Anil Singhvi’s Market Strategy December 17: OMCs to be in focus; Vedanta is Stock of the Day
Domestic Market, Sensex and Nifty, on Friday, December 14, 2018, closed in a green for the fourth straight session.
Domestic Market, Sensex and Nifty, on Friday, December 14, 2018, closed in a green for the fourth straight session. The Sensex at the Bombay Stock Exchange climbed 33.29 points to close at 35,962.93 and Nifty 50 at National Stock Exchange was also ended 13.90 points up at 10,805.45. Similarly, Nifty Bank rose by 9.65 points to close at 26,826.
Positive sentiments, foreign institutional investors (FIIs), neutral global markets, domestic institutional investors (DIIs) and future and option (F&O) cues suggest that the short-term trend of the Indian market will be positive on Monday, December 17, 2018.
Zee Business's Managing Editor Anil Singhvi's Market Strategy for December 17:
10,800 and 26,800 are going to be the deciding levels on Nifty and Bank Nifty.
The small trading range on Nifty stands at 10,750-10,825 while the medium and extreme ranges lie between the mark of 10,725-10,850 and 10,700-10,900 respectively.
In the case of Bank Nifty, the Small trading range stands at 26,700-26,900 while the medium and extreme ranges lie between the mark of 26,600-26,950 and 26,500-27,050.
Intraday support zone on the two indices, Nifty and Bank Nifty, lies at 10,725-10,750 and 26,675-26,725 respectively.
Profit booking range on the two indices lies at 10,900-10,925 and 27,000-27,050.
Traders are advised to reduce their buying positions if Nifty and Bank Nifty closes below the mark of 10,725 and 26.700.
Buy and Sell strategy on Nifty
Buy Nifty with a stop loss of 10,750 and target of 10,825, 10,850, 10,900.
Sell Nifty in 10,900-10,925 range with a stop loss of 10,950 and target of 10,850, 10,825.
Buy and Sell strategy on Bank Nifty
Buy Bank Nifty with a stop loss of 26,700 and target of 26,900, 27,000, 27,050.
Sell Bank Nifty in 26,950-27,050 range with a stop loss of 27,150 and target of 26,900, 26,800.
2 stocks enter in the ban: Jet Airways, Reliance Capital
2 already in F&O ban: Adani Enterprises, Adani Power
Sectors in focus:
OMCs buy on dips
The put-call ratio (PCR) stands at 1.53 and the volatility index (VIX) is 15.16.
Stock of the Day:
Buy Vedanta Futures: Stop loss 192 and target 202, 206. Vedanta gets NGT nod to reopen Sterlite copper plant in Tuticorin.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.