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.
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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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Sectors:
Negative: Auto
Stock of the Day:
Sell Maruti Futures: Stop loss 7075 and target 6950, 6900, 6850. Maruti to recall 1 lakh hybrid cars.
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