Anil Singhvi’s Strategy January 20: Day support zone on Nifty is 14,435-14,475 & Bank Nifty is 32,250-32,350

Amid positive global markets, foreign institutional investors (FIIs) and sentiment, neutral domestic institutional investors (DIIs) and futures & options (F&O) cues, the short-term trend of the Indian stock markets will be positive on Wednesday, January 20, 2021.

Benchmark domestic stocks on Tuesday, January 19, 2021, surged more than one and a half per cent, recovering the losses of the last two sessions. The Sensex and Nifty logged gains amid positive global cues. The S&P BSE Sensex closed 834.02 points, or 1.72 per cent, up at 49,398.29. The NSE Nifty 50 also climbed 239.85 points, or 1.68 per cent, to trade at 14,521.15. The Bank Nifty gained 613.10 points, or 1.93 per cent, to close 32,424.85.  

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The broader market at BSE also gained. The BSE Mid-Cap index jumped 2.31 per cent and the BSE Small-Cap index rose 1.66 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for January 20:

Most strong support levels for Nifty is 14,275-14,350 and Bank Nifty is 31,650-31,825.

Day support zone on Nifty is 14,435-14,475, below that 14,275-14,350 is strong Buy zone.

Day higher zone on Nifty is 14,565-14,650. 

Day support zone on Bank Nifty is 32,250-32,350, below that 31,825-32,000 is strong Buy zone. 

Day higher zone on Bank Nifty is 32,575-32,700, above that 32,850-32,950 is profit-booking zone. 

The small day range for trading on Nifty is 14,475-14,565, while the medium and bigger day ranges are 14,435-14,600 and 14,350-14,650, respectively.

The small day range for trading on Bank Nifty is 32,250-32,575, while the medium and bigger day ranges are 32,050-32,700 and 31,825-32,850, respectively. 

FIIs Index long unchanged at 67%.

PCR at 1.36 Vs 1.12.

VIX down by 6% at 22.90.

For Existing Long Positions:

Nifty intraday and closing stop loss are 14,425.

Bank Nifty intraday and closing stop loss are 32225

For Existing Short Positions:

Nifty intraday and closing stop loss are 14600

Bank Nifty intraday and closing stop loss are 32600

For New Positions:

Buy Nifty in 14,435-14,465 range with a stop loss of 14,350 and target 14,500, 14,560, 14,600, 14,650. 

Sell Nifty in 14,600-14,650 range with a stop loss of 14,700 and target 14,565, 14,525, 14,500.

For New Positions:

Buy Bank Nifty in 32,050-32,250 range with a stop loss of 31,950 and target 32,325, 32,450, 32,500, 32,575, 32,675, 32,725.  

Sell Bank Nifty in 32,675-32,725 range with a stop loss of 32,800 and target 32,575, 32,500, 32,450, 32,350, 32,250.

F&O Ban Update:

Already In Ban: BHEL, SAIL, Idea

Out Of Ban: Nil

New In Ban: Nil

Indigo Paints IPO Preview:

Positives:

Impressive revenue and profit growth.

IPO money will be used for a big expansion.

After expansion, valuations will be attractive.

Experienced promoters.

Negatives:

Small size and small market share.

Historic valuations expensive.

MUST APPLY for GOOD LISTING GAINS and long term.