On the first day of the December month on Monday the market opened positively and settled almost flat. The market stayed highly volatile and range-bound during the trading session. On the closing bell, the Nifty index ends just below 12050, Niftybank index closed above 31800 and the Sensex holds above 40800. The Nifty index loses –7.85 points, Niftybank index loses –75 points and the Sensex gains 8.36 points. Bharti Airtel, Yes Bank, Jswsteel and Asian paints are some of the market movers.
Today, the Nifty index opened at 12137.05 went up to 12137.15 and closed at 12048.20 after making the low of 12023.70. The Niftybank index opened at 32008.30 and stayed volatile between 32024.10 to 31720.60 and closed at 31871.45. Sensex opened at 41072.94 and made a high 41093.99 low 40707.63 and closed at 40802.17.
As per the last view, ‘if the Nifty index sustains above 12000 then the upside movement will be continued and if the Nifty index breaks and sustains below 12000 then it move towards 11950 to 11900’ today the market opened higher but erases all its gains and settle above 12000.
For the next day trading, if the Nifty index holds and breaks above 12070 then again it can go up 12200. If the Nifty index breaks and sustains below 12000 then again it falls towards 11900 to 11850.
Above is the hourly chart of the Nifty index. From the above chart, it can be seen that the Nifty index moving upside and maintaining its upside momentum. It can be seen that the index today took support near 12000 and trying to stay up. 12000 will be the decisive level for the Nifty index, if it breaks and sustains below 12000 then again it can fall towards 11900 to 11850. Technically, the market looks positive and it can keep continuing upside momentum in the coming days. Indicators are showing positive momentum on the hourly chart. The market may keep continuing its upside momentum and a new peak can be seen on the chart in the coming days.
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Trading zone for the Nifty index on 3rd December 2019
Upside Resistance:- 12070, 12185, 12300.
Downside Support:- 12000, 11955, 11850.
In the Nifty 50, only 18 stocks traded in green whereas the only 32 were declined on 02nd December 2019.
Top 5 Nifty Gainer and Loser
The most active value wise stocks were IBULHSGFIN, BHARTI AIRTEL, YES BANK, RELIANCE, IDEA and the volume-wise were IDEA, YES BANK, IBULHSGFIN, DISHTV, BHARTI AIRTEL.
GSI Team is the technical expert team of Above Stocks, which is lead by the Aarish and works on giving the latest and accurate information about the Nifty and its prediction.