Anil Singhvi’s Market Strategy December 28: Jai Corp is Stock of the Day; Banks to be in focus

Bulls supported the domestic market throughout the session, on the day of expiry of the December futures and options contracts, on Thursday, December 27, 2018.  On the day, the S&P BSE Sensex rose 157.34 points, or 0.44 per cent, to close at 35,807.28 while Nifty 50 climbed 49.95 points, or 0.47 per cent, to end at 10,779.80. 

However, Nifty Bank was down by 108.25 points, or 0.40 per cent, to close at 26,878.55. Adani Ports (+2.24%) and Tech Mahindra (+2.21%) were the highest gainers of the day while BPCL (-2.01%) and Tata Motors (-1.67%) were the major losers. 

Amid positive global market, sentiments and foreign institutional investors (FII), neutral future and option (F&O) and negative domestic institutional investors (DIIs) cues, the short-term trend of the Indian market is going to be neutral on Friday, December 28, 2018.

Zee Business's Managing Editor Anil Singhvi's Market Strategy for December 28: 

10,800 and 27,000 are going to be the deciding levels on Nifty and Bank Nifty. 
10,750-10,825 is going to be the small trading range on Nifty while the medium and extreme ranges lie between 10,725-10,875 and 10,650-10,950 respectively.
26,850-27,000 is the small trading range on Bank Nifty while medium and extreme ranges lie between 26,700-27,150 and 26,550-27,250 respectively.
Traders can go for fresh buying if the two indices, Nifty and Bank Nifty, closed above the mark of 10,800 and 27,000. 

Watch this Zee Business video here:
 

#EditorsTake | सरकार को अप्रेल-नवबंर 2018 के बीच हुआ 7.17 लाख करोड़ का वित्तीय घाटा , क्या असर होगा इसका बाज़ार पर जानिए अनिल सिंघवी से। @AnilSinghviZEE @dkalra81 pic.twitter.com/wDojiuguqa

— Zee Business (@ZeeBusiness) December 28, 2018

Buy and Sell Strategy on Nifty 

Buy Nifty with a stop loss of 10,725 and target of 10,825, 10,875, 10,925. 
Sell Nifty in 10,875-10,925 range with a stop loss of 10,975 and target of 10,825, 10,800. 

Buy and Sell Strategy on Bank Nifty 

Buy Bank Nifty in 26725-26850 range with a stop loss of 26,650 and target of 26,950, 27,050, 27,150. 
Sell Bank Nifty in 27,150-27,250 range with a stop loss of 27,400 and target of 27,050, 26,900. 

Sectors in focus: Banks make or break on Fiscal Deficit number.

The put-call ratio (PCR) stands at 1.54 and the volatility index (VIX) is 16.07.

Stock of the Day:

Buy Jai Corp: Stop loss 108 and target 113, 117