Anil Singhvi’s Strategy December 16: Market Trend & Sentiment are Positive; Sell Sun Pharma Futures with Stop Loss 444

Amid positive foreign institutional investors (FII), Domestic Institutional Investors (DIIs), sentiment and neutral global outlook and neutral Futures and Options (F&O) cues, the short-term trend of the Indian markets will remain positive on Monday, December 16, 2019. 

Domestic stocks on Friday, December 13, 2019, surged around one per cent amid positive cues from global markets. A last-minute US-China deal trade deal and a likely major election win by Britain’s Conservative Party cleared a couple of dark clouds from the global horizon. President Donald Trump signed off on a phase-one trade deal with China, averting December 15 introduction of a new wave of US tariffs on about 160 billion dollars of consumer goods. Sensex at Bombay stock exchange settled 428 points, or 1.05%, up above 41,000-mark at 41,009.71. Nifty at National Stock Exchange also climbed 114.90 points, or 0.96%, to close above 12,000 level, at 12,087. Bank Nifty rose 348.80 points, or 1.10%, to close at 32,014.25. 

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Zee Business's Managing Editor Anil Singhvi's Market Strategy for December 16: 

Strong Day support zone on Nifty 11,975-12,025 and Bank Nifty 31,750-31,900. 

The small day range for trading on Nifty 12,050-12,100 while the medium and bigger ranges lies between 12,000-12,150 and 11,975-12,200 respectively. 

The small day range for trading on Bank Nifty 31,900-32,150, while the medium and bigger ranges lies between 31,750-32,300 and 31,650-32,450. 

For Existing Long Positions: 

Nifty intraday and closing stop loss 11,975.

Bank Nifty intraday and closing stop loss 31,700. 

For Existing Short Positions: 

Nifty intraday and closing stop loss 12,160

BankNifty intraday and closing stop loss 32,160 

For New Positions: 

Buy Nifty in 12,000-12,050 range with a stop loss of 11,975 and target 12,100, 12,135, 12,150. 

Sell Nifty in 12,135-12,150 range only for aggressive traders with strict stop loss of 12,175 and target 12,100, 12,075, 12,025. 

Buy Bank Nifty in 31,750-31,800 range with a stop loss of 31,700 target 31,900, 32,100, 32,150. 

Sell Bank Nifty in 32,100-32,150 range only for aggressive traders with strict stop loss

SL 32,200 and target 32,000, 31,900, 31,750. 

PCR at 1.63 VIX 13.30 

Still in F&O Ban: Yes Bank 

Sectors:

Positive: Metals and Banks buy on dips, PSU, Pharma 

Stock of the Day: 

Sell Sun Pharma Futures: Stop loss 444 and target 428, 420, 410. 8 observations by USFDA at Halol plant.