Friday Focus: Unveiling the Ultimate Day Trading Guide for January 19th
Written by Sanjay Kumar
The Indian stock market faced continued downward pressure for the third consecutive day, closing in the red on Thursday, January 19th. The Nifty 50 index experienced a significant loss of 109 points, settling at 21,462, while the BSE Sensex concluded 313 points lower at 71,186. The Nifty Bank index also saw a decline of 350 points, finishing at 45,713. The small-cap index showed marginal gains, while the mid-cap index closed slightly lower.
Expert Analysis:
Siddhartha Khemka (Head – Retail Research at Motilal Oswal)
Siddhartha attributed the Nifty’s decline to selling pressure in HDFC Bank and weak global cues. He noted a mixed trend across sectors, with Pharma, Oil & Gas, Realty, and PSU Bank showing buying interest. Global concerns were heightened by strong retail sales data in the U.S. and hawkish comments from US Fed speakers.
Nagaraj Shetti (Senior Technical Research Analyst at HDFC Securities)
Nagaraj expressed a bearish short-term outlook for Nifty, suggesting a potential pullback rally as a sell-on-rise opportunity. Important resistance levels to watch are at 21,700-21,800, with lower supports at 21,200-21,000.
Kunal Shah (Senior Technical & Derivative Analyst at LKP Securities)
Kunal highlighted the bears’ control over the Bank Nifty index, projecting a decline of 0.76%. The index’s immediate support lies at 45,500-45,400, and breaching this level could lead to a rebound towards 46,500. The broader trend continues to favor a “sell on the rise” approach.
Chinmay Barve (Head of Technical and Derivative Research at Profitmart Securities)
Chinmay provided insights into Nifty and Bank Nifty Call Put Option data, highlighting major open interest levels and additions.
Other Market Insights:
F&O Ban List:
Thirteen stocks, including ABRFL, Ashok Leyland, Balrampur Chini, and ZEEL, have been placed on the F&O ban list.
FII DII Data:
In the cash segment, FIIs sold Indian shares worth ₹9,901.56 crore, while DIIs bought shares worth ₹5,977.12 crore. In the F&O index future segment, FIIs and DIIs sold stocks worth ₹2,508.39 crore and ₹45,354.82 crore, respectively.
Nifty Call Put Option and Bank Nifty Call Put Option Data:
Chinmay Barve, Head of Technical and Derivative Research at Profitmart Securities, provided insights into Nifty and Bank Nifty Call Put Option data, highlighting major open interest levels and additions.
Day Trading Stock Recommendations:
Sumeet Bagadia (Executive Director at Choice Broking)
- MGL
- Buy at ₹1301.55
- Target: ₹1370
- Stop Loss: ₹1253
- Tata Motors
- Buy at ₹819
- Target: ₹860
- Stop Loss: ₹793
Ganesh Dongre (Senior Manager — Technical Research at Anand Rathi)
- Sun Pharma
- Buy at ₹1338
- Target: ₹1365
- Stop Loss: ₹1320
Drumil Vithlani (Technical Research Analyst at Bonanza Portfolio)
- Lupin
- Buy at ₹1422 to ₹1426
- Target: ₹3650
- Stop Loss: ₹1390
Shiju Koothupalakkal (Technical Analyst at Prabhudas Lilladher)
- HBL Power
- Buy at ₹478.60
- Target: ₹494
- Stop Loss: ₹472
- Suzlon Energy
- Buy at ₹42.90
- Target: ₹45
- Stop Loss: ₹41.50
These recommendations come from market experts Sumeet Bagadia, Ganesh Dongre, Drumil Vithlani, and Shiju Koothupalakkal. Investors are advised to carefully consider these suggestions in light of market conditions and their risk tolerance.
