Amid neutral global markets, negative foreign institutional investors (FIIs), positive domestic institutional investors (DIIs), future & options (F&O) and cautious sentiment cues, the short-term trend of the Indian stock markets will be negative on Monday, December 6, 2021. 

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The domestic equity benchmarks ended lower by more than one per cent on Friday, December 3, 2021. Investors' sentiment took a hit after India reported two Omicron COVID cases in Southwest India.

The 30-share pack S&P BSE Sensex fell 764.83 points or 1.31 per cent to close at 57,696.46. The Nifty 50 index slumped 204.95 points or 1.18 per cent to 17,196.70. The Nifty Bank also lost 311.10 points or 0.85 per cent to end at 36,197.15.

In the broader markets at the BSE, the S&P BSE MidCap declined 0.01 per cent while S&P BSE SmallCap closed with a gain of 0.33 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for December 6:

Day support zone on Nifty is 17,050-17,150, below that 16,925-16,975 is a strong Buy zone.

Day higher zone on Nifty is 17,275-17,350, above that 17,400-17,475 is a strong Sell zone.

Day support zone on Bank Nifty is 35,900-36,050, below that 35,500-35,700 is a strong Buy zone.

Day higher zone on Bank Nifty is 36,350-36,500, above that 36,650-36,800 is a strong Sell zone.

The small day range for trading on Nifty is 17,150-17,275, while the medium and bigger day ranges are 17,050-17,350 and 16,975-17,400, respectively.

The small day range for trading on Bank Nifty is 35,900-36,350, while the medium and bigger day ranges are 35,800-36,500 and 35,700-36,650, respectively.

FIIs Index long decreased to 68% Vs 73%.

PCR light and comfortable at 0.91 Vs 1.42, Buying support at lower levels.

India VIX up by 2% at 18.46.

For Existing Long Positions:

Nifty Intraday stop loss is 17,150 and Closing stop loss is 16,975.

Bank Nifty Intraday stop loss is 35,900 and Closing stop loss is 35,700.

For Existing Short Positions:

Nifty Intraday and Closing stop loss are 17,425.

Bank Nifty Intraday and Closing stop loss are 36,550.

For New Positions:

Buy Nifty in 17,000-17,075 range with a stop loss of 16,900 and target 17,150, 17,200, 17,275, 17,325.

Aggressive Traders Buy Nifty with a Strict stop loss of 17,150 and target 17,275, 17,325, 17,350, 17,400, 17,475.

Sell Nifty in 17,350-17,500 range with a stop loss of 17,600 and target 17,275, 17,200, 17,160.

Aggressive Traders Sell Nifty with a Strict stop loss of 17,425 and target 17,160, 17,075, 17,025, 16,985, 16,935.

For New Positions:

Buy Bank Nifty in 35,525-35,700 range with a stop loss of 35,300 and target 35,800, 35,900, 35,975, 36,050, 36,200.

Aggressive Traders Buy Bank Nifty with a Strict stop loss of 35,900 and target 36,350, 36,450, 36,500, 36,650, 36,775.

Sell Bank Nifty in 36,500-36,650 range with a stop loss of 36,850 and target 36,375, 36,200, 36,050, 35,975.

F&O Ban Update:

Already In Ban: Vodafone Idea, Indiabulls Housing Finance

New In Ban: Nil

Out Of Ban: Nil

Stock Of The Day:

Buy NMDC Futures: Stop loss 144 and target 150, 152, 155. Rs 9.01 Dividend announced.