Anil Singhvi’s Strategy December 12: Gas Stocks are Positive; Buy Cadila Futures with Stop Loss 259
The benchmark indices ended higher after a roller-coaster session on Wednesday, December 11, 2019. Sensex at Bombay stock exchange settled 172.69 points, or 0.43%, up at 40,412.57. Nifty at National Stock Exchange also added 53.35 points, or 0.45%, to close at 11,910.15.
Amid neutral global markets, foreign institutional investor (FII), domestic institutional investor (DII) and futures & options (F&O) cues, the short-term trend of the Indian share market will be neutral on Thursday, December 12, 2019, while sentiment is cautious.
The benchmark indices ended higher after a roller-coaster session on Wednesday, December 11, 2019. Sensex at Bombay stock exchange settled 172.69 points, or 0.43%, up at 40,412.57. Nifty at National Stock Exchange also added 53.35 points, or 0.45%, to close at 11,910.15. Bank Nifty gained 96.40 points, or 0.31%, and settled at 31,256.75. GAIL (up 5.31) was the biggest gainer among Nifty stocks and was followed by ZEEL, NTPC, IOC and ONGC.
Zee Business's Managing Editor Anil Singhvi's Market Strategy for December 12:
Small day range for trading on Nifty is 11,875-11,950. The medium and bigger range lies between 11,850-11,975 and 11,800-12,000 respectively.
Small day range for trading on Bank Nifty is 31,125-31,350. The medium and bigger range lies between 31,000-31,425 and 30,750-31,600 respectively.
For Existing Long Positions:
Nifty intraday and closing stop loss 11,825.
Bank Nifty intraday and closing stop loss 31,000.
For Existing Short Positions:
Nifty intraday and closing stop loss 12,000.
Bank Nifty intraday and closing stop loss 31,400.
For New Positions:
Sell Nifty in 11,950-12,000 range with a stop loss of 12,050 and target 11,900, 11,875.
Buy Nifty in 11,825-11,850 range with a stop loss of 11,800 and target 11,875, 11,900, 11,925.
Sell Bank Nifty in 31,350-31,500 range with a stop loss of 31,600 and target 31,250, 31,150, 31,000.
Buy Bank Nifty near 31,000 with a stop loss of 30,950 and target 31,125, 31,250, 31,325.
The put-call ratio (PCR) is 1.49 and the volatility index (VIX) is 13.38.
Enters F&O Ban: Yes Bank
Positive: Gas stocks, Metals buy on dips
Negative: Bank. Sell on a rise.
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Ujjivan Small Finance Bank: Expect to list around 52-58 range. Keep stop loss of Rs48. Rs60-65 good level to book profit.
Stock of the Day:
Buy Cadila Futures: Stop loss 259 and target 265, 270. Diabetes drug launched is positive.
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