Anil Singhvis Strategy December 11: Buy Metal Stocks on Dips; Sell Yes Bank Futures with Stop Loss 48
The domestic stock markets closed in a red on Tuesday, December 10, 2019, amid negative cues from global markets. The fall was backed by the correction because the investors chose to book profits. Sensex at Bombay stock exchange settled 247.55 points, or 0.61%, down at 40,239.88. Nifty 50 at National Stock Exchange also slipped 80.70 points, or 0.68%, to close at 11,856.80.
Amid neutral global markets, domestic institutional investor (DII) and futures & options (F&O) and negative foreign institutional investor (FII) cues, the short-term trend of the Indian share market will be neutral on Wednesday, December 11, 2019, while sentiment is cautious.
The domestic stock markets closed in a red on Tuesday, December 10, 2019, amid negative cues from global markets. The fall was backed by the correction because the investors chose to book profits. Sensex at Bombay stock exchange settled 247.55 points, or 0.61%, down at 40,239.88. Nifty 50 at National Stock Exchange also slipped 80.70 points, or 0.68%, to close at 11,856.80. Bank Nifty lost 156.30 points, or 0.50%, and settled at 31,160.35. Yes Bank (down 10.40%) was the biggest loser among Nifty stocks.
Zee Business's Managing Editor Anil Singhvi's Market Strategy for December 11:
The small day range for trading on Nifty is 11,800-11,900 while the medium and bigger range lies between 11,750-11,925 and 11,700-11,950 respectively.
The small day range for trading on Bank Nifty is 31,000-31,325 while the medium and bigger range lies between 30,850-31,425 and 30,750-31,600 respectively.
For Existing Long Positions:
Nifty intraday and closing stop loss 11,800.
Bank Nifty intraday and closing stop loss 31,000.
For Existing Short Positions:
Nifty intraday and closing stop loss 11,950.
Bank Nifty intraday and closing stop loss 31,350.
For New Positions:
Sell Nifty in 11,875-11,925 range with a stop loss of 12,000 and target 11,850, 11,800, 11,750.
Buy Nifty with a stop loss of 11,800 and target 11,880, 11,925, 11,950.
Sell Bank Nifty in 31,300-31,450 range with a stop loss of 31,550 and target 31,150, 31,000, 30,850.
Buy Bank Nifty with a stop loss of 31,000 and target 31,250, 31,325, 31,450.
The put-call ratio (PCR) is 1.17 and the volatility index (VIX) is 14.29.
Out of F&O Ban: Yes Bank
Sectors:
Positive: Metals buy on dips
Negative: Banks
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Stock of the Day:
Sell Yes Bank Futures: Stop loss 48 and target 45, 43, 40. No big developments on fundraising. Stock out of F&O Ban also today.
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