, sentiments and domestic institutional investors (DIIs), neutral future and option (F&O), and negative foreign institutional investors (FII) cue the short-term trend of the Indian market will be positive on Wednesday, January 9, 2019.

Zee Business's Managing Editor Anil Singhvi's Market Strategy for January 9:

The small trading range on Nifty stands at 10,750-10,850 while the medium and extreme ranges lie between 10,725-10,900 and 10,700-10,925. 

The small trading range on Bank Nifty stands at 27,400-27,600 while the medium and extreme ranges lie between 27,350-27,700 and 27,250-27,800. 

Traders are advised to reduce their positions if Nifty and Bank Nifty closes below the mark of 10,725 and 27,150 respectively. 

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#FastMoney | इंट्राडे में कमाई के 20 दमदार शेयर जानिए संदीप ग्रोवर और रजत देवगन से।@AnilSinghviZEE @devganrajat9 @sandeepgrover09 @deepaliranaa pic.twitter.com/3YxAyUeDsC

— Zee Business (@ZeeBusiness) January 9, 2019

Buy and Sell Strategy for Nifty

Buy Nifty with a stop loss of 10,750 and target of 10,850, 10,900, 10,925. 

Sell Nifty in 10,900-10,925 range with a stop loss of 10,950 and target of 10,850. 

Buying Strategy for Bank Nifty

Buy Bank Nifty with a stop loss of 27,350 and target of 27,600, 27,700, 27,800. 

The put-call ratio (PCR) stands at 1.41 and the volatility index (VIX) is 15.70.

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

Sectors:

Negative: Metals, NBFC, Media

Stock of the Day:

Buy Infosys Futures: Stop loss 665 and target 685, 690. Book profit if it opens up with a gap. The company may consider buyback, special dividend on January 11, 2019. 

Aaj Ka Hero:

Buy HT Media: Stop loss 39 and target 41, 42. Government increases print media Advertisement rates by 25%.