Amid neutral global markets, futures & options (F&O), positive foreign institutional investors (FIIs), sentiment and negative domestic institutional investors (DIIs) cues, the short-term trend of the Indian stock markets will be positive on Tuesday, December 15, 2020.
Key domestic indices logged modest gains amid mixed global cues on Monday, December 14, 2020. The BSE Sensex and NSE Nifty both hit fresh lifetime highs, extending previous sessions’ gains. Sensex climbed 154.45 points or 0.34 per cent to settle at 46,253.46. The NSE Nifty 50 index also added 44.30 points or 0.33 per cent to settle at 13,558.15. Bank Nifty gained 141.05 points or 0.46 per cent to close at 30,745.90
The broader market at BSE also gained outperforming the Sensex. The BSE Mid-Cap index rose 0.79 per cent while the BSE Small-Cap index ended 0.74 per cent up.
Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for December 15:
Day support zone on Nifty is 13,450-13,475, below that 13,350-13,400 is strong buy zone, and day higher zone is 13,600-13,650.
Day support zone on Bank Nifty is 30,500-30,600, below that 30,200-30,325 is strong buy zone.
Day higher zone on Bank Nifty is 30,750-30,850, above that 31,000-31,200 is profit-booking zone.
Small Day Range for trading on Nifty is 13,475-13,550, while the medium and bigger ranges are 13,450-13,600 and 13,400-13,650, respectively.
Small Day Range for trading on Bank Nifty is 30,500-30,850, while the medium and bigger ranges are 30,325-30,950 and 30,200-31,050, respectively.
FIIs reduced Index long to 72% Vs 77%.
PCR at 1.47 Vs 1.52.
VIX 3% up at 19.40.
For Existing Long Positions:
Nifty Intraday stop loss is 13,475 and closing stop loss is 13,400.
Bank Nifty intraday and closing stop loss are 30,500.
For Existing Short Positions:
Nifty intraday and closing stop loss are 13,600.
Bank Nifty intraday and closing stop loss are 30,850.
For New Positions:
Buy Nifty in 13,450-13,500 range with a stop loss of 13,400 and target 13,525, 13,550, 13,600, 13,650.
Sell Nifty in 13,600-13,650 range with a stop loss of 13,700 and target 13,550, 13,525, 13,500, 13,475.
For New Positions:
Buy Bank Nifty in 30,200-30,325 range with a stop loss of 30,000 and target 30,425, 30,500, 30,600, 30,700.
Aggressive Traders buy Bank Nifty in 30,500-30,600 range with strict stop loss of 30,400 and target 30,700, 30,750, 30,825, 30,950.
Aggressive Traders Sell Bank Nifty in 30,825-30,925 range with a stop loss of 31,050 and target 30,750, 30,625, 30,525, 30,375.
F&O Ban Update:
No Fresh entry or exit from Ban
2 Stocks Already in Ban: PNB, Canara Bank
See Zee Business Live TV Streaming Below:
Mrs Bectors IPO Preview:
Positive: Reasonable Valuations. Strong Anchor Book. Strong Promoters Background.
Negative: Slow Growth, short-term investors apply for listing gains and good for Long-term investors also.