Amid neutral global markets, futures & options (F&O), positive foreign institutional investors (FIIs), sentiment and negative domestic institutional investors (DIIs) cues, the short-term trend of the Indian stock markets will be positive on Monday, December 21, 2020.  

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Key equity indices ended with small gains on Friday, December 18, 2020. As per provisional closing data, the S&P BSE Sensex rose 70.35 points or 0.15% to 46,960.69. The Nifty 50 index added 19.85 points or 0.14% at 13,760.55. Bank Nifty fell 132.40 points or 0.43 per cent to close down at 30,714.65.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for December 21: 

Day support zone on Nifty is 13,650-13,675, below that 13,550-13,600 is strong Buy zone. 

Day higher zone on Nifty is 13,775-13,850. 

Day support zone on Bank Nifty is 30,325-30,375, below that 30,050-30,200 is strong Buy zone.

Day higher zone on Bank Nifty is 30,850-30,950, above that 31,050-31,200 is profit-booking zone.

Small Day Range for trading on Nifty is 13,675-13,775, while the medium and bigger ranges are 13,650-13,800 and 13,600-13,850, respectively.

Small Day Range for trading on Bank Nifty is 30,500-30,850, while the medium and bigger ranges are 30,350-30,950 and 30,200-31,050, respectively.

FIIs decreased Index long to 68% Vs 69%.

PCR reduced to 1.62 Vs 1.89, VIX down by 3% at 18.62.

For Existing Long Positions:

Nifty intraday and closing stop loss are 13,650.

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

For Existing Short Positions:

Nifty intraday and closing stop loss are 13,800.

Bank Nifty intraday and closing stop loss are 31,000.

For New Positions:

Buy Nifty in 13,600-13,675 range with a stop loss of 13,550 and target 13,700, 13,750, 13,775, 13,800, 13,850.

Sell Nifty with a stop loss of 13,800 and target 13,675, 13,650, 13,600.

For New Positions:

Buy Bank Nifty in 30,325-30,375 range with a stop loss of 30,200 and target 30,500, 30,600, 30,700, 30,850, 30,925. 

Sell Bank Nifty with a stop loss of 31,000 and target 30,525, 30,375, 30,325, 30,200.

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F&O Ban Update: 

New in Ban: Sail

Already in Ban: Canara Bank, PNB, Sun TV

Out of Ban: Nil

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Valuations reasonable

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