Anil Singhvi’s Strategy January 25: Market is Neutral; Biocon is Stock of the Day
Yes Bank remained the top gainer at Nifty after appointment after Ravneet Gill’s appointment as the new CEO of the bank was announced. The stock closed 14.32% high.
After being rangebound throughout the day, the markets witnessed a mild breakdown towards the close and ended in green on Thursday, January 24, 2019. S&P BSE Sensex closed up by 86.63 points (0.24%) at 36,195.10 while Nifty 50 was up by 18.30 points (0.17%) and ended at 10,849.80. Nifty Bank also closed 15.65 points (0.06%) higher at 27,266.40.
Yes Bank remained the top gainer at Nifty after appointment after Ravneet Gill’s appointment as the new CEO of the bank was announced. The stock closed 14.32% high.
Positive domestic institutional investors (DIIs), global market and sentiments, neutral futures & Options (F&O) and foreign institutional investors (FII) cues suggest that the short-term trend of the Indian market will continue to be neutral on Friday, January 25, 2019.
Zee Business's Managing Editor Anil Singhvi's Market Strategy for January 25:
10,850 and 27,250 are going to be the deciding levels on Nifty.
The small and medium trading range on Nifty resides between 10,800-10,900 and 10,775-10,925. The extreme range stands at 10,750-10,950.
The small and medium trading range on Bank Nifty resides between 27,150-27,350 and 27,050-27,450. The extreme range stands at 26,900-27,600.
Intraday support level on Nifty and Bank Nifty stands at 10,800 and 27,150.
Most crucial levels on the higher side on the two indices, Nifty and Bank Nifty, stands at 10,925 and 27,500 respectively.
Traders can reduce their positions if the two indices close below the mark of 10,800 and 27,250.
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Buying and Selling Strategy on Nifty
Buy Nifty with a stop loss of 10,800 and target 10,900, 10,925, 10,950.
Sell Nifty in 10,925-10,975 range with a stop loss of 11,000 and target 10,900, 10,875.
Buying and Selling Strategy on Bank Nifty
Buy Bank Nifty with a stop loss of 27,150 and target 27,350, 27,400, 27,500.
Sell Bank Nifty in 27,450-27,500 range with a stop loss of 27,600 and target 27,350, 27,250.
The put-call ratio (PCR) stands at 1.44 and the volatility index (VIX) is 17.43.
3 Already in Ban: Jet Airways, Reliance Capital, Jain Irrigation
Stock of the Day:
Buy Biocon Futures: Stop loss 665 and target 680, 690. Strong operational performance
Aaj ka Hero:
Buy Coffee Day Enterprises: Stop loss 284 and target 295, 300. Mindtree stake may be sold at a premium is a big positive for the company.
09:22 AM IST