Amid positive foreign institutional investors (FII) and sentiment, neutral global markets and futures and options (F&O) and negative domestic institutional investors (DIIs) cues, the short-term trend of the Indian markets will remain positive Tuesday, December 24, 2019.

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Key benchmark indices snapped four-day rising streak on Monday, December 23, 2019. Sensex and Nifty, both, lost around 0.1 per cent amid mixed cues from global markets. Sensex at Bombay stock exchange fell 38.88 points, or 0.09%, to close at 41,642.66. Nifty at National Stock Exchange also slipped 9.05 points, or 0.05%, to settle at 12,262.75. Bank Nifty was down by 45.50 points, or 0.17%, to 32,339.45. 

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Zee Business's Managing Editor Anil Singhvi's Market Strategy for December 24:

Strong day support zone on Nifty is 12,175-12,225 and Bank Nifty is 32,200-32,250. 

The small day range for trading on Nifty stands at 12,225-12,300, while the medium and bigger range lies between 12,200-12,350 and 12,165-12,400 respectively. 

The small day range for trading on Bank Nifty stands at 32,250-32,450, while the medium and bigger range lies between 32,200-32,500 and 32,100-32,650 respectively. 

For Existing Long Positions:

Nifty intraday and closing stop loss 12,200. 

Bank Nifty intraday and closing stop loss 32,200. 

For Existing Short Positions:

Nifty intraday and closing stop loss 12,300. 

Bank Nifty intraday and closing stop loss 32550

For New Positions:

Buy Nifty in 12,000-12,225 range with a stop loss of 12,150 and target 12,250, 12,275, 12,300. 

Sell Nifty near 12,285-12,300 range with a stop loss of 12,325 and target 12,250, 12,225. 

Buy Bank Nifty in 32,200-32,250 range with a stop loss of 32,100 and target 32,350, 32,450, 32,500. 

Sell Bank Nifty in 32,450-32,500 range with a stop loss of 32,550 and target 32,400, 32,350, 32,250. 

Put-Call Ratio (PCR) 1.66, the volatility index (VIX) very low at 11.96, Volatility may increase. 

Stock of the Day:

Sell Sun Pharma Futures: Stop loss 432 and target 422, 418. Weak stock, Macquarie reduced the target to 418.