On the first day of November, the market not only opened higher but also closed in positive. On Friday the market stayed volatile and traded in a range of 11945 to 11845. On the closing bell, the Nifty ends below 11900, Niftybank closed above 30300 and the Sensex holds above 40150. The Nifty index gains 13 points, Niftybank gains more than 250 points and Sensex gains 36 points.

Today, the Nifty index opened at 11886.60 went up to 11918.30 and closed at 11890.60 after making the low of 11843.35. The Niftybank index opened at 30196.15 and stayed volatile between 30409 to 30028.90 and closed at 30330.55. Sensex opened at 40196.07 made a high of 40283.30 low 40014.23 and closed at 40165.03.

As per our last view, ‘if the Nifty index breaks and hold above 11900 then again it can move towards 11945 to 12000 and if the Nifty index breaks below 11810 then it can fall till 11720’ and today the Nifty index opened above 11900 but unable to hold and came down.

For the next day trading, if the Nifty index breaks above 11945 then further upside rally can be seen in the coming days. If the Nifty index breaks below 11820 then it can fall towards 11780 to 11700.

From the above chart of the Nifty index, it can be seen that it is moving up following an uptrend channel. It can be seen that the index trading in a range of 11950 to 11840. Breaking these levels either up or down will decide the next move of the market. Technically, the market looks strong and the Nifty index can give a new high in the next few trading sessions.

NEWS HIGHLIGHTS

  • PMC- Delhi high court send notice to Central govt and RBI.
  • YES BANK reports Rs. 600 crore Q2 loss on Tax hit; asset quality worsens.
  • Bajaj Finance to launch QIP next weak.
  • GST collections for October stand at rs 95380 cr.
  • Lupin gains4% amid reports of plan to sell Japanese generic arm.
  • Vodafone idea gains 23% after companies denies reports of exiting Idia biz.
  • Govt orders SFIO probe against crisis-hit DHFL.
  • DCGA asks IndiGo to fix engines in 97 A320neo by January 31.
  • Ashok Leyland posts 35% decline in October sales dented by MHCV.

Trading zone for the Nifty index on 04th November 2019

Upside Resistance:-    11945, 12000, 12110.

Downside Support:-  11880, 11850, 11810.

Nifty 50

Advances Declines
26 24

In the Nifty 50, 26 stocks traded in green whereas the 24 were declined unchanged on 01st November 2019.

Top 5 Nifty Gainer and Loser

Gainer % Loser %
ZEEL 18.46 YESBANK -6.11
INFRATEL 6.83 IOC -2.83
INDUSINDBK 5.01 TCS -2.76
TATASTEEL 4.18 M&M -2.71
JSWSTEEL 3.86 EICHERMOT -2.39

The most active value wise stocks were YESBANK, ZEEL, SBIN, IBULHSGFIN, INDUSINDBK and the volume-wise were IDEA, YESBANK, DISHTV, ZEEL, IBULHSGFIN.