Amid neutral global markets, positive foreign institutional investors (FIIs), sentiment, negative domestic institutional investors (DIIs) and cautious futures & options (F&O) cues, the short-term trend of the Indian stock markets will be positive on Monday, January 11, 2021.

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Benchmark stocks on Friday, January 8, 2021, gained around one and a half per cent to hit new highs amid positive global cues. The BSE Sensex closed 689.19 points, or 1.43 per cent, up at 48,782.51 and the NSE Nifty rose 209.90 points, or 1.48 per cent, to settle at 14,347.25. Bank Nifty rose 128.20 points, or 0.40 per cent to close at 32,084.20.

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In the broader market at BSE, Mid-cap and Small-cap indices underperformed the Sensex. The BSE Mid-Cap index rose 1.01 per cent while the BSE Small-Cap index appreciated 0.72 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for January 11:

Day support zone on Nifty is 14,200-14,250, Day higher zone is 14,450-14,525.

 Day higher zone on Bank Nifty is 31,900-32,000, Below that 31,725-31,800 is strong Buy zone.

Day higher zone on Bank Nifty is 32,300-32,350, Above that 32,450-32,600 is profit-booking zone.

The Small Day Range for trading on Nifty is 14,300-14,400, while the medium and bigger ranges are 14,250-14,450 and 14,200-14,500, respectively. 

The Small Day Range for trading on Bank Nifty is 32,000-32,350, while the medium and bigger ranges are 31,900-32,450 and 31,725-32,600, respectively.

FIIs increased Index long at 81% Vs 80%

PCR slightly overbought at 1.71 vs 1.43

VIX unchanged at 20.64

For Existing Long Positions:

Nifty intraday and closing stop loss are 14,200.

Bank Nifty intraday and closing stop loss are 31,700.

For Existing Short Positions:

Nifty intraday and closing stop loss are 14,375.

Bank Nifty intraday and closing stop loss are 32,350.

For New Positions:

Buy Nifty with stop loss of 14,200 and target 14,400, 14,450, 14,500, 14,525.

 Aggressive traders Sell Nifty in 14,475-14,525 range with stop loss of 14,550 and target 14,425, 14,400, 14,350.

For New Positions:

Buy Bank Nifty with a stop loss of 31,800 and target 32,175, 32,275, 32,350, 32,450, 32,600.

 Aggressive Traders Sell Bank Nifty in 32,450-32,600 range with stop loss of 32,650 and target 32,350, 32,300, 32,200.

F&O Ban Update:

New in ban: Nil 

Still in ban: SAIL 

Out of ban: Nil