Equity benchmarks on Friday, December 27, 2019, snapped losing streak of three sessions. Sensex and Nifty, both, gained around one per cent amid positive cues from global markets. Coal India (up 3.50%), Axis Bank (up 3.31%), BPCL (up 2.67%) and SBI (up 2.23%) were the major gainers of the day on Nifty 50.
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Equity benchmarks on Friday, December 27, 2019, snapped losing streak of three sessions. Sensex and Nifty, both, gained around one per cent amid positive cues from global markets. Coal India (up 3.50%), Axis Bank (up 3.31%), BPCL (up 2.67%) and SBI (up 2.23%) were the major gainers of the day on Nifty 50. Sensex at Bombay stock exchange climbed 411.38 points, or 1%, to close at 41,575.14. Nifty at National Stock Exchange also surged 119.25 points, or 0.98%, to settle at 12,245.80. Bank Nifty was up by 414.65 points, or 1.30%, and closed at 32,412.35.
Zee Business's Managing Editor Anil Singhvi's Market Strategy for December 30:
Strong day support zone on Nifty is 12,150-12,200 and Bank Nifty is 32,200-32,250.
The small day range for trading on Nifty stands at 12,220-12,270, while the medium and bigger ranges lie between 12,200-12,285 and 12,150-12,350 respectively.
The small day range for trading on Bank Nifty stands at 32,325-32,450, while the medium and bigger ranges lie between 32,250-32,500 and 32,200-32,650.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 32,500.
For New Positions:
Buy Nifty in 12,190-12,220 range with a stop loss of 12,150 and target 12,250, 12,270, 12,285.
Sell Nifty near 12,270-12,300 range with a stop loss of 12,350 and target 12,250, 12,225, 12,200.
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 32,375, 32,325, 32,250.
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No Stock in F&O Ban today
Put-Call Ratio (PCR) 1.46, the volatility index (VIX) very low at 10.53. Volatility may increase.
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