Anil Singhvi’s Strategy January 2: Buy Metals on Dips; Sell Piramal Enterprises Futures with Stop Loss 1555

Amid positive global markets and sentiment, neutral domestic institutional investors (DIIs), foreign institutional investors (FIIs) and futures and options (F&O) cues, the short-term trend of the Indian stock markets will continue to be positive on Thursday, January 2, 2020.

The stocks markets on Wednesday, January 1, 2020, closed with marginal gains after US President Donald Trump said that Phase 1 of the trade deal with China would be signed on 15 January. Plus, the Union Government's announcement of Rs102 lakh crore infrastructure push to realise $5 trillion GDP goal by 2025 also boosted sentiment.

The Sensex at the Bombay Stock Exchange gained 52.28 points, 0.13%, to end at 41,306.02. The Nifty at the National Stock exchange rose 14.05 points, or 0.17%, to 12,182.50. However, Bank Nifty lost 58.75 points, or 0.09%, to settle at 32,102.90.

Zee Business's Managing Editor Anil Singhvi's Market Strategy for January 2:

12,200 and 32,200 are the deciding levels on Nifty and Bank Nifty respectively.

Day support zone on Nifty is 12,125-12,150 and Bank Nifty is 31,950-32,050.

Strong selling zone on Nifty is 12,250-12,285 and Bank Nifty is 32,350-32,450.

The small day range for trading on Nifty is 12,150-12,200, while the medium and bigger ranges lie between 12,125-12,220 and 12,100-12,250.

The small day range for trading on Bank Nifty is 32,050-32,250, while the medium and bigger ranges lie between 31,950-32,350 and 31,750-32,450.

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 32,350.

For New Positions:

Buy Nifty in 12,125-12,150 range with a stop loss of 12,100 and target 12,200, 12,220, 12,250.

Sell Nifty in 12,250-12,285 range with a stop loss of 12,300 and target 12,220, 12,200, 12,175.

Buy Bank Nifty with a stop loss of 31,950 and target 32,200, 32,250, 32,350.

Sell Bank Nifty in 32,350-32,450 range with a stop loss of 32,500 and target 32,250, 32,200, 32,100.

Put-Call Ratio (PCR) is 1.15 and the volatility index (VIX) is 11.60.

Sectors:

Positive: Metals buy on dips

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Enters F&O Ban today: Yes Bank

Stock of the Day:

Sell Piramal Enterprises Futures: Stop loss 1555 and target 1530, 1515, 1505.