Anil Singhvi’s Strategy January 17: Day support zone on Nifty is 18,125-18,175 & Bank Nifty is 38,025-38,150

Amid neutral global markets, future & options (F&O), negative foreign institutional investors (FIIs), positive domestic institutional investors (DIIs) and sentiment cues, the short-term trend of the Indian stock markets will be positive on Monday, January 17, 2022. 

The domestic equity benchmarks, Sensex and the Nifty, on Friday, January 14, 2022, closed almost flat. The key domestic stocks slipped marginally amid negative cues from the global equity markets. The BSE Sensex fell 12.27 points, or 0.02 per cent to end at 61,223.03. The NSE Nifty also slipped 2.05 points, or 0.01 per cent, to finish at 18,255.75. The Bank Nifty fell 99.55 points or 0.26 per cent to settle at 38,370.40.

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In the broader market at BSE, the Mid-Cap gained 0.22 per cent and the Small-Cap index surged 0.5 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for January 17:

Day support zone on Nifty is 18,125-18,175, below that 18,000-18,050 is a strong Buy zone.

Day higher zone on Nifty is 18,250-18,275, above that 18,300-18,375 is a Profit booking zone.

Day support zone on Bank Nifty is 38,025-38,150, below that 37,750-37,925 is a strong Buy zone.

Day higher zone on Bank Nifty is 38,475-38,600, above that 38,725-38,850 is a Profit booking zone.

The small day range for trading on Nifty is 18,175-18,275, while the medium and bigger day ranges are 18,125-18,300 and 18,050-18,375, respectively.

The small day range for trading on Bank Nifty is 38,025-38,475, while the medium and bigger day ranges are 37,850-38,725 and 37,700-38,850, respectively.

FIIs long position decreased to 66% Vs 67%.

PCR at 1.25 Vs 1.48.

India VIX down by 1% at 16.56.

For Existing Long Positions:

Nifty Intraday stop loss is 18,100 and Closing stop loss is 18,200.

Bank Nifty Intraday stop loss is 38,000 and Closing stop loss is 38,350.

For Existing Short Positions:

Nifty Intraday and Closing stop loss are 18,300.

Bank Nifty Intraday and Closing stop loss are 38,850.

For New Positions:

Buy Nifty in 18,050-18,125 range with a stop loss of 17,975 and target 18,175, 18,225, 18,250, 18,275, 18,300, 18,350.

Sell Nifty in 18,275-18,350 range with a stop loss of 18,400 and target 18,225, 18,200, 18,175, 18,125.

Aggressive Traders Sell Nifty with a strict stop loss of 18,300 and target 18,200, 18,175, 18,125, 18,075, 18,050, 18,000.

For New Positions:

Buy Bank Nifty in 38000-38050 range with a stop loss of 37,900 and target 38,350, 38,400, 38,475, 38,600, 38,700.

Sell Bank Nifty in 38,600-38,800 range with a stop loss of 39,000 and target 38,500, 38,400, 38,350, 38,150, 38,025.

Aggressive Traders Sell Bank Nifty with a strict stop loss of 38,550 and target 38,150, 38,025, 37,925, 37,875, 37,750, 37,700.

F&O Ban Update:

New In Ban: Escorts

Already In Ban: SAIL, Indiabulls Housing Finance, Vodafone Idea

Out Of Ban: Nil