The Indian domestic market closed remained flat on Tuesday, January 29, 2019, after swinging in both directions across the day. Nifty 50 lost 9.35 points (0.09%) to close at 10,652.20 while Nifty Bank went down 79.65 points (-0.30%) to end at 26,573.40. Similarly, S&P BSE Sensex ended at 35,592.50 after declining by 64.20 points (0.18%). 

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Negative global market, sentiments and foreign institutional investors (FII) and neutral future and option (F&O) and domestic institutional investors (DIIs) cues suggest that the short-term trend of the Indian market will be negative on Wednesday, January 30, 2019. 

Zee Business's Managing Editor Anil Singhvi's Market Strategy for January 30:
Small and medium trading range in Nifty lies between 10,600-10,700 and 10,550-10,750 while extreme range stands at 10,500-10,800.

The small and medium trading range on Bank Nifty lies between 26,450-26,650 and 26,300-26,800 while the extreme range resides at the mark of 26,150-26,900. 

Next important intraday support level on the two indices, Nifty and Bank Nifty, lies between 10,550-10,575 and 26,400-26,450. 

Reduce short positions only if Nifty and Bank Nifty will close above the mark of 10,750 and 27,000. 

Buy and Sell Strategy on Nifty
Sell Nifty in 10700-10750 range with a stop loss of 10,800 and target 10,650, 10,600. 
Buy Nifty in 10525-10575 range with a stop loss of 10,500 and target 10,600, 10,650. 

Watch this Zee Business video here:

Sell Strategy on Bank Nifty
Sell Bank Nifty in 26,650-26,750 range with a stop loss of 26,900 and target 26,500, 26,450, 26,250. 

The put-call ratio (PCR) stands at 1.22 and the volatility index (VIX) is 18.76.    

Enters F&O Ban: BOI, DHFL

Out of Ban: Nil

3 Already in Ban: Adani Power, Adani Enterprises, Jain Irrigation

Sectors:
Positive: IT
Negative: Metals, Auto

Result Analysis:
Axis Bank: Strong results as expected. Profit booking possible at higher levels. Futures range 640 to 680. 

Stock of the Day:
Buy HCL Tech Futures: Stop loss 965 and target 1000, 1015. Strong results, Guidance stable, reasonable valuations. Book profit at higher levels. 

Buy Yes Bank Futures: Stop loss 198 and target 205, 210. The settlement between promoters is positive. 

Aaj Ka Hero:
Buy Granules: Stop loss 87 and target 91, 93. Strong results and good operational performance.