Anil Singhvi’s Market Strategy December 10: Market is Neutral; Metals, Banks, NBFC & Aviation are Negative

Domestic stocks on Friday, December 7, 2018, bounced back to close with more than one per cent gain recovering losses of last three sessions. 

Amid mixed global markets, the Sensex at the Bombay Stock Exchange (BSE) climbed 361.12 points, or 1.02 per cent to settle at 35,673.25 while Nifty 50 also jumped 92.55 points or 0.87 per cent to close at 10,693.70. 

Similarly, Nifty Bank went up 396.00 points or 1.51 per cent to close at 26,594.30. 

Negative global market and sentiments, neutral future and option (F&O), domestic institutional investors (DIIs) and foreign institutional investors (FIIs) cues suggest that the short-term trend of the Indian market will be neutral on December 10, 2018. 

Zee Business's Managing Editor Anil Singhvi's Market Strategy for December 10: 
• 10,600 and 26,350 are going to be the deciding levels on Nifty and BankNifty respectively. 
• The small trading range on Nifty stands at 10,600-10,650 while the medium and extreme ranges lie between 10,550-10,675 and 10,500-10,700 respectively. 
• In the case of the Bank Nifty, the small trading range stands at 26,250-26,400 while the medium and extreme ranges lie between 26150-26500 and 26050-26600 respectively.
• The next support zone on the two indices, Nifty and Bank Nifty, lies at 10,500-10,525 and 26,050-26,150. 
• Strong selling zone on the two indices, Nifty and Bank Nifty, lies at the mark of 10,700-10,725 and 26500-26650. 
• Traders are advised to close their buying positions on Nifty and Bank Nifty if they close below the mark of 10,600 and 26,200. 
• Short coverage will be visible on Nifty and Bank Nifty if they stay above the mark of 10,725 and 26,650. 

Selling strategy on Nifty and Bank Nifty 
• Sell Nifty with a stop loss of 10,700 and target of 10,600, 10,550 and 10,525. 
• Sell Bank Nifty with a stop loss of 26,650 and target of 26,350, 26,250 and 26,050. 

No stock in F&O ban
Sectors:
Negative: Metals, Banks, NBFC, Aviation
The put-call ratio (PCR) stands at 1.48 and the volatility index (VIX) is 18.60.

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— Zee Business (@ZeeBusiness) December 10, 2018

Stock of the Day:
• Sell Adani Power Futures: Stop loss 53.50 and target 50, 48.
• Sell IBull Housing Futures: Stop loss 740 and target 700, 685.
• Sell DHFL Futures: Stop loss 212 and target 192, 186. 
• Sell Hindalco Futures: Stop loss 223 and target 212, 210
• Sell Jet Air Futures: Stop loss 280 and target 270, 265, 255.