Anil Singhvi’s Strategy January 6: Day support zone on Nifty is 14,125-14,150 & Bank Nifty is 31,400-31,500

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 Wednesday, January 6, 2021.

Benchmark domestic equity indices on Tuesday, January 5, 2021, continued their record-setting rally amid mixed global cues. The Nifty settled near the crucial 14,200-mark. Positive Asian cues and robust foreign inflows boosted sentiment. Both stocks hit fresh lifetime highs as the Sensex at Bombay Stock Exchange gained 260.98 points or 0.54 per cent to 48,437.78, while the Nifty at National Stock Exchange added 66.60 points or 0.47 per cent to 14,199.50. The Bank Nifty gained 509.80 points or 1.63 per cent to close higher at 31,722.25.

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The broader market at BSE also climbed outperforming the Sensex. The BSE Mid-Cap index surged 1.38 per cent and the BSE Small-Cap index gained 0.71 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for January 6:

Today’s Strategy:

Follow Buy on dips strategy near support levels.

FIIs buying to support at lower levels.

Focus on midcap-small cap stocks.

The day support zone on Nifty is 14,125-14,150, below that 13,975-14,050 is strong Buy zone.

Day higher zone on Nifty is 14,250-14,300, above that 14,350-14,400 is profit-booking zone.

The day support zone on Bank Nifty is 31,400-31,500, below that 31,200-31,325 is strong Buy zone.

Day higher zone on Bank Nifty is 31,950-32,050, above that 32,175-32,250 is profit-booking zone.

The small day range for trading on Nifty is 14,150-14,250, while the medium and bigger day ranges are 14,100-14,300 and 14,050-14,350, respectively.

The small day range for trading on Bank Nifty is 31,500-31,950 Small Day Range, while the medium and bigger day ranges are 31,325-32,050 and 31,225-32,175, respectively.

FIIs Index long unchanged at 78%

PCR at 1.62 vs 1.52, VIX up by 2% at 20.46

For Existing Long Positions:

Nifty intraday and closing stop loss are 14,000.

Bank Nifty intraday stop loss is 31,400 and closing stop loss is 31,200.

For Existing Short Positions:

Nifty intraday and closing stop loss are 14,225.

Bank Nifty intraday and closing stop loss are 31,850.

For New Positions:

Buy Nifty in 14,025-14,050 range with a stop loss of 13,950 and target 14,100, 14,125, 14,150, 14,200. 

Aggressive traders Buy Nifty in 14,125-14,150 range with a stop loss of 14,100 and target 14,200, 14,250, 14,300, 14,350.

Sell Nifty in 14,275-14,325 range with a stop loss of 14,350 and target 14,225, 14,200, 14,150.

For New Positions:

Buy Bank Nifty in 31,200-31,350 range with a stop loss of 31,000 and target 31,475, 31,550, 31,725.

Aggressive Traders Buy Bank Nifty in 31,400-31,500 range with strict stop loss is 31,300 and target 31,725, 31,850, 31,950, 32,050, 32,175, 3,2250.

Sell Bank Nifty in 31,950-32,050 range with a stop loss of 32,200 and target 31,850, 31,750, 31,650, 31,550.

F&O Ban Update:

New in Ban: SAIL