Amid negative global markets, foreign institutional investors (FIIs), sentiment, positive domestic institutional investors (DIIs) and neutral future & options (F&O) cues, the short-term trend of the Indian stock markets will be neutral on Thursday, January 27, 2022. 

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Domestic equity benchmarks gained more than half a per cent on Wednesday, January 25, 2022. Both stocks gained even as the cues from other Asian equity markets were negative. The Sensex finished above 57,800 while the Nifty ended near 17,250 points.

The BSE Sensex climbed 366.64 points, or 0.64 per cent, to close at 57,858.15 and the NSE Nifty surged 128.85 points, or 0.75 per cent, to settle at 17,277.95. In the sectoral indices at NSE, the Bank Nifty closed with a gain of 759.20 points, or 2.05 per cent, at 37,706.75.

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In the broader market at the BSE today, the Mid-Cap jumped 1.03 per cent and the Small-Cap index rose 0.81 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for January 27: 

Day support zone on Nifty is 16,850-17,000, below that 16,700-16,775 is a next Support zone.

Day higher zone on Nifty is 17,150-17,275, above that 17,300-17,375 is a strong Sell zone.

Day support zone on Bank Nifty is 36,950-37,225, below that 36,375-36,525 is a strong Buy zone.

Day higher zone on Bank Nifty is 37,575-37,700, above that 37,750-37,925 is a strong Sell zone.

The small day range for trading on Nifty is 17,000-17,150, while the medium and bigger day ranges are 16,850-17,275 and 16,700-17,375, respectively.

The small day range for trading on Bank Nifty is 37,225-37,575, while the medium and bigger day ranges are 36,950-37,700 and 36,425-37,850, respectively.

FIIs long position is unchanged at 44%, near oversold levels.

PCR near oversold levels at 0.85 Vs 0.67.

India VIX down by 6.5% at 21.36.

For Existing Long Positions:

Nifty Intraday stop loss is 16,975 and Closing stop loss is 17,150.

Bank Nifty Intraday and Closing stop loss are 36,900.

For Existing Short Positions:

Nifty Intraday and Closing stop loss are 17,325.

Bank Nifty Intraday and Closing stop loss are 37,850.

For New Positions:

Sell Nifty with a stop loss of 17,325 and target 17,000, 16,850, 16,775, 16,700, 16,625.

Aggressive Traders Buy Nifty in 16825-16900 range with a strict stop loss of 16,775 and target 16,975, 17,150, 17,200, 17,275, 17,300.

For New Positions:

Sell Bank Nifty with a stop loss of 37,850 and target 37,375, 37,225, 37,050, 36,950, 36,525, 36,400.

Buy Bank Nifty in 36,375-36,525 range with a stop loss of 36,300 and target 36,625, 36,800, 36,950, 37,050, 37,225.

Aggressive Traders Buy Bank Nifty in 36,950-37,225 range with a strict stop loss of 36,800 and target 37,375, 37,500, 37,575, 37,700, 37,750, 37,850.

F&O Ban Update:

2 Out Of Ban: NALCO, Escorts

New In Ban: Nil

Already In Ban: Nil