Anil Singhvi’s Strategy January 14: Metal & Oil Companies are Positive; Buy Tata Steel Futures with Stop Loss 492

Amid positive global markets and sentiment, neutral foreign institutional investors (FIIs), domestic institutional investors (DIIs) and futures & options (F&O) cues, the short-term trend of the Indian stock markets will remain positive on Tuesday, January 14, 2020.

Market benchmarks, Sensex and Nifty, ended at fresh lifetime highs on Monday, January 13, 2020, amid positive domestic and global cues. The sentiment was boosted due to easing crude oil prices and strengthening rupee. The market also reacted to the positive IIP numbers that were released by the government on Friday. IT major Infosys (up by 4.65 per cent) was the biggest contributor to index gains. The stock got a boost after encouraging Q3 numbers.

After rallying nearly 300 points to its record intra-day high of 41,900, the 30-share BSE index settled at a new closing peak of 41,859.69, up 259.97 points, or 0.62 per cent. Likewise, the broader Nifty scaled its lifetime (intra-day) high of 12,338, before ending at 72.75 points, or 0.59 per cent, higher at 12,329.55, which is its new closing peak. Similarly, Bank Nifty also went up by 80.25 points, or 0.25 per cent, to close at 32,177.65.

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Zee Business's Managing Editor Anil Singhvi's Market Strategy for January 14:

Day support zone on Nifty is 12,250-12,285 and Bank Nifty is 31,950-32,075. 

Higher zone on Bank Nifty is 32,450-32,600. 

The small day range on Nifty is 12,285-12,375, while the medium and bigger ranges are 12,250-12,400 and 12,225-12,450. 

The small day range on Bank Nifty is 32,075-32,350, while the medium and bigger ranges are 32,000-32,450 and 31,900-32,600. 

For Existing Long Positions:

Nifty intraday and closing stop loss 12,250.

Bank Nifty intraday and closing stop loss 32,000.

For Existing Short Positions:

Nifty intraday and closing stop loss 12,340

Bank Nifty intraday and closing stop loss 32,350. 

For New Positions:

Buy Nifty with a stop loss of 12,250 and target 12,375, 12,400, 12,450. 

Sell Nifty only if breaks below 12250. 

Buy Bank Nifty with a stop loss of 32,075 and target 32,325, 32,425, 32,500, 32,600. 

Sell Bank Nifty in 32,450-32,600 range with a stop loss of 32,650 and target 32,350, 32,250, 32,200. 

Put-Call Ratio (PCR) higher at 1.64, the volatility index (VIX) is 14.28.

Still in F&O Ban: Yes Bank

Sectors:

Positive: Metals, Oil Cos.

Stock of the Day:

Buy Tata Steel Futures: Stop loss 492 and target 505, 510. China to ban new steel production.