Anil Singhvi’s Market Strategy December 27: PSBs & NBFCs are Positive; Bank of India is Stock of the Day
Snapping a three-day losing streak, the domestic markets, Sensex and Nifty, on Wednesday, December 26, 2018, closed with sharp gains.
Snapping a three-day losing streak, the domestic markets, Sensex and Nifty, on Wednesday, December 26, 2018, closed with sharp gains. The 30-share S&P BSE Sensex climbed 179.79 points, or 0.51 per cent to end at 35,649.94 and the Nifty 50 went up by 66.35 points, or 0.62 per cent to close at 10,729.85.
Similarly, Nifty Bank also recovered 272.05 points, or 1.02 per cent to close at 26,986.80.
Zee Entertainment (ZEEL) (4.25%), Adani Ports (4.13%) and Bharti Airtel (4.01%) were the top gainers of the day. Amid positive global market and sentiments, neutral domestic institutional investors (DIIs) and future and option (F&O) and negative foreign institutional investors (FII) cues, the short-term trend of the Indian market is going to be neutral on December 27, 2018.
Zee Business's Managing Editor Anil Singhvi's Market Strategy for December 27:
10,700 and 27,000 are going to be the deciding levels on Nifty and Bank Nifty.
10,725-10,800 is going to be the small trading range on Nifty, while 10,700-10,825 and 10,650-10,875 are going to be the medium and extreme ranges respectively.
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In the case of the Bank Nifty, the small trading range rests at 27,050-27,150, while the medium and extreme ranges lie between 26,950-27,250 and 26,850-27,350 respectively.
Next important upper zone on the two indices, Nifty and Bank Nifty, lies between 10,850-10,900 and 27,350-27,400.
Traders can increase their buying positions if the two indices close above the mark of 10,800 and 27,100.
Buy and Sell Strategy on Nifty
Buy Nifty with a stop loss of 10,725 and target of 10,800, 10,825, 10,850.
Sell Nifty in 10,850-10,875 range with a stop loss of 10,900 and target of 10,800.
Buy and Sell Strategy on Bank Nifty
Buy Bank Nifty with a stop loss of 26,950 and target of 27,150, 27,250, 27,350.
Sell Bank Nifty in 27300-27400 range with a stop loss of 27,500 and target of 27,250, 27,150.
Out of F&O ban: Adani Enterprises
Already in Ban: Adani Power
Sectors in focus:
Positive: PSU Banks, NBFC
The put-call ratio (PCR) stands at 1.39 and the volatility index (VIX) is 15.92.
Stock of the Day:
Buy Bank of India Futures: Stop loss 98 and target 103. BOI to get Rs10,000 Crore additional capital.