Anil Singhvi’s Strategy December 6: Market Trend & Sentiment are Positive; Auto Sector is Negative
Domestic Stocks on Thursday, December 5, 2019, closed with marginal losses after the Reserve Bank kept its policy rate unchanged. The move surprised the investors who were expecting a 25 basis-point cut. Volatility was also triggered by weekly expiry of index options.
Amid positive global market and sentiment, neutral foreign institutional investor (FII), domestic institutional investor (DII) and futures & options (F&O) cues, the short-term trend of the Indian share market will be Positive on Friday, December 6, 2019.
Domestic Stocks on Thursday, December 5, 2019, closed with marginal losses after the Reserve Bank kept its policy rate unchanged. The move surprised the investors who were expecting a 25 basis-point cut. Volatility was also triggered by weekly expiry of index options. Sensex at Bombay stock exchange settled 70.70 points, or 0.17%, down at 40,779.59. Nifty at National Stock Exchange also slipped 24.80 points, or 0.21%, to close at 12,018.40. Bank Nifty lost 266.35 points, or 0.83%, to close at 31,712.95.
Zee Business's Managing Editor Anil Singhvi's Market Strategy for December 6:
Next support zone on Nifty 11,950-12,000 and Bank Nifty is 31,450-31,550.
The small day range on Nifty stands at 12,000-12,075 and the medium range is 11,950-12,125.
The small day range on Bank Nifty stands at 31,600-31,875. The medium and bigger ranges lie between 31,550-32,000 and 31,450-32,125.
For Existing Long Positions:
Nifty intraday stop loss 11,925 and closing stop loss 12,000.
Bank Nifty intraday stop loss 31,450 and closing stop loss 31,600.
For Existing Short Positions:
Nifty intraday and closing stop loss 12,100.
Bank Nifty intraday and closing stop loss 32,150.
For New Positions:
Buy Nifty with a stop loss of 11,925 and target 12,075, 12,100, 12,125.
Sell Nifty in 12,100-12,150 range with a stop loss of 12,200 and target 12,075, 12,050, 12,000.
Buy Bank Nifty with a stop loss of 31,450 and target 31,875, 31,950, 32,100.
Sell Bank Nifty in 31,950-32,100 range with a stop loss of 32,200 and target 31,875, 31,750, 31,625.
The put-call ratio (PCR) is 1.54 and the volatility index (VIX) is 14.31.
Still in F&O Ban: Yes Bank
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