Amid positive global markets, domestic institutional investors (DIIs), negative foreign institutional investors (FIIs), neutral futures & options (F&O) and sentiment cues, the short-term trend of the Indian stock markets will be neutral on Friday, January 29, 2021.

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

Benchmark domestic stocks on Thursday, January 28, 2021, declined more than one per cent. The Sensex and Nifty logged losses amid negative global cues. The BSE Sensex closed below 47,000-mark while the NSE Nifty settled near 13,800 level.

See Zee Business Live TV Streaming Below:

The Sensex plunged 536 points, or 1.13 per cent, down at 46,874. The NSE Nifty also declined 150 points, or 1.07 per cent to close at 13,818. However, Bank Nifty rose 73.75 points or 0.24 per cent to settle at 30,358. The broader market at BSE also fell but outperformed the Sensex. The BSE Mid-Cap index ended 0.46 per cent down and the BSE Small-Cap index slipped 0.45 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for January 29:

Day support zone on Nifty is 13,700-13,825. 

Day higher zone on Nifty is 13,925-13,975, above that 14,200-14,250 is strong profit-booking zone.

Day support zone on Bank Nifty is 30,050-30,175, below that 29,700-29,850 is strong Buy zone.

Day higher zone on Bank Nifty is 30,725-30,850, above that 31,000-31,175 is profit-booking zone.

Small Day Range for trading on Nifty is 13,800-13,925 and the medium range is 13,725-13,975.

Small Day Range for trading on Bank Nifty is 30,175-30,725, while the medium and bigger ranges are 30,000-30,850 and 29,700-31,000, respectively.

FIIs increased Index long at 62% Vs 59%.

PCR comfortable at 1.34 Vs 0.89.

VIX is unchanged at 24.29.

For Existing Long Positions:

Nifty intraday and closing stop loss are 13,700.

Bank Nifty intraday and closing stop loss are 30,000.

For Existing Short Positions:

Nifty intraday and closing stop loss are 14,000.

Bank Nifty intraday and closing stop loss are 30,500.

For New Positions:

Buy Nifty with a stop loss of 13,700 and target 13,925, 13,975, 14,000, 14,050.

Best range to Sell Nifty is 14,200-14,250.

Aggressive traders Sell Nifty in 13,975-14,050 range with a stop loss of 14,100 and target 13,925, 13,900, 13,825, 13,725.

For New Positions:

Buy Bank Nifty with a stop loss of 30,000 and target 30,500, 30,600, 30,725, 30,850, 30,950.

Best range to Sell Bank Nifty 31,000-31,200.

Aggressive traders Sell Bank Nifty in 30,850-30,950 range with a stop loss of 31,200 and target 30,725, 30,600, 30,500, 30,350, 30,200.

No Stocks in F&O Ban:

Out Of Ban: SAIL

IRFC Listing Preview:

Expected to list in between 26-27 rupees.

Long term investors can hold for 1-3 years.