Anil Singhvi’s Strategy January 22: Day support zone on Nifty is 14,475-14,525 & Bank Nifty is 31,900-32,000

Amid neutral global markets, futures & options (F&O), positive foreign institutional investors (FIIs) and sentiment and negative domestic institutional investors (DIIs) cues, the short-term trend of the Indian stock markets will be positive on Friday, January 22, 2021.

Erasing all its early gains in the last hour of the trade on Thursday, January 21, 2021, the S&P BSE Sensex ended with a loss of 167.36 points, or 0.34 per cent, at 49,624.76. The Sensex during the afternoon trade had hit 50,000-mark for the first time in its history. The Nifty dropped 54.35 points, or 0.37 per cent, to trade at 14,590.35. Likewise, Bank Nifty fell 356.80 points, or 1.10 per cent, to settle at 32,186.90.

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Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for January 22:

Day support zone on Nifty is 14,475-14,525.

 Day higher zone on Nifty is 14,700-14,750.

Day support zone on Bank Nifty is 31,900-32,000, below that 31,650-31,800 is strong Buy zone.

Day higher zone on Bank Nifty is 32,350-32,500, above that 32,575-32,700 is profit-booking zone.

Small Day Range for trading on Nifty is 14,575-14,650, while the medium and bigger day ranges are 14,525-14,700 and 14,475-14,750, respectively.

 Small Day Range for trading on Bank Nifty is 32,000-32,350, while the medium and bigger day ranges are 31,850-32,500 and 31,725-32,600, respectively.

FIIs increased Index long at 67% Vs 64%.

PCR at 1.58 Vs 1.44.

VIX up by 3% at 22.18.

For Existing Long Positions:

Nifty intraday and closing stop loss are 14,500.

Bank Nifty intraday and closing stop loss are 31,950.

For Existing Short Positions:

Nifty intraday and closing stop loss are 14,650.

Bank Nifty intraday and closing stop loss are 31,350.

For New Positions:

Buy Nifty in 14,475-14,525 range with a stop loss of 14,425 and target 14,565, 14,595, 14,640, 14,665, 14,700.

 Sell Nifty in 14,700-14,750 range with a stop loss of 14,800 and target 14,650, 14,600, 14,575.

For New Positions:

Buy Bank Nifty in 31,725-31,850 range with a stop loss of 31,650 and target 31,950, 32,000, 32,050, 32,150, 32,250, 32,350.

Sell Bank Nifty in 32,500-32,600 range with a stop loss of 32,725 and target 32,500, 32,350, 32,250, 32,150, 32,050.

F&O Ban Update:

Already In Ban: SAIL, Idea, Sun TV

New In Ban: Nil

Out Of Ban: Nil