Anil Singhvi’s Strategy December 19: Market Trend is Positive; Sell Tata Motors Futures with a Stop Loss of 176
On account of positive FIIs, negative DIIs and F&O, the short-term trend of the Indian markets will remain positive, says Zee Business Managing Editor Anil Singhvi.
Amid positive foreign institutional investors (FII) and sentiment, negative global markets, domestic institutional investors (DIIs) and cautious futures and options (F&O) cues, the short-term trend of the Indian markets will remain positive on Thursday, December 19, 2019.
The stocks markets closed at record high levels for the second session in a row on Wednesday, December 18, 2019. Strong inflows from foreign institutional investors (FIIs) in the past few sessions improved trading sentiment.
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Sensex at Bombay stock exchange jumped 206.40 points, or 0.50%, to settle at a record high at 41,558.57. Nifty at National Stock Exchange also climbed 56.65 points, or 0.47%, to end with a fresh closing high at 12,221.65. Bank Nifty rose by 120.65 points, or 0.38%, to close at 32,260.90. M&M was the top gainer of the day up by 3.59% while Sun Pharma and JSW Steel were up by 2.51% and 2.07% respectively.
Zee Business's Managing Editor Anil Singhvi's Market Strategy for December 19:
Strong day support zone for trading on Nifty is 12,125-12,175 and on Bank Nifty 31,900-32,000.
The small day range for trading on Nifty stands at 12,200-12,250, while the medium and bigger ranges lie between 12,165-12,275 and 12,125-12,300 respectively.
The small day range for trading on Bank Nifty stands at 32,150-32,300, while the medium and bigger ranges lie between 32,000-32,400 and 31,900-32,500 respectively.
The put-call ratio (PCR) 1.73, alert at higher levels volatility index (VIX) 12.34
For Existing Long Positions:
Nifty intraday and closing stop loss 12,050.
Bank Nifty intraday and closing stop loss 32,000.
For Existing Short Positions:
Nifty intraday and closing stop loss 12,250.
Bank Nifty intraday and closing stop loss 32,300.
For New Positions:
Buy Nifty in 12,125-12,175 range with a stop loss of 12,100 and target 12,200, 12,225, 12,250.
Sell Nifty with a stop loss of 12,300 and target 12,200, 12,175, 12,125.
Buy Bank Nifty in 31,900-32,000 range with a stop loss of 31,800 and target 32,150, 32,200, 32,350.
Sell Bank Nifty with a stop loss of 32,300 and target 32,150, 32,025, 31,900.
Still in F&O Ban: Yes Bank
Stock of the Day:
Sell Tata Motors Futures: Stop loss 176 and target 170, 167. Tata group developments are negative for the stock.
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