Anil Singhvi’s Strategy December 13: Metals, Banks, Auto & PSUs are Positive; Buy Tata Steel Futures with Stop Loss 415
Earlier on Thursday, December 12, 2019, the domestic share markets ended with strong gains after multiple announcements by the Union Government lifted sentiments of the investors.
Amid positive global markets, domestic institutional investor (DII), sentiment, and neutral foreign institutional investor (FII) and futures & options (F&O) cues, the short-term trend of the Indian share market will be Positive on Friday, December 13, 2019.
Earlier on Thursday, December 12, 2019, the domestic share markets ended with strong gains after multiple announcements by the Union Government lifted sentiments of the investors. Yesterday, Sensex at Bombay stock exchange settled 169.14 points, or 0.42%, up at 40,581.71. Nifty at National Stock Exchange added 61.65 points, or 0.52%, to close at 11,971.80. Bank Nifty gained 408.70 points, or 1.31%, and settled at 31,665.45.
Zee Business's Managing Editor Anil Singhvi's Market Strategy for December 13:
Small day range for trading on Nifty is 11,950-12,000, while the medium and bigger range lies between 11,925-12,050 and 11,875-12,075 respectively.
Small day range for trading on Bank Nifty is 31,500-31,850 Small day range, while the medium and bigger range lies between 31,400-31,950 and 31,300-32,100 respectively.
For Existing Long Positions:
Nifty intraday and closing stop loss 11,925.
Bank Nifty intraday and closing stop loss 31,500.
For Existing Short Positions:
Nifty intraday and closing stop loss 12,000.
Bank Nifty intraday and closing stop loss 31,750.
For New Positions:
Buy Nifty with a stop loss of 11,925 and target 12,000, 12,050, 12,075.
Sell Nifty in 12,075-12,100 range with a stop loss of 12,160 and target 12,025, 12,000.
Buy Bank Nifty with a stop loss of 31,500 and target 31,850, 31,950, 32,100.
Sell Bank Nifty in 32,000-32,100 range with a stop loss of 32,160 and target 31,850, 31,750.
The put-call ratio (PCR) is 1.54 and the volatility index (VIX) is 13.35.
Still in F&O Ban: Yes Bank
Positive: Metals, Banks, Auto and PSU.
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Stock of the Day:
Buy Tata Steel Futures: Stop loss 415 and target 430, 435. Trade Deal may happen soon.
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