Anil Singhvi’s Market Strategy December 18: Market is Positive; OMCs will remain in focus
Domestic markets, Sensex and Nifty, on Monday, December 17, 2018, closed with gains for the fifth session in a row amid positive Asian share markets. The S&P BSE Sensex closed at 36,270.07 after going up by 307.14 points or 0.85 per cent while Nifty 50 appreciated 82.90 points or 0.77 per cent to close at 10,888.35.
Nifty Bank also added 189.80 points or 0.71 per cent to close at 27,015.80.
Amid neutral global market, foreign institutional investors (FIIs), domestic institutional investors (DIIs) and future and option (F&O) and cautious sentiment cues, the short-term trend of Indian market will continue to be positive on Tuesday, December 18, 2018.
Zee Business's Managing Editor Anil Singhvi's Market Strategy for December 18:
10,850 and 26,900 are going to be the deciding level on Nifty and Bank Nifty.
The small trading range on Nifty stands at the mark of 10,840-10,900 while the medium and extreme ranges lie between 10,800-10,950 and 10,750-11,000 respectively.
In the case of the Bank Nifty, the small trading range on Nifty stands at the mark of 26,900-27,050 while the medium and extreme ranges lie between 26,825-27,150 and 26,700-27,250 respectively.
Intraday support zone on Nifty and Bank Nifty lies between 10,820-10,840 and 26,825-26,900.
Traders are advised to reduce their positions on the two indices if they close below the mark of 10,775 and 26,800.
Buy and Sell strategy on Nifty
Buy Nifty with a stop loss of 10,800 and target of 10950, 10975, 11000
Sell Nifty in 10,975-11,000 range with a stop loss of 11,050 and target of 10,950, 10,900.
Buy and Sell strategy on Bank Nifty
Buy Bank Nifty in 26,825-26900 range with a stop loss of 26,700 and target of 27,000, 27,050, 27,150.
Sell Bank Nifty in 27,150-27,200 range with a stop loss of 27,250 and target of 27,050, 26,950.
Already in F&O ban: Adani Enterprises, Adani Power, Jet Airways, Reliance Capital
Sectors in focus:
OMCs buy on Dips
The put-call ratio (PCR) stands at 1.61 and the volatility index (VIX) is 14.54.