Given that Dow Jones is making historic highs and there could be more positive news in terms of Christmas buying etc around the world, it is reasonable to take a neutral to slightly bullish view on Nifty. I would go long at these levels and sell at the money call options just to lock in my potential upside and at the same time save me from a small downfall.
Keeping a cautious view on global markets in 2020, our currency of choice would be Gold. I would recommend buying SBI Gold ETF and using it as collateral in case you want to buy futures or anything. SBI Gold ETF would give you 87.5 percent collateral.