Anil Singhvi’s Market Strategy December 26: Metals are negative due to Global cues; Buy OMCs on Dips

At the stock markets, the Sensex at the Bombay Stock Exchange lost 271.92 points, or 0.76 per cent, to end at 35,470.15 on Monday, December 24, 2018. The Nifty 50 was down by 90.50 points, or 0.84 per cent to close at 10,663.50 and Nifty Bank also slipped 154.90 points, or 0.58 per cent, to 26,714.75.

The Nifty at the National Stock Exchange slipped 91 points, or 0.8 per cent, to 10,664. Amid negative global market, foreign institutional investors (FII), cautious sentiment, neutral domestic institutional investors (DIIs) and neutral future and option (F&O) cues, the short-term trend of the Indian market is going to be negative on Wednesday, December 26, 2018.

 Zee Business's Managing Editor Anil Singhvi's Market Strategy for December 26:

10,650 and 26,650 are going to be the deciding levels in Nifty and Bank Nifty. The small and medium trading range on Nifty lies between 10,600-10,700 and 10,550-10,725 while the extreme range stands at 10,500-10,775. The small and medium trading range on Bank Nifty lies between 26,650-26,850 and 26,500-26,950 while the extreme range stands at 26,400-27,000.

Next important support zone on Nifty and Bank Nifty lies between 10,500-10,525 and 26,400-26,500 respectively. Traders can go for a short cover if the two indices, Nifty and Bank Nifty, close above the mark of 10,800 and 27,000 respectively.

Watch this Zee Business video here:
 

अमेरिका में कमज़ोरी की क्या है मुख्य वजह, क्या महंगे शेयरों में अब सावधानी बरतने की है ज़रुरत समझिए #EditorsTake में अनिल सिंघवी से।@AnilSinghviZEE @dkalra81 pic.twitter.com/x8dRuM1TKS

— Zee Business (@ZeeBusiness) December 26, 2018

Sell and Buy Strategy on Nifty
Sell Nifty with a stop loss of 10,700 and target of 10,600 10,550, 10,525.
Buy Nifty in 10,500-10,550 range with a stop loss of 10,500 and target of 10,600, 10,650.
 

#CrudeCheck | #Brent सोमवार को 6.2% गिरकर $50.5 के नीचे, अक्टूबर की ऊंचाई से WTI 45%, ब्रेंट 42% नीचे रहा, ग्लोबल सप्लाई बढ़ने से 2019 में क्रूड की मांग में धीमेपन की आशंका। pic.twitter.com/SSBGVaq137

— Zee Business (@ZeeBusiness) December 26, 2018

Sell and Buy Strategy on Nifty Bank
Sell Bank Nifty with a stop loss of 26,900 and target of 26,650, 26,500, 26,400.
Buy Bank Nifty in 26400-26500 range with a stop loss of 26,350 and target 26,650.

#AsianMarketUpdate | कल 5% तक गिरने के बाद आज #AsianMarkets की मिलीजुली शुरुआत, हांगकांग, यूरोप के बाज़ार आज रहेंगे बंद, #SGXNifty में मामूली बढ़त, 10,630 के करीब। pic.twitter.com/ebTmMiwswU

— Zee Business (@ZeeBusiness) December 26, 2018

Out of F&O ban: Jet Airways.
2 Already in Ban: Adani Enterprises, Adani Power

#USMarketUpdate | अमेरिका के बाज़ार सोमवार को 3% की गिरावट के साथ हुए बंद, #Dow करीब 650 प्वाइंट गिरकर हुआ बंद।#USMarkets #Nasdaq pic.twitter.com/DwG0oUmKcl

— Zee Business (@ZeeBusiness) December 26, 2018

Sectors in focus:
Negative: Metals: Weak due to global cues
Positive: OMC: Buy on dips
The put-call ratio (PCR) stands at 1.26 and the volatility index (VIX) is 15.75.

Stock of the Day:
Sell HUL Futures: Stop loss 1795 and target 1755, 1735. GST authority has imposed Rs383 crores penalty on the company.
Sell Adani Enterprises futures: Stop loss 162 and target 155, 152, 150.  Insurance company’s refused to give coverage for Carmichael mines.