Anil Singhvi’s Strategy January 4: Day support zone on Nifty is 13,935-13,985 & Bank Nifty is 31,000-31,100

Amid positive global markets, foreign institutional investors (FIIs), futures & options (F&O), sentiment and neutral domestic institutional investors (DIIs) cues, the short-term trend of the Indian stock markets will be positive on Monday, January 4, 2021.

Domestic shares clocked modest gains on the first day of the calendar year 2021. The barometer index, the S&P BSE Sensex, gained 117.65 points or 0.25% to settle at 47,868.98. Nifty 50 added 36.75 points or 0.26 per cent and settled at 14,018.50. However, Nifty 50 lost 38.20 points or 0.12% to close at 31,225.85.

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The broader market outperformed the benchmarks. The S&P BSE Mid-Cap index rose 1.24% while the S&P BSE Small-Cap index gained 0.90%.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for January 4:

Today’s Strategy:

Keep Buying near the day support level.

Fresh buying and short-covering as Nifty sustain above 14,000.

Strong support from FIIs buying.

No selling from DIIs on January 1, 2021.

PCR very light at 1.37.

Day support zone on Nifty is 13,935-13,985, below that 13,850-13,875 is strong Buy zone.

Day higher zone on Nifty is 14,075-14,125, above that 14,175-14,200 is profit-booking zone.

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

Day higher zone on Bank Nifty is 31,400-31,500, above that 31,575-31,750 is profit-booking zone.

Small Day Range for trading on Nifty 13985-14050, while the medium and bigger day ranges are 13,935-14,075 and 13,875-14,125, respectively.

 Small Day Range for trading on Bank Nifty is 31,100-31,400, while the medium and bigger day ranges are 31,000-31,500 and 30,900-31,575, respectively.

FIIs decreased Index long to 75% Vs 76%.

PCR comfortable at 1.37 Vs 1.52, VIX down by 7% at 19.56.

For Existing Long Positions:

Nifty intraday and closing stop loss are 13,925.

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

For Existing Short Positions:

Nifty intraday and closing stop loss are 14,050.

Bank Nifty intraday and closing stop loss are 31,525.

For New Positions:

Buy Nifty with a stop loss of 13,925 and target 14,125, 14,175. 

Sell Nifty in 14,150-14,200 range with a stop loss of 14,250 and target 14,100, 14,050.

For New Positions:

Buy Bank Nifty in 31,000-31,100 range with a stop loss of 30,850 and target 31,250, 31,325, 31,400, 31,500, 31,575.

Sell Bank Nifty in 31,750-31,850 range with a stop loss of 31,900 and target 31,575, 31,500, 31,400, 31,325.

No Stock in F&O Ban