Plan for December 12, 2019

Markets too volatile to trade

Markets look volatile and shaking out weak hands on both the long and short side. Retail traders should just watch from the sideline and avoid the trade. Try to have a position on both the long and short sides with the same value.

Try to take out profits whenever there is an opportunity. Do not try to overstay as markets are not in trending mood. Volumes too are on the lower side so without participation markets won't be able to decide where it wants to go. Hope for some news in Global or Local markets, so we get out of this rangy markets.😃

1. Nifty buy above 11,960 and sell below 11,880. 
2. Banknifty buy above 31,450 and sell below 31,170, look for 31,800 or 30,800 respectively if trade actives.
3. Kotak at an all-time high, buy with the stop loss of 1,660.
4. HDFC buy above 2,335 with the stop loss of 2,295.
5. SBI may give a bounce, there is a trend day tomorrow. Sell on rise around 325 levels which is near 5 SMA. 
6. ICICI at an all-time high, buy with the stop loss of 525.
7. Axis Bank sell around 712 with the stop loss of 730
8. Cement and Steel sectors look down. GST news in both sectors, try to avoid the trade or go with pair trades.
9. Maruti Scalp trade if it breaks yesterdays high (7,057) or low (6,982).
10. Volatility breakout trade (Inspired by Linda Raschke), here you buy or sell the breakout with an initial stop of 1% and trailing the targets.

• SRF - Buy above 3274 or Sell below 3230.

Disclaimer-

All information is based on the current market situation. Take everything with a pinch of salt and consult your adviser. The outlook is for the personal use of the author and educational purpose for others.