Anil Singhvi’s Strategy December 3: Day support zone on Nifty is 12,970-13,060 & Bank Nifty is 29,050-29,200

Amid positive global markets, sentiment, neutral foreign institutional investors (FIIs), futures & options (F&O) and negative domestic institutional investors (DIIs), cues, the short-term trend of the Indian stock markets will be positive on Thursday, December 3, 2020.  

Key domestic indices on Wednesday, December 2, 2020, closed almost flat amid mixed global cues. Sensex fell 37 points to end at 44,618 while the NSE Nifty-50 index added five points to settle at 13,114. Bank Nifty lost 354.70 points or 1.19 per cent to end at 29,463.15.

The broader market at BSE outperformed as the Sensex as the BSE Mid-Cap index rose 0.55 per cent while the BSE Small-Cap index appreciated 0.68 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for December 3: 

Day support zone on Nifty is 12,970-13,060, below that 12,875-12,925 is strong Buy zone. 

Day higher zone on Nifty 13,175-13,250.

Day support zone on Bank Nifty is 29,050-29,200, below that 28,725-28,900 is strong Buy zone.

Day higher zone on Bank Nifty is 29,750-29,900, above that 30,000-30,150 is profit-booking zone. 

The small day range for trading on Nifty is 13,100-13,175, while the medium and bigger day ranges are 13,060-13,200 and 12,975-13,250, respectively.

The small day range for trading on Bank Nifty is 29,200-29,750, while the medium and bigger day ranges are 29,050-29,900 and 28,900-30,150, respectively. 

FIIs Index long at the higher side at 77% Vs 80%.

PCR at 1.4 Vs 1.46, VIX down by 1% to 19.91%.

For Existing Long Positions:

Nifty intraday stop loss is 13,000 and closing stop loss is 12,950.

Bank Nifty intraday and closing stop loss are 29,150.

For Existing Short Positions:

Nifty intraday and closing stop loss are 13,200.

Bank Nifty intraday and closing stop loss are 29,850.

For New Positions:

Buy Nifty in 12,965-13,050 range with a stop loss of 12,900 and target 13,100, 13,125, 13,145, 13,175. 

Aggressive traders Buy Nifty with strict stop loss is 13,000 and target 13,145, 13,200, 13,250.

Aggressive traders Sell Nifty in 13,175-13,250 range with a stop loss is 13,300 and target 13,125, 13,100, 13,050.

For New Positions:

Buy Bank Nifty in 29,050-29,200 range with a stop loss of 29,000 and target 29,350, 29,475, 29,550, 29,625, 29,750, 29,825, 29,900. 

Sell Bank Nifty in 29,750-29,900 range with a stop loss of 30,000 and target 29,650, 29,550, 29,475, 29,375, 29,200, 29,150.

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