Amid negative global markets, foreign institutional investors (FIIs), neutral domestic institutional investors (DIIs), positive future & options (F&O) and cautious sentiment cues, the short-term trend of the Indian stock markets will be positive on Thursday, January 20, 2022. 

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Domestic benchmarks, the Sensex and the Nifty, on Wednesday, January 19, 2022, witnessed losses of around one per cent. The key domestic stocks fell amid negative cues from the global equity markets. The Sensex finished near the 60,000 level and the Nifty settled below the 18,000 mark.

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The BSE Sensex declined 656.04 points, or 1.08 per cent, to close at 60,098.82. The NSE Nifty also slipped 174.65 points, or 0.96 per cent, to trade at 17,938.40. The Bank Nifty index declined 168.95 points, or 0.44 per cent, to 38,041.35.  

In the broader market at BSE, the Mid-Cap ended 0.34 per cent down while the Small-Cap index closed almost flat adding marginally by 0.03 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for January 20:

Trend to change from Positive to Neutral if Nifty closes below 17,750.

Day support zone on Nifty is 17,825-17,875, Below that 17,750-17,800 is a strong Buy zone.

Day higher zone on Nifty is 17,975-18,050, above that 18,125-18,200 is a strong Sell zone.

Day support zone on Bank Nifty is 37,700-37,850, Below that 37,375-37,500 is a strong Buy zone.

 Day higher zone on Bank Nifty is 38,200-38,350, Above that 38,475-38,600 is a strong Sell zone.

The small day range for trading on Nifty is 17,875-18,000, while the medium and bigger day ranges are 17,800-18,050 and 17,750-18,125, respectively.

The small day range for trading on Bank Nifty is 37,750-38,200, while the medium and bigger day ranges are 37,500-38,350 and 37,375-38,475, respectively.

FIIs long position decreased to 60% Vs 64%.

PCR near oversold at 0.78 Vs 0.92, short-covering expected from lower levels.

India VIX unchanged at 17.82.

For Existing Long Positions:

Nifty Intraday and Closing stop loss are 17,750.

Bank Nifty Intraday and Closing stop loss are 37,700.

For Existing Short Positions:

Nifty Intraday and Closing stop loss are 18,125.

Bank Nifty Intraday and Closing stop loss are 38,500.

For New Positions:

Buy Nifty in 17750-18825 range with a stop loss of 17,700 and target 17,875, 17,925, 17,975, 18,000, 18,050, 18,125.

Sell Nifty in 18000-18125 range with a stop loss of 18,225 and target 17,925, 17,875, 17,825, 17,800, 17,750.

For New Positions:

Buy Bank Nifty in 37,375-37,500 range with a stop loss of 37,250 and target 37,700, 37,775, 37,850, 37,925, 38,000.

Aggressive Traders Buy Bank Nifty in 37,700-37,850 range with a strict stop loss of 37,600 and target 38,000, 38,125, 38,200, 38,325, 38,400, 38,475.

Sell Bank Nifty in 38,350-38,475 range with a stop loss of 38,600 and target 38,225, 38,050, 37,850, 37,775, 37,700.

F&O Ban Update:

6 Already In Ban: BHEL, Granules, Escorts, SAIL, Indiabulls Housing Finance, Vodafone Idea

New In Ban: Nil

Out Of Ban: Nil