Amid negative global markets, foreign institutional investors (FIIs), neutral domestic institutional investors (DIIs), future & options (F&O) and sentiment cues, the short-term trend of the Indian stock markets will be positive on Wednesday, January 19, 2022. 

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The domestic equity benchmarks, the Sensex and the Nifty, on Tuesday, January 18, 2022, witnessed losses of around one per cent. Both stocks fell amid negative global cues. The Sensex closed below the 61,000 mark while the Nifty settled near the 18,100 level. The BSE Sensex declined 554.05 points, or 0.90 per cent to finish at 60,754.86. The NSE Nifty also fell 195.05 points, or 1.07 per cent, to end at 18,113.05. In the sectoral indices at NSE, the Bank Nifty index dropped 5.85 points, or 0.02 per cent, to 38,210.30.

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The broader markets underperformed the Sensex at the BSE with S&P BSE MidCap and S&P BSE SmallCap indices losing 2.20 per cent and 1.92 per cent, respectively.

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

Day support zone on Nifty is 17,975-18,050, below that 17,800-17,875 is a strong buy zone.

Day higher zone on Nifty is 18,175-18,225, above that 18,250-18,300 is a strong sell zone.

Day support zone on Bank Nifty is 37,925-38,025, below that 37,700-37,850 is a strong support zone.

Day higher zone on Bank Nifty is 38,375-38,475, above that 38,600-38,850 is a strong sell zone.

The small day range for trading on Nifty is 18,050-18,200, while the medium and bigger day ranges are 17,975-18,250 and 17,875-18,300, respectively.

The small day range for trading on Bank Nifty is 38,025-38,375, while the medium and bigger day ranges are 37,850-38,475 and 37700-38,600, respectively.

FIIs long position unchanged at 64%

PCR light and comfortable at 0.92 Vs 1.33

India VIX up by 6% at 17.78

For Existing Long Positions:

Nifty Intraday and Closing stop loss are 17,950.

Bank Nifty Intraday and Closing stop loss are 37,900.

For Existing Short Positions:

Nifty Intraday and Closing stop loss are 18,325.

Bank Nifty Intraday stop loss is 38,850 and Closing stop loss is 38,750.

For New Positions:

Buy Nifty in 17975-18050 range with a stop loss of 17,800 and target 18,125, 18,175, 18,200, 18,250, 18,275, 18,300.

Sell Nifty in 18,225-18,300 range with a stop loss of 18,350 and target 18,175, 18,125, 18,075, 18,000, 17,975.

For New Positions:

Buy Bank Nifty in 37,700-37,925 range with a stop loss of 37,600 and target 38,000, 38,125, 38,350, 38,400, 38,475.

Aggressive Traders Buy Bank Nifty with a Strict stop loss of 38,000 and target 38,350, 38,475, 38,600, 38,725, 38,850.

Sell Bank Nifty in 38,475-38,600 range with a stop loss of 38,900 and target 38,400, 38,350, 38,200, 38,025, 37,925, 37,850.

F&O Ban Update:

New In Ban: BHEL

5 Already In Ban: Granules, Escorts, SAIL, Indiabulls Housing Finance, Vodafone Idea

Out Of Ban: Nil

AGS Transact Tech IPO Preview: NOTA/ AVOID

Positives:

The second largest company in Cash management and ATM Services

Good Domestic funds in Anchor Book

Negatives:

Financials not impressive, loss in the current year

Despite free cash flow, debt on the higher side

Delay in paying Salary, GST and few Creditors in the past