Anil Singhvi’s Strategy January 27: Day support zone on Nifty is 14,125-14,150 & Bank Nifty is 30,900-31,000

Amid neutral global markets, positive foreign institutional investors (FIIs), futures & options (F&O), negative domestic institutional investors (DIIs) and cautious sentiment cues, the short-term trend of the Indian stock markets will be neutral on Wednesday, January 27, 2021.

Earlier on Monday, January 25, 2021, the benchmark domestic stocks declined around one per cent amid mixed global cues. The BSE Sensex closed 530.95 points, or 1.09 per cent, down at 48,347.59. The NSE Nifty 50 also plunged 133 points, or 0.93 per cent, to settle at 14,238.90. However, Nifty 50 rose marginally by 31.15 points, or 0.1 per cent, to 31,198.40.

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The broader market at BSE also fell. The BSE Mid-Cap index ended 0.93 per cent down and the BSE Small-Cap index slipped 0.96 per cent.  

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for January 27:

Day support zone on Nifty is 14,125-14,150, below that 14,000-14,050 is strong Buy zone.

Day higher zone on Nifty is 14,350-14,375, above that 14,425-14,475 is profit-booking zone.

Day support zone on Bank Nifty is 30,900-31,000, below that 30,400-30,550 is strong Buy zone.

Day higher zone on Bank Nifty 31,500-31,650, above that 31,725-31,850 is profit-booking zone.

Small Day Range for trading on Nifty is 14,150-14,350, while the medium and bigger day ranges are 14,100-14,425 and 14,050-14,475, respectively.

Small Day Range for trading on Bank Nifty is 31,000-31,500, while the medium and bigger day ranges are 30,900-31,650 and 30,550-31,725, respectively.

FIIs increased Index long at 64% Vs 59%.

PCR oversold at 1.02 Vs 1.14, short-covering and fresh buying expected from lower levels.

VIX up by 4% at 23.25, volatility to continue.

For Existing Long Positions:

Nifty intraday and closing stop loss are 14,150.

Bank Nifty intraday and closing stop loss are 30,900.

For Existing Short Positions:

 Nifty intraday and closing stop loss are 14,375.

Bank Nifty intraday and closing stop loss are 31,550.

For New Positions:

Buy Nifty in 14,100-14,150 range with a stop loss of 14,000 and target 14,225, 14,350, 14,375, 14,425, 14,475.

Sell Nifty in 14,425-14,475 range with a stop loss of 14,525 and target 14,375, 14,350, 14,250, 14,225.

Aggressive traders Sell Nifty in 14,350-14,425 range with a stop loss of 14,500 and target 14,250, 14,225, 14,150, 14,125.

For New Positions:

Buy Bank Nifty in 30,550-30,650 range with a stop loss of 30,400 and target 30,900, 31,000, 31,125, 31,175, 31,450.

Aggressive traders Buy Bank Nifty in 30,900-31,000 range with strict stop loss of 30,850 and target 31,125, 31,175, 31,450, 31,550, 31,650.

 Sell Bank Nifty in 31,500-31,700 range with a stop loss of 31,850 and target 31,450, 31,350, 31,200.

Total 3 stocks in F&O Ban:

Already In Ban: SAIL, Nalco, PNB

New In Ban: Nil

Out Of Ban: Nil