Anil Singhvi’s Strategy January 9: Oil Companies, Metals, Banks & NBFC are Positive; Buy NMDC Futures with Stop Loss 120

Amid positive global markets, domestic institutional investors (DIIs) and sentiment, neutral futures & options (F&O) and negative foreign institutional investors (FIIs) cues, the short-term trend of the Indian stock markets will be neutral on Thursday, January 9, 2020.

The key benchmark indices ended with small losses on Wednesday, January 8, 2020, amid volatility. Sentiment got fragile after Iran fired more than a dozen missiles at two US military targets inside Iraq in response to the killing of Iranian commander Qassem Soleimani last week. After plunging nearly 400 points during the session, the 30-share BSE index pared some losses to settle 51.73 points, or 0.13 per cent, down at 40,817.74. Similarly, the broader Nifty fell 27.60 points, or 0.23 per cent, to finish at 12,025.35. Similarly, Bank Nifty fell by 25.75 points, or 0.08 per cent, to settle at 31,373.65. 

Zee Business's Managing Editor Anil Singhvi's Market Strategy for January 9:

Next important support zone on Nifty is 11,925-12,000 and Bank Nifty is 31,200-31,250.  

Higher zone on Nifty 12,150-12,200 and Bank Nifty is 31,800-32,000. 

The small day range for trading on Nifty is 12,000-12,100, while medium and bigger ranges are 11,975-12,175 and 11,925-12,200 respectively. 

The small day range for trading on Bank Nifty is 31,350-31,600, while medium and bigger ranges are 31,250-31,800 and 31,150-31,900 respectively.

Put-Call Ratio (PCR) lower at 1.25, the volatility index (VIX) up again 7% by 15.64

For Existing Long Positions:

Nifty intraday and closing stop loss 11,975. 

Bank Nifty intraday and closing stop loss 31,150. 

For Existing Short Positions:

Nifty intraday and closing stop loss 12,100. 

Bank Nifty intraday and closing stop loss 31,500. 

For New Positions:

Buy Nifty with a stop loss of 11,975 and target 12,100, 12,150, 12,175. 

Sell Nifty in 12,150-12,200 range with a stop loss of 12,250 and target 12,100, 12,050, 12,025. 

Buy Bank Nifty with a stop loss of 31,200 and target 31,600, 31,800, 31,900. 

Sell Bank Nifty in 31,800-31,900 range with a stop loss of 32,000 and target 31,600, 31,500, 31,400. 

Still in F&O Ban: Yes Bank

Sectors

Positive: Oil Cos. Metals, Banks, NBFC.

Stock of the Day: 

Buy NMDC Futures: Stop loss 120 and target 125, 127. No divestment plans of Company is a positive