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Plan for December 6, 2019

Longs shattered as RBI didn't cut rates


Nifty and bank nifty came back from 12,100 and 32,100 resistance respectively. Buy on a dip if the environment and global market are conducive.

  1. HDFC buy above 2,345 and sell below 2,290. Avoid in between.
  2. Kotak at the support of 1,645 can bounce from here. Trend day for Kotak tomorrow.
  3. Indus at support 1,500, if hold can go long and if breaks short. 
  4. Axis at the support of 730, short if breaks.
  5. Reliance is consolidating, avoid the trade. Buy around 1,500-10 gap will be filled.
  6. Maruti sell below 7,000.
  7. SBI buy around 325-30.
  8. Crude buy above 4,205.
  9. Volatility breakout trade (Inspired by Linda Raschke), here you buy or sell the breakout with an initial stop of 1% and trailing the targets.
  • Sun Pharma
  • NCC
  • Bharti Infratel
  • Hind Unilever 
Markets are volatile and hard to trade just now, take what market gives. 



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.
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