Anil Singhvi’s Strategy January 10: Banks, NBFC & Metals are Positive; Buy Bharti Infratel Futures with Stop Loss 244

Amid positive global markets, foreign institutional investors (FIIs), domestic institutional investors (DIIs) as well as sentiment and neutral futures & options (F&O) cues, the short-term trend of the Indian stock markets will be positive on Friday, January 10, 2020.

Equity benchmark on Thursday, January 9, 2020, soared more than 1.5 per cent as global investors heaved a sigh of relief after the US-Iran conflict appeared to cool off. The 30-share BSE index surged 634.61 points, or 1.55 per cent, to finish at 41,452.35. Similarly, the broader Nifty surged 190.55 points, or 1.58 per cent, to 12,215.90, while Bank Nifty rose by 718.75 points, or 2.29 per cent, to 32,092.40. 

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Zee Business's Managing Editor Anil Singhvi's Market Strategy for January 10:

Day support zone on Nifty is 12,100-12,150 and Bank Nifty is 31,800-31,900.

Higher zone on Nifty is 12,265-12,285 and Bank Nifty is 32,350-32,500.

The small day range for Nifty is 12,150-12,250, while the medium and bigger ranges are 12,125-12,275 and 12,100-12,300 respectively. 

The small day range for Nifty is 32,000-32,200, while the medium and bigger ranges are 31,900-32,350 and 31,800-32,450 respectively. 

Put-Call Ratio (PCR) sharp up at 1.59, the volatility index (VIX) down 10.5% by 14.

For Existing Long Positions:

Nifty intraday and closing stop loss 12,100.

Bank Nifty intraday and closing stop loss 31,800. 

For Existing Short Positions:

Nifty intraday and closing stop loss 12,300. 

Bank Nifty intraday and closing stop loss 32,500.

For New Positions:

Buy Nifty near 12,150 with a stop loss of 12,100 and target 12,225, 12,250, 12,280. 

Sell Nifty in 12,265-12,285 range with a stop loss of 12,300 and target 12,225, 12,200, 12,150. 

Buy Bank Nifty in 31,850-31,925 range with a stop loss of 31,650 and target 32,075, 32,175, 32,350, 32,425. 

Sell Bank Nifty in 32,350-32,500 range with a stop loss of 32,625 and target 32,250, 32,200, 32,100. 

Still in F&O Ban: Yes Bank

Sectors: 

Positive: Banks, NBFC, Metals buy on dips

Stock of the Day:

Buy Bharti Airtel Futures in 450-456 range: Stop loss 444 and target 460, 470, 475. Huge response to QIP & FCCB issues. 

Buy Bharti Infratel Futures: Stop loss 244 and target 253, 255.