Anil Singhvis Strategy December 26: Market Trend and Sentiment is Positive; Buy D-Mart Cash with Stop Loss 1890
On account of strong global sentiments, neutral FIIs, DIIs and F&O, the short-term trend of the Indian stock markets will remain positive on Thursday, says Zee Business Managing Editor Anil Singhvi.
Amid positive sentiment, neutral global markets, foreign institutional investors (FII), domestic institutional investors (DIIs) and futures and options (F&O) cues, the short-term trend of the Indian stock markets will remain positive Thursday, December 26, 2019.
Equity benchmarks on Tuesday, December 24, 2019, closed with marginal losses for the second session in a row. Sensex and Nifty, both, lost around 0.4 per cent amid mixed cues from global markets. Sensex at Bombay stock exchange fell 181.40 points, or 0.44%, to close at 41,461.26. Nifty at National Stock Exchange also slipped 48.20 points, or 0.41%, to settle at 12,214.55. Similarly, Bank Nifty lost 48.95 points, or 0.15%, to close at 32,290.50.
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Zee Business's Managing Editor Anil Singhvi's Market Strategy for December 26:
Strong day support zone on Nifty is 12,135-12,165 and Bank Nifty is 32,100-32,200.
The small day range for trading on Nifty stands at 12,190-12,225, while the medium and bigger ranges lie between 12,165-12,260 and 12,135-12,290.
The small day range for trading on Bank Nifty stands at 32,200-32,350, while the medium and bigger ranges lie between 32,100-32,450 and 32,025-32,500.
For Existing Long Positions:
Nifty intraday and closing stop loss 12,190.
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 32,500.
For New Positions:
Buy Nifty in 12,165-12,180 range with a stop loss of 12,125 and target 12,215, 12,260, 12,275.
Sell Nifty near 12,250-12,275 range with a stop loss of 12,300 and target 12,220, 12,200.
Buy Bank Nifty in 32,100-32,200 range with a stop loss of 32,000 and target 32,250, 32,350, 32,450.
Sell Bank Nifty in 32,400-32,450 range with a stop loss of 32,500 and target 32,350, 32,250, 32,200.
Still in F&O Ban: Dish TV
Put-Call Ratio (PCR) 1.48, the volatility index (VIX) very low at 11.63, Volatility may increase.
Stock of the Day:
Buy D-Mart Cash: Stop loss 1890 and target 1920, 1935. Retail stocks looking strong.
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