Anil Singhvis Strategy December 5: Metal, Banking & Telecom sectors are Positive; Buy SAIL Futures with Stop Loss 38.75
Domestic Stocks on Wednesday, December 4, 2019, closed with gains of more than 0.4 per cent even as cues from Asian markets were negative. Benchmark indices staged a fag-end recovery to close higher ahead of the Reserve Banks policy meet outcome.
Amid positive global market, domestic institutional investor (DII), sentiment, neutral futures & options (F&O) and negative foreign institutional investor (FII) cues, the short-term trend of the Indian share market will be Positive on Thursday, December 5, 2019.
Domestic Stocks on Wednesday, December 4, 2019, closed with gains of more than 0.4 per cent even as cues from Asian markets were negative. Benchmark indices staged a fag-end recovery to close higher ahead of the Reserve Bank's policy meet outcome. Sensex at Bombay stock exchange settled 174.84 points, or 0.43%, up at 40,850.29. Nifty 50 at National Stock Exchange also added 49 points, or 0.41%, to close at 12,043.20. Bank Nifty gained 365.95 points, or 1.16%, and closed at 31,979.30.
Zee Business's Managing Editor Anil Singhvi's Market Strategy for December 5:
Next support zone on the two indices, Nifty and Bank Nifty, lies between 11,950-12,000 and 31,550-31,750.
The small and medium day range for trading on Nifty lies between 12,000-12,100 and 11,950-12,150 respectively.
The small day range for trading on Bank Nifty stands at 31,875-32,050 while the medium and the bigger range lies between 31,750-32,125 and 31,550-32,300 respectively.
For Existing Long Positions:
Nifty intraday stop loss 11,925 and closing stop loss 12,000.
Bank Nifty intraday stop loss 31,700 and closing stop loss 31,600.
For Existing Short Positions:
Nifty intraday stop loss 12,150 and closing stop loss 12,075.
Bank Nifty intraday and closing stop loss 32150.
For New Positions:
Buy Nifty with a stop loss of 11,925 and target 12,100, 12,125, 12,150.
Sell Nifty in 12,125-12,150 range with a stop loss of 12,200 and target 12,100, 12,050, 12,000.
Buy Bank Nifty with a stop loss of 31,700 and target 32,050, 32,150, 32,300.
Sell Bank Nifty in 32,100-32,150 range with a stop loss of 32,200 and target 31,950, 31,875, 31,750.
The put-call ratio (PCR) is 1.44 and the volatility index (VIX) is 13.22.
Sectors:
Positive: Metals, Banks, Telecom
Still in F&O Ban: Yes Bank
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Stock of the Day:
Buy SAIL Futures: Stop loss 38.75 and target 40.75, 41.75. November Sales up 36%, Strong outlook.
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