Amid positive global markets, foreign institutional investors (FIIs), sentiment, negative domestic institutional investors (DIIs) and futures & options (F&O) cues, the short-term trend of the Indian stock markets will be positive on Friday, December 18, 2020.  

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Benchmark domestic stocks on Thursday, December 17, 2020, continued their rally of setting fresh records as they gained around half per cent even as the global cues were mixed. The BSE Sensex closed near 46,900-mark and the Nifty settled around 13,750-level. 

The Sensex surged 223.88 points or 0.48 per cent to finish at 46,890.30 and the NSE Nifty 50 index climbed 58 points or 0.42 per cent to settle at 13,740.70. Bank Nifty gained 148.65 points or 0.48 per cent to close at 30,847.05.

On the other hand, the broader market at BSE fell marginally. The Mid-Cap index slipped 0.13 per cent while the Small-Cap index ended 0.23 per cent down.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for December 18: 

Day support zone on Nifty is 13,675-13,700, below that 13,550-13,600 is strong Buy zone.

Day higher zone on Nifty is 13,800-13,850. 

Day support zone on Bank Nifty is 30,500-30,600, below that 30,200-30,350 is strong Buy zone.

Day higher zone on Bank Nifty is 30,950-31,050, above that 31,175-31,300 is profit-booking zone.

Small Day Range for trading on Nifty is 13,700-13,800, while the medium and bigger ranges are 13,675-13,825 and 13,600-13,850, respectively.

Small Day Range for trading on Bank Nifty is 30,625-30,950, while the medium and bigger ranges are 30,500-31,050 and 30,350-31,200, respectively. 

FIIs decreased Index long to 69% Vs 73%.

PCR overbought at 1.89 Vs 1.74, Alert at higher levels.

VIX unchanged at 19.16.

For Existing Long Positions:

Nifty intraday stop loss is 13,670 and closing stop loss is 13,550.

Bank Nifty intraday and closing stop loss are 30,500.

For Existing Short Positions:

Nifty intraday and closing stop loss are 13,850.

Bank Nifty intraday and closing stop loss are 31,050.

For New Positions:

Buy Nifty with a stop loss of 13,600 and target 13,775, 13,800, 13,825, 13,850.

Sell Nifty in 13,825-13,875 range with a stop loss of 13,900 and target 13,775, 13,700, 13,675.

For New Positions:

Buy Bank Nifty in 30,500-30,600 range with a stop loss of 30,400 and target 30,750, 30,850, 30,925, 31,000, 31,050, 31,175. 

Sell Bank Nifty in 31,175-31,300 range with a stop loss of 31,400 and target 31,050, 30,950, 30,850, 30,750.

Aggressive Traders Sell Bank Nifty in 30,950-31,050 range with a stop loss of 31,200 and target 30,850, 30,750, 30,700, 30,625, 30,525. 

Sectors:

Positive: IT, Defence

F&O Ban Update: 

New in Ban: Sun TV

Already in Ban: Canara Bank, PNB

Out of Ban: Nil

See Zee Business Live TV Streaming Below:

Stock of the Day:

Buy Infosys Futures: stop loss 1150 and target 1175, 1190, 1200. Strong Results and guidance by Accenture.