Anil Singhvi’s Strategy December 7: Day support zone on Nifty is 13,110-13,150 & Bank Nifty is 29,625-29,825

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 Monday, December 7, 2020.  

Benchmark domestic stocks on Friday, December 4, 2020, climbed one per cent to hit fresh record highs. Key indices surged amid positive global cues. The 30-share index, Sensex, at Bombay Stock Exchange achieved 45,000-mark while the Nifty-50 at National Stock Exchange finished above 13,250 level for the first time. 

The Sensex rose 447 points or one per cent to end at 45,080 while the Nifty closed 125 points or 0.95 per cent up to settle at 13,259. Bank Nifty closed 603.65 points, or 2.05 per cent, up at 30,052.40. The broader market at BSE underperformed the Sensex as the BSE Mid-Cap index gained 0.44 per cent while the BSE Small-Cap index appreciated 0.42 per cent. 

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for December 7: 

Day support zone on Nifty is 13,110-13,150, below that 12,975-13,050 is strong buy zone.

Day higher zone on Nifty is 13,350-13,400. 

Day support zone on Bank Nifty is 29,625-29,825, below that 29,375-29,450 is strong buy zone.

Day higher zone on Bank Nifty is 30,325-30,450, above that 30,625-30,825 is profit-booking zone.

The small day range for trading on Nifty is 13,200-13,300, while the medium and bigger ranges 13,150-13,350 and 13,100-13,400, respectively. 

The small day range for trading on Bank Nifty is 29,825-30,325, while the medium and bigger ranges are 29,750-30,450 and 29,625-30,625, respectively. 

FIIs Index long at 77% Vs 75%.

PCR at 1.57 Vs 1.58, VIX down by 5% to 18.03.

For Existing Long Positions:

Nifty intraday and closing stop loss are 13,100

Bank Nifty intraday stop loss is 29,800 and closing stop loss is 29,400.

For Existing Short Positions:

Nifty intraday and closing stop loss are 13,300.

Bank Nifty intraday and closing stop loss are 30,200.

For New Positions:

Buy Nifty with a stop loss of 13,100 and target 13,275, 13,300, 13,350, 13,400.

Aggressive traders can Sell Nifty in 13,350-13,400 range with a stop loss of 13,500 and target 13,300, 13,275, 13,250, 13,200.

For New Positions:

Buy Bank Nifty in 29,625-29,825 rang with a stop loss of 29,450 and target 30,050, 30,200, 30,250, 30,300, 30,425, 30,600.

Sell Bank Nifty in 30,600-30,800 range with a stop loss of 30,900 and target 30,450, 30,325, 30,250, 30,150.

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Sectors:

Positive: Big action in Midcap & Smallcap shares

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