Anil Singhvi's Market Strategy December 3: Market is Positive; Metals, Aviation and Cement sector Positive
Indian markets ended mixed on November 30, 2018. The S&P BSE Sensex rose 23.98 points or 0.07% to close at 36,194.30 and Nifty 50 gained 18.05 points or 0.17% and closed at 10,876.75.
Indian markets ended mixed on November 30, 2018. The S&P BSE Sensex rose 23.98 points or 0.07% to close at 36,194.30 and Nifty 50 gained 18.05 points or 0.17% and closed at 10,876.75. But Nifty Bank index fell 76.65 points or 0.28% to close at 26,862.95.
Amid positive sentiments, future and option (F&O), domestic institutional investors (DIIs), global market and neutral foreign institutional investors (FIIs) cues, the short-term trend of the Indian market will continue to be positive on December 3, 2018.
Zee Business's Managing Editor Anil Singhvi's Market Strategy for December 3:
Small and bigger trading range on Nifty lies between 10,925-11,000 and 10,875-11,050 while the extreme range stands at 10,850-11,100.
Small and bigger trading range on Bank Nifty lies between 26,850-27,000 and 26,750-27,100 while the extreme range stands at 26,600-27,250.
The intraday support range on the two indices, Nifty and Bank Nifty, resides at the mark of 10,875-10,900 and 26,750-26,850 respectively.
Traders are advised to close their buying positions if Nifty and Bank Nifty closes below the mark of 10,725 and 26,450.
Buy strategy on Nifty and Bank Nifty
Buy Nifty with a stop loss of 10,900 and target of 11,000, 11,050, 11,100.
Buy Bank Nifty with a stop loss of 26,750 and target 27,000, 27,100, 27,250.
No stock in F&O ban
Positive: Metals, Aviation, Cement buy on dips
The put-call ratio (PCR) stands at 1.70 and the volatility index (VIX) is 19.16.
Stock of the Day
Sell Sun Pharma Futures: Stop loss 505 target 470, 460, 450. SEBI may reopen the insider trading case against promoters.
Buy Tata Steel Futures: Stop loss 525 and target 545, 550. Peace on trade war for 90 days.
Buy Hindalco Futures: Stop loss 223 and target 233, 237
Buy Vedanta Futures: Stop loss 188 and target 200, 204
Buy Jet Air Cash: Stop loss 295 and target 315, 325. ATF prices cut by 11%.
Buy Indigo Cash: Stop loss 1000 and target 1080
Buy MCX Futures: Stop loss 720 and target 745, 755. SEBI allows Commodity Exchanges to extend trading time
Buy NIIT Tech: Stop loss 1090 and target 1125, 1140
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