Anil Singhvi’s Strategy January 15: Gas Companies & Metals are Positive; Banks & Oil Companies are Negative

Amid positive sentiment, neutral global markets, foreign institutional investors (FIIs) and futures & options (F&O) and negative domestic institutional investors (DIIs) cues, the short-term trend of the Indian stock markets will remain positive on Wednesday, January 15, 2020.

The market benchmarks Sensex and Nifty on Tuesday, January 14, 2020, ended at fresh lifetime highs amid mixed domestic and global cues. The key indices climbed more than 0.20 per cent, but gains were limited due to a surge in domestic inflation numbers dashed hopes of further monetary easing by the central bank. The Sensex climbed 92.94 points, or 0.22 per cent, to close at 41,952.63. Likewise, the broader Nifty also hit its lifetime high of 12,362.30, before ending at 33 points, or 0.27 per cent, higher. However, the Nifty Bank lost 106 points, or 0.33 per cent, and closed at 32,071.65.

Vedanta Limited (up 2.87 per cent), Britannia (up 2.30 per cent), Hero MotoCorp (up 2.06 per cent) were the top three gainers on Nifty 50 on the day. 

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Zee Business's Managing Editor Anil Singhvi's Market Strategy for January 15:

Day support zone on Nifty is 12,250-12,300 and Bank Nifty is 31,800-31,900. 

Higher zone on Bank Nifty 32,350-32,450. 

The small day range for trading on Nifty is 12,330-12,375, while the medium and bigger ranges are 12,300-12,400 and 12,250-12,450 respectively. 

The small day range for trading on Bank Nifty is 31,950-32,200, while the medium and bigger ranges are 31,800-32,350 and 31,700-32,450 respectively.

Put-Call Ratio (PCR) is 1.68, alert at higher levels. The volatility index (VIX) is 13.91.

For Existing Long Positions:

Nifty intraday and closing stop loss 12,300. 

Bank Nifty intraday and closing stop loss 31,950. 

For Existing Short Positions:

Nifty intraday and closing stop loss 12,400. 

Bank Nifty intraday and closing stop loss 32,350.

For New Positions:

Buy Nifty in 12,285-12,330 range with a stop loss of 12,250 and target 12,370, 12,400, 12,450. 

Sell Nifty with a stop loss of 12,400 and target 12,335, 12,310, 12,285. 

Buy Bank Nifty in 31,700-31,800 range with a stop loss of 31,650 and target 31,900, 31,950, 32,000. 

Sell Bank Nifty with a stop loss of 32250 and target 31,950, 31,900, 31,800, 31,700.

Out of F&O Ban: Yes Bank

Sectors:

Positive: Gas companies, Metals

Negative: Banks, Oil Companies

Result Review:

Wipro: Stable results. Futures range lower 253-255, higher 262-265. Guidance stable margins better, other income reduced. 

Stock of the Day:

Sell IndusInd Bank Futures: Stop loss 1505 and target 1465, 1450, 1425. Poor results, UBS downgrades to 1210.