Anil Singhvi’s Strategy January 1: Metals & Auto sectors are Positive; Buy Tata Motors Futures with Stop Loss 183

Amid positive global markets, domestic institutional investors (DIIs) and sentiment, neutral futures and options (F&O) and negative foreign institutional investors (FIIs) cues, the short-term trend of the Indian stock markets will be positive on Wednesday, January 1, 2020, the first trading day of 2020.

Equity benchmark indices dropped on the last trading day of 2019 amid weak global cues and year-end holidays thinned trading across markets. The selling pressure was seen in Reliance Industries, auto, technology and banking & financials stocks. The Sensex at the Bombay Stock Exchange declined 304.26 points, or 0.73 per cent, to end the year at 41,253.74. The Nifty at the National Stock Exchange lost 87.40 points, or 0.71 per cent, to 12,168.45, while Bank Nifty was down by 193.25 points, or 0.60 per cent, to settle at 32,161.65. 

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

Strong day support zone on Nifty is 12,125-12,150 and Bank Nifty is 31,950-32,100. 

The small day range for trading on Nifty is 12,150-12,200, while the medium and bigger ranges lie between 12,125-12,250 and 12,100-12,275 respectively. 

The small day range for trading on Bank Nifty is 32,100-32,250, while the medium and bigger ranges lie between 32,025-32,350 and 31,950-32,500 respectively.

For Existing Long Positions:

Nifty intraday and closing stop loss 12,100. 

Bank Nifty intraday and closing stop loss 31,950.

For Existing Short Positions:

Nifty intraday and closing stop loss 12,300.

Bank Nifty intraday and closing stop loss 32,425. 

For New Positions:

Buy Nifty with a stop loss of 12,100 and target 12,200, 12,250, 12,275. 

Sell Nifty in 12,250-12,285 range with a stop loss of 12,300 and target 12,220, 12,200. 

Buy Bank Nifty with a stop loss of 31,950 and target 32,250, 32,350, 32,425. 

Sell Bank Nifty in 32,450-32,500 range with a stop loss of 32,625 and target 32,400, 32,350, 32,250.

Put-Call Ratio (PCR) is 1.40 and volatility index (VIX) is 11.67

Sectors:

Positive: Metals, Auto

No Stock in F&O Ban today

Stock of the Day:

Buy Tata Motors Futures: Stop loss 183 and target 188, 190, 192. Positive developments on Trade deal.