Anil Singhvi’s Market Strategy December 13: Banks & NBFC are Positive; IOC & MTNL are Stocks of the Day

Positive sentiments, global markets, and domestic institutional investors (DIIs), neutral future and option (F&O) and negative foreign institutional investors (FIIs) cues suggest that the short-term trend of the Indian markets will be positive on Thursday, December 13, 2018. 

Anil Singhvi’s Market Strategy December 13: Banks & NBFC are Positive; IOC & MTNL are Stocks of the Day
Traders are advised to reduce their buying positions if Nifty and Bank Nifty will close below the mark of 10,550 and 26,300. Image source: Zee Business
Written By: ZeeBiz WebTeam
Updated: Thu, Dec 13, 2018
09:17 am
Mumbai, ZeeBiz WebDesk
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Benchmark domestic markets logged robust gains on Wednesday, December 12, 2018. Rising for the second day in a row, the key stocks, Sensex and Nifty, both, gained around 1.8 per cent amid positive global share markets. 

The S&P BSE Sensex climbed 629.06 points (1.79%) to close at 35,779.07 while the Nifty 50 also ended 188.45 points (1.79%) up at 10,737.60. Similarly, Nifty Bank soared 480.456 (1.84%) to close at 26,643.85. 

Bharti Airtel (7.15%) and Indiabulls Housing Finance Limited (6.91%) were the top gainers of the day while Dr Reddy’s (-4.38%) was the top loser of the day. 

Positive sentiments, global markets, and domestic institutional investors (DIIs), neutral future and option (F&O) and negative foreign institutional investors (FIIs) cues suggest that the short-term trend of the Indian markets will be positive on Thursday, December 13, 2018. 

Zee Business's Managing Editor Anil Singhvi's Market Strategy for December 13:
• 10,700 and 26,600 are the deciding level on Nifty and BankNifty respectively. 
• The small and medium trading range on Nifty lies between 10,700-10,800 and 10,650-10,825. The extreme range stands between 10,600-10,875
• In the case of BankNifty, the small and medium trading range lies between 26,600-26,750 and 26,500-26,850. The extreme range stands at 26,350-26,950. 
• Traders are advised to reduce their buying positions if Nifty and Bank Nifty will close below the mark of 10,550 and 26,300. 

 

Watch this Zee Business video

Buy and Sell strategy on Nifty 
Buy Nifty with a stop loss of 10,675 and target of 10,775, 10,825 and 10,875. 
Sell Nifty in the range of 10,875-10,900 with a stop loss of 10,950 and target 10,825, 10,800. 

Buy and Sell strategy on Bank Nifty 
Buy Bank Nifty with a stop loss of 26,500 and target of 26,750, 26,850, 26,950.
Sell Bank Nifty in the range of 26,900-22,700 with a stop loss of 27,050 and target of 26,800, 26,700.
2 stocks already in F&O ban: Adani Enterprises, Adani Power

Sectors: 
Positive: Banks, NBFC
The put-call ratio (PCR) stands at 1.47 and the volatility index (VIX) is 15.81. 

Watch this Zee Business video

Stock of the Day:
Buy IOC Futures: Stop loss 132 and target 140, 142, 145. Board Meet on buyback and dividend. 
Buy Yes Bank Futures: Stop loss 180 and target 192, 195, 200. Board Meet to select new CMD. 
Buy MTNL: Stop loss 13.25 and target 14.75, 15, 15.6. Revival plan was given to Dot.