Amid positive global markets, foreign institutional investors (FIIs), sentiment, neutral futures & options (F&O) and negative domestic institutional investors (DIIs) cues, the short-term trend of the Indian stock markets will be positive on Friday, January 1, 2021. 

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Domestic equity barometers ended near the flat line on Thursday, December 31, 2020, the last day of the calendar year 2020, following a volatile session. The S&P BSE Sensex added 5.11 points or 0.01 per cent to close at record closing high of 47,751.33. Nifty 50 was successful in claiming the 14000-mark but closed below it. The Nifty 50 index lost 0.20 points as it closed at 13,981.75. Nifty Bank declined 39 points or 0.12 per cent to settle at 31,264.05.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for January 1: 

Day support range on Nifty is 13,875-13,935, below that 13,800-13,850 is strong Buy zone.

Day higher range on Nifty is 14,000-14,025, above that 14,075-14,125 is profit-booking range. 

Day support range on Bank Nifty is 31,000-31,100, below that 30,875-30,925 is strong Buy zone.

Day higher range ON Bank Nifty IS 31,400-31,500, above that 31,750-31,850 is profit-booking range. 

Small Day Range for trading on Nifty is 13,935-14,000, while the medium and bigger ranges are 13,875-14,025 and 13,850-14,075, respectively.

Small Day Range for trading on Bank Nifty is 31,100-31,400, while the medium and bigger ranges are 31,000-31,500 and 30,875-31,575, respectively. 

FIIs increased Index long to 76% Vs 63%.

PCR at 1.52 Vs 1.56, VIX unchanged at 21.10.

For Existing Long Positions:

Nifty intraday stop loss is 13,850 and closing stop loss is 13,925.

Bank Nifty intraday and closing stop loss are 31,000.

For Existing Short Positions:

Nifty intraday and closing stop loss are 14,025.

Bank Nifty intraday and closing stop loss are 31,500.

For New Positions: 

Buy Nifty with a stop loss of 13,900 and target 14,000, 14,025, 14,075, 14,100.

Aggressive traders Sell Nifty in 14,075-14,125 range with a stop loss of 14,150 and target 14,025, 13,975, 13,935.

For New Positions:

Buy Bank Nifty in 31,000-31,075 range with a stop loss of 30,850 and target 31,250, 31,325, 31,400, 31,500, 31,575.  

Sell Bank Nifty in 31,500-31,575 range with a stop loss of 31,650 and target 31,400, 31,325, 31,275, 31,100. 

F&O Ban Update: 

New in Ban: Nil

Already in Ban: Nil

Out of Ban: SAIL, PNB, Canara Bank

Pick For 2021:

Buy GMDC: Target 60, 70, 90.

Attractive valuations, Book Value Rs 133.

Trades at 4 times forward PE.

Iron Ore prices skyrocket, EPS to jump by 35%.

Antony Waste Handling IPO:

Expect to list in 425-450 range. Investors keep SL of 400 to protect listing gains.