Anil Singhvi’s Strategy January 31: Day support zone on Nifty is 17,100-17,150 & Bank Nifty is 37,500-37,575

Amid positive global markets, domestic institutional investors (DIIs), future & options (F&O), sentiment, negative foreign institutional investors (FIIs) and neutral sentiment cues, the short-term trend of the Indian stock markets will be neutral on Monday, January 31, 2022. 

Domestic stock markets logged modest losses on Friday, January 28, 2022. On the day, the S&O BSE Sensex fell 76.71 points, or 0.13 per cent, to settle at 57,200.23. The Nifty at the National Stock Exchange slipped 8.20 points, or 0.05 per cent, to finish at 17,101.95. In the sectoral indices at the NSE, the Bank Nifty index declined 292.70 points, or 0.77 per cent, to 37,689.40. 

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The broader markets outperformed the Sensex at the BSE with S&P BSE MidCap and S&P BSE SmallCap rising 1.02 per cent and 1.07 per cent, respectively.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for January 31: 

Day support zone on Nifty is 17,100-17,150, below that 17,000-17,075 is a strong Buy zone.

Day higher zone on Nifty is 17,275-17,300, above that 17,375-17,475 is a strong Profit booking zone.

Day support zone on Bank Nifty is 37,500-37,575, below that 37,225-37,375 is a strong Buy zone.

Day higher zone on Bank Nifty is 38,050-38,150, above that 38,350-38,475 is a strong Profit booking zone.

The small day range for trading on Nifty is 17,100-17,275, while the medium and bigger day ranges are 17,075-17,300 and 17,000-17,375, respectively.

The small day range for trading on Bank Nifty is 37,575-38,050, while the medium and bigger day ranges are 37,375-38,150 and 37,225-38,350, respectively.

FIIs long position at 28% Vs 33%, lowest level since April 2020.

PCR at 0.92 Vs 1.09.

Both FIIs and PCR are light and comfortable.

India VIX down by 2% at 20.70.

For Existing Long Positions:

Nifty Intraday and Closing stop loss are 16,975.

Bank Nifty Intraday and Closing stop loss are 37,500.

For Existing Short Positions:

Nifty Intraday and Closing stop loss are 17,325.

Bank Nifty Intraday and Closing stop loss are 38,050.

For New Positions:

Buy Nifty with a stop loss of 17,075 and target 17,200, 17,275, 17,300, 17,375, 17,400, 17,475.

Sell Nifty in 17,350-17,3425 range with a stop loss of 17,500 and target 17,275, 17,200, 17,150, 17,100, 17,075.

For New Positions:

Buy Bank Nifty in 37,225-37,375 range with a stop loss of 37,000 and target 37,500, 37,575, 37,700, 37,750, 37,850, 37,975.

Aggressive Traders Buy Bank Nifty with a strict stop loss of 37,500 and target 37,975, 38,050, 38,150, 38,200, 38,350, 38,425.

Sell Bank Nifty in 38,350-38,475 range with a stop loss of 38,500 and target 38,050, 37,975, 37,850, 37,750, 37,700, 37,575.

No Stocks in F&O Ban

AGS Transact Listing Preview: Expected to list around issue price of 175