Anil Singhvi’s Market Strategy December 4: Market is Positive; Edelweiss & Vodafone Idea are Stock of the Day

Despite a positive start, the markets ended on a flat note on December 3, 2018. Nifty 50 closed 7 points or 0.06% high at 10,883.75 while S&P BSE Sensex was up by 46.70 points or 0.13% and closed at 36,241.00. But Nifty Bank index fell 5.40 points or 0.02% to close at 26,857.55. 

Indiabulls Housing Finance Limited was the top gainer of the day as it ended up by 9.98% while Yes Bank and Hindustan Unilever Limited grew by 4.92% and 4.68% respectively. 
 
Positive sentiments and foreign institutional investors (FIIs), neutral future and option (F&O) and global market and negative domestic institutional investors (DIIs) cues, the short-term trend of the Indian market will be positive on December 4, 2018. 

Zee Business's Managing Editor Anil Singhvi's Market Strategy for December 4: 

The trading range on Nifty lies at 10,850-10,925. An additional move of 50 points can be seen if Nifty starts trading over the aforesaid range. 

The trading range on Bank Nifty lies at 26,750-27,000. An additional move of 150 points can be seen if the indices start trading over the aforesaid range. 

Strong support range on the two indices, Nifty and Bank Nifty, resides between the mark of 10,750-10,800 and 26,500-26,600 respectively. 

Bullishness can be seen in the market if the two indices start trading above the mark of 11,000 and 27,000.

Traders are advised to close their buying positions if Nifty and Bank Nifty closes below the mark of 10,850 and 26,850 respectively. 

Buy and sell strategy on Nifty 
Buy Nifty in the range of 10,800-10,850 with a stop loss of 10,775 and target of 10,900, 10,925, 11,000. 

Sell Nifty in the range of 10,925-10,975 with a stop loss of 11,000 and target 10,900, 10,925, 11,000. 

Buy and sell strategy on Bank Nifty 
Buy Bank Nifty in the range of 26,600-26,750 with a stop loss of 26,600 and target of 27,850, 27,000. 

Sell Bank Nifty in the range 26900-27000 with a stop loss of 27,050 and target of 27,800, 26,750. 

No stock in F&O ban
Sectors: 

Positive: Fertilizers

The put-call ratio (PCR) stands at 1.68 and the volatility index (VIX) is 18.22.  

Stock of the Day: 
Buy Edelweiss: Stop loss 170 and target 185. PE Funds interested in picking up stake in its Wealth biz. 

Buy Vodafone Idea Futures: Stop loss 35 and target 36.50, 37, 37.75. Bharti Air interested in Fibre JV with Idea.