Anil Singhvi’s Strategy January 21: Day support zone on Nifty is 14,565-14,600 & Bank Nifty is 32,250-32,325

Amid positive global markets, foreign institutional investors (FIIs) and sentiment, negative domestic institutional investors (DIIs) and neutral futures & options (F&O) cues, the short-term trend of the Indian stock markets will be positive on Thursday, January 21, 2021.

Benchmark domestic stocks on Wednesday, January 20, 2021, surged around 0.8 per cent amid positive global cues. Global shares were buoyant ahead of Joe Biden's inauguration as US president. Washington gets set to try for another massive round of stimulus for the economy.

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The BSE Sensex closed 393.83 points, or 0.80 per cent, up at 49,792.12. The NSE Nifty also climbed 123.55 points, or 0.85 per cent, to trade at 14,644.70. The Bank Nifty added 118.85 points, or 0.37 per cent, to close at 32,543.70. The broader market at BSE also gained. The BSE Mid-Cap index jumped 1.08 per cent and the BSE Small-Cap index rose 0.59 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for January 21:

Day support zone on Nifty is 14,565-14,600, below that 14,475-14,525 is the strong Buy zone.

Day higher zone Nifty is 14,700-14,750, above that 14,800-14,850 is profit-booking zone.

Day support zone on Bank Nifty is 32,250-32,325, below that 32,000-32,150 is strong Buy zone.

Day higher zone on Bank Nifty is 32,675-32,725, above that 32,850-32,950 is profit-booking zone.

Small Day Range for trading on Nifty is 14,600-14,700, while the medium and bigger day ranges are 14,575-14,750 and 14,525-14,800, respectively.

Small Day Range for trading on Bank Nifty is 32,325-32,700, while the medium and bigger day ranges are 32,250-32,850 and 32,150-32,950 is bigger Range.

FIIs decreased Index long at 64% Vs 67%.

PCR at 1.44 Vs 1.36.

VIX down by 6% at 21.55.

For Existing Long Positions:

Nifty intraday and closing stop loss are 14,500.

Bank Nifty intraday and closing stop loss are 32,250.

For Existing Short Positions:

Nifty intraday and closing stop loss are 14,700.

Bank Nifty intraday and closing stop loss are 32,750.

For New Positions:

Buy Nifty with a stop loss of 14,550 and target 14,700, 14,750, 14,775, 14,800.

Aggressive traders Sell Nifty in 14,775-14,800 range with a stop loss of 14,850 and target 14,700, 14,675, 14,650.

For New Positions:

Buy Bank Nifty with a stop loss of 32,250 and target 32,675, 32,750, 32,800, 32,850, 32,950.  

Sell Bank Nifty in 32,950-33,000 range with a stop loss of 33,050 and target 32,850, 32,750, 32,625, 32,575, 32,525.

F&O Ban Update:

Already In Ban: SAIL, Idea

New In Ban: Sun TV

Out Of Ban: BHEL

Home First Finance IPO Preview:

Positives:

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Strong growth on a low base

Attractive valuations

Negatives:

Highly competitive Business

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