Anil Singhvi’s Strategy December 18: Aluminium stocks & Telecom are Positive; FMCG sector is Negative

Amid positive foreign institutional investors (FII) and sentiment, neutral global markets, cautious futures and options (F&O) and negative domestic institutional investors (DIIs) cues, the short-term trend of the Indian markets will remain positive on Tuesday, December 17, 2019.

The markets closed on a strongly positive note on Tuesday, December 17, 2109, with Nifty and Sensex touching their all-time highs at 12,180 and 41,400 respectively. Key benchmarks climbed amid positive Asian equity markets. Sensex at Bombay stock exchange climbed 413.45 points, or 1.01%, to 41,352.17. Nifty at National Stock Exchange also gained 111.05 points, or 0.92%, to close at 12,165, while Bank Nifty rose 166.05 points, or 0.51%, to settle at 32,140.25. Bank Nifty index also hit a record high of 32,213.35 in intraday trade. Tata Steel was the top gainer of the day up by 4.64% while Bharti Airtel and Vedanta were up by 4.54% and 3.36% respectively.

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

Strong day support zone on Nifty is 12,050-12,075 and Bank Nifty is 31,900-32,000.

The small day range for trading on Nifty stands at 12,135-12,185, while the medium and bigger ranges lie between 12,100-12,200 and 12,050-12,250 respectively.

The small day range for trading on Bank Nifty stands at 32,000-32,200, while the medium and bigger ranges lie between 31,900-32,300 and 31,750-32,450 respectively.

For Existing Long Positions:

Nifty intraday and closing stop loss 12,050.

Bank Nifty intraday and closing stop loss 31,900.

For Existing Short Positions:

Nifty intraday and closing stop loss 12,200.

Bank Nifty intraday and closing stop loss 32,250.

For New Positions:

Buy Nifty in 12,100-12,135 range with a stop loss of 12,050 and target 12,175, 12,200, 12,250.

Sell Nifty in 12,180-12,250 range with a stop loss of 12,300 and target 12,135, 12,100, 12,050.

Buy Bank Nifty in 31,800-32,000 range with a stop loss of 31,700 and target 32,150, 32,200, 32,250.

Sell Bank Nifty only for aggressive traders with a strict stop loss of 32,250 and target 32,000, 31,900, 31,800.

The put-call ratio (PCR) is 1.62 and the volatility index (VIX) is 12.52.

Still in F&O Ban: Yes Bank

Sectors:

Positive: Aluminium stocks, Telecom

Negative: FMCG

IPO Preview:

Prince Pipes: Avoid, Not Attractive.

Stock of the Day:

Buy Hindalco Futures: Stop loss 210 and target 218, 220. Aluminium stocks looking very strong.