Anil Singhvi's Market Strategy December 19: OMCs, Paints & Aviation are Positive; Indigo & HPCL are stocks of the day
Benchmark indices, Sensex and Nifty, on Tuesday, December 18, 2018, closed with gains for the sixth session in a row.
Benchmark indices, Sensex and Nifty, on Tuesday, December 18, 2018, closed with gains for the sixth session in a row. The Sensex at the Bombay Stock Exchange climbed 77.01 points or 0.21 per cent to close at 36,347.08 and the Nifty 50 gained 158.90 points or 0.59 per cent to end at 10,908.70. Similarly, the Nifty Bank added 158.90 points or 0.59 per cent and closed at 27,174.70.
Amid positive global share markets, sentiments and neutral foreign institutional investors (FIIs), domestic institutional investors (DIIs) and future and option (F&O) cues, the short-term trend of Indian market will remain positive on Wednesday, December 19, 2018.
Zee Business's Managing Editor Anil Singhvi's Market Strategy for December 19:
10,900 and 27,050 are going to be the deciding levels on Nifty and Bank Nifty.
The small and medium trading range on Nifty lies between 10,850-10,950 and 10,825-11,000 respectively while the extreme range stands at 10,800-11,050.
In the case of the Bank Nifty, the small and medium trading range lies between the range of 27,050-27,250 and 26,900-27,350 respectively. The extreme range stands at 26,825-27,450.
Intraday strong support zone on Nifty and Bank Nifty lies between 10,825-10,850 and 26,900-27,050.
Traders are advised to reduce their positions if the two indices, Nifty and Bank Nifty closes below the mark of 10,800 and 26,800.
Buy and Sell strategy on Nifty
Buy Nifty with a stop loss of 10,825 and target of 10,950, 11,000, 11,050.
Sell Nifty in 11,050-11,075 range with a stop loss of 11,100 and target of 11,000.
Buy and Sell strategy on Bank Nifty
Buy Bank Nifty in 26825-26900 range with a stop loss of 27,000 and target of 27,250, 27,350, 27,450.
Sell Bank Nifty in 27,400-27,500 range with a stop loss of 27,550 and target of 27,300, 26,250.
Already in F&O ban: Adani Enterprises, Adani Power, Jet Airways, Reliance Capital
Sectors in focus:
Positive: OMCs, Paints, Aviation
The put-call ratio (PCR) stands at 1.59 and the volatility index (VIX) is 14.58.
Stock of the Day:
Weak crude and strong Rupee to benefit.
Buy Indigo Cash: Stop loss 1095 and target 1120, 1135.
Buy HPCL Cash: Stop loss 228 and target 240.
Buy Berger Paints Cash: Stop loss 323 and target 333, 338.
Buy MCX Futures: Stop loss 735 and target 755, 770. Commodities trading time extended.
Short Reliance Communication Cash: Stop loss 16.25 and target 14.50, 14.25, 13.75. DOT rejects RCom-JIO spectrum trading deal.