Amid positive global markets, foreign institutional investors (FIIs), futures & options (F&O), neutral domestic institutional investors (DIIs) and sentiment cues, the short-term trend of the Indian stock markets will be positive on Tuesday, January 19, 2021. 

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Sensex and Nifty declined around one per cent in sync with losses in global equity indices on Monday, January 18, 2021. The BSE Sensex closed 470.40 points, 0.96 per cent, down at 48,564.27 and the NSE Nifty fell 152.40 points, or 1.06 per cent, to trade at 14,281.30. The Bank Nifty lost 435.05 points, or 1.35 per cent, to end at 31,811.75.   

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The broader market at BSE also fell, underperforming the Sensex. The BSE Mid-Cap index plunged 2.01 per cent and the BSE Small-Cap index tumbled 1.89 per cent.  

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for January 19:

Most strong support levels for Nifty and Bank Nifty are 14,150-14,225 and 31,200-31,325, respectively. 

Day support zone on Nifty is 14,150-14,225, Below that 14,050-14,100 is strong Buy zone. 

Day higher zone on Nifty is 14,350-14,425, Above that 14,475-14,500 is profit-booking zone. 

Day support zone on Bank Nifty is 31,500-31,650, below that 31,200-31,325 is strong Buy zone. 

Day higher zone on Bank Nifty is 32,050-32,150, above that 32,275-32,325 is profit-booking zone. 

Small Day Range for trading on Nifty is 14,225-14,350, while the medium and bigger day ranges are 14,150-14,425 and 14,100-14,475, respectively.

Small Day Range for trading on Bank Nifty is 31,650-32,050, while the medium and bigger day ranges are 31,500-32,150 and 31,325-32,275, respectively. 

FIIs Index long unchanged at 67%.

PCR oversold at 1.12 Vs 1.19.

VIX up by 2% at 24.40.

For Existing Long Positions:

Nifty intraday stop loss is 14,200 and closing stop loss is 14,150.

Bank Nifty intraday stop loss is 31,500 and closing stop loss is 31,700. 

For Existing Short Positions:

Nifty intraday and closing stop loss are 14,435. 

Bank Nifty intraday and closing stop loss are 32,050. 

For New Positions:

Buy Nifty with a stop loss of 14,150 and target 14,350, 14,425, 14,475. 

Sell Nifty in 14,425-14,475 range with a stop loss of 14,525 and target 14,350, 14,275, 14,225. 

For New Positions:

Buy Bank Nifty with a stop loss of 31,650 and target 31,950, 32,050, 32,150, 32,275, 32,325.  

Sell Bank Nifty in 32,275-32,325 range with a stop loss of 32,500 and target 32,150, 32,050, 32,000, 31,950. 

F&O Ban Update:

Already in Ban: BHEL, SAIL, Idea.

Out of Ban: Nil.

New in Ban: Nil.