Zee Business Managing Editor Anil Singhvi expects support for the Nifty50 benchmark to come in at 17,800-17,850 levels on Friday, as Dalal Street returns to trade after the Republic Day holiday, and a strong buy zone in the 17,675-17,750 area. For the Nifty Bank — whose 12 constituents include SBI, HDFC Bank, Bank of Baroda, Kotak Mahindra Bank, Axis Bank and ICICI Bank, he sees support at 41,550-41,650 levels, and, further below, a strong buy zone in the 41,300-41,425 band. 

Here's how Anil Singhvi sums up the market setup on January 27: 

  • Global: Positive
  • FII: Negative
  • DII: Positive
  • F&O: Positive
  • Sentiment: Neutral
  • Trend: Positive

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For the 50-scrip headline index, Anil Singhvi expects a higher zone at 17,975-18,025 levels, and further above, a strong sell zone in the 18,050-18,125 band. For the banking index, he sees a higher zone at 41,875-41,950 levels, and a strong sell area in the 42,025-42,175 zone.

  • FIIs index longs at 38 per cent on Friday vs 58 per cent on Wednesday
  • Put-call ratio (PCR) at 0.91 on Friday vs 0.81 the previous day
  • Nifty Bank PCR at 0.62 vs 0.75 the previous day
  • Fear index India VIX up 7.3 per cent at 14.66

Anil Singhvi market strategy

For existing long positions:

  • Nifty intraday stop loss at 17,750 and closing stop loss at 17,850
  • Nifty Bank intraday and closing stop loss at 41,500

For existing short positions:

  • Nifty intraday and closing stop loss at 18,125
  • Nifty Bank intraday and closing stop loss at 42,200

For new positions in Nifty:

  • Buy Nifty with a stop loss at 17,750 for targets of 17,950, 17,975, 18,000, 18,025, 18,050 and 18,100
  • Aggressive traders can sell Nifty in the 18,050-18,125 range with a strict stop loss at 18,200 for targets of 18,000, 17,975, 17,950, 17,900 and 17850

For new positions in Nifty Bank:

  • Aggressive traders can buy Nifty Bank with a strict stop loss at 41,500 for targets of 41,725, 41,825, 41,875, 41,950, 42,025 and 42,100
  • Aggressive traders can sell Nifty Bank in the 42,000-42,200 range with a strict stop loss at 42,300 for targets of 41,950, 41,875, 41,825,  41,725, 41,650 and 41,550

No stock in F&O ban

Stocks of the day:

  • Sell Dixon Tech, sharp fall possible amid weak results 
  • Sharp gains expected in Bajaj Auto after strong results; target Rs 4,000
  • Some more gain possible in Tata Motors after strong results; stock rose ahead of earnings announcement 
  • Cipla results weak, but concall good; core business stronger, a recovery possible
  • Ceat results strong with robust cash flow

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