Market Update: Nifty – Bank Nifty Trading Tips for the day of 12 December 2017

Nifty Trading Tips for the day of 12 December 2017: Equity benchmarks began the day on a flattish note with a hint of negative bias. Soon after the opening, indices moved in the red zone, with the Nifty giving up 10,300.

Check: Best penny stocks to buy for long term growth

Nifty Trading Tips for the day of 12 December 2017

The Sensex was down 113.64 points at 33342.15, while the Nifty was down 40.70 points at 10281.55. The market breadth was narrow as 611 shares advanced against a decline of 577 shares, while 43 shares are unchanged.

Nifty Trading Tips for the day of 12 December 2017

Among sectors, banks have taken a hit, while midcaps are in tandem with benchmarks.

Dr Reddy’s Labs, ONGC, and GAIL were the top gainers on both indices, while Asian Paints, Coal India and HPCL lost the most.

On the global front, Asian shares were trying to string together a fourth session of gains on Tuesday as optimism about global growth looked set to outlast an almost certain hike in US borrowing costs this week.

The latest upbeat news came from China where banks doled out a surprisingly generous dose of credit in November, which could bode well for a pick up in retail sales and industrial output due later in the week.

US stocks closed higher on Monday as investors prepared for an expected Federal Reserve rate hike later in the week, while stocks rose around the world on continued solid global economic growth indicators.

Source: Moneycontrol

Buy Nifty from Support level of 10280 stop loss 10255 target 10305 – 10325

Buy Bank Nifty Support level of 25120 stop loss 25060 target 25180 – 25220

 

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