Anil Singhvi’s Strategy December 4: Day support zone on Nifty is 13,060-13,110 & Bank Nifty is 29,050-29,200

Amid positive global markets, foreign institutional investors (FIIs), sentiment, neutral futures & options (F&O) and negative domestic institutional investors (DIIs) cues, the short-term trend of the Indian stock markets will be positive on Friday, December 4, 2020.  

Key domestic indices on Thursday, December 3, 2020, closed with marginal gains amid mixed global cues. While PSU banks, metals and auto shares advanced, private banks and IT stocks declined. Buyers outpaced sellers. The S&P BSE Sensex added 14.61 points or 0.03 per cent to end at 44,632.65 while the NSE Nifty 50 index rose 20.15 points or 0.15 per cent to settle at 13,133.90, its record closing high. However, Bank Nifty slipped 14.40 points, or 0.05 per cent, to settle at 29,448.75. 

The broader market at BSE outperformed the Sensex as the BSE Mid-Cap index surged 0.85 per cent while the BSE Small-Cap index appreciated 0.68 per cent.

Editors Take on RBI Policy:

1. Cautious to Neutral Policy expected from RBI.

2. Three important factors are measure concern:

High Inflation
Negative Growth
Excess Liquidity

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

Day support zone on Nifty is 13,060-13,110, below that 12,925-12,975 is strong Buy zone.

Day higher zone on Nifty is 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.

Small Day Range for trading on Nifty is 13,110-13,175, while the medium and bigger ranges are 13,060-13,200 and 12,975-13,250, respectively. 

Small Day Range for trading on Bank Nifty is 29,375-29,625, while the medium and bigger ranges are 29,150-29,750 and 29,050-29,900, respectively.

FIIs Index long at 75% Vs 77%.

PCR at 1.58 Vs 1.4, VIX down by 5% to 19.00.

For Existing Long Positions:

Nifty intraday and closing stop loss are 13,050.

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

For Existing Short Positions:

Nifty intraday and closing stop loss are 13,215.

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

For New Positions:

Buy Nifty in 12,970-13,060 range with a stop loss of 12,900 and target 13,100, 13,125, 13,175, 13,200. 

Aggressive traders can buy in 13,060-13,110 range with a stop loss of 13,000 and target 13,175, 13,200, 13,250. 

Sell Nifty in 13,200-13,250 range with a stop loss of 13,300 and target 13,175, 13,135, 13,110.

For New Positions:

Buy Bank Nifty in 29,050-29,200 range with a stop loss of 29,000 and target 29,350, 29,450, 29,550, 29,625, 29,750, 29,825, 29,900. 

Sell Bank Nifty in 29,750-29,900 range with a stop loss of 30,050 and target 29,650, 29,550, 29,475, 29,375.

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