On Tuesday the market opened in the gap up but erases its aal gain and settled negatively. Today the market stayed highly volatile and traded lowe side. On the closing bell, the Nifty index closed below 12000, Niftybank settled above 31600 and the Sensex ends above 40650. The Nifty index loses –54 points, Niftybak index loses around –260 points and the Senex also loses more than –125 points.
Today, the Nifty index opened at 12067.65 went up to 12068.60 and closed at 11994.20 after making the low of 11956.40. The Niftybank index opened at 31920.10 and stayed volatile between 31936.60 to 31503 and closed at 31613.35. Sensex opened at 40852.61 and made a high 40885.03 low 40554.04 and closed at 40675.45.
As per the last view, ‘if the Nifty index holds and breaks above 12070 then again it can go up 12200 and if the Nifty index breaks and sustains below 12000 then again it fall towards 11900 to 11850’ today the index not broked 12070 and fell till 11956 after breaking 12000.
For the next day trading, if the Nifty index breaks and sustains above 12010 then further upside rally can be seen. If the Nifty index breaks below 11950 then again it can fall towards 11900 to 11850.
From the above chart of the Nifty index, it can be seen that the index is moving by following an uptrend line. Today the index breaks and closed below the trendline but the bulls pull back and the next candle closed in bullish as it can be seen in the chart above. Technically the market is on the positive side and the indicators are also showing positive signs on the hourly chart. If the Nifty index breaks below 11950 then it can again fall and if it sustains above 12000 then the upside rally will continue in the coming days.
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Trading zone for the Nifty index on 4th December 2019
Upside Resistance:- 12010, 12060, 12120.
Downside Support:- 11945, 11890, 11850.
In the Nifty 50, only 11 stocks traded in green whereas the only 39 were declined on 03rd December 2019.
Top 5 Nifty Gainer and Loser
The most active value wise stocks were YES BANK , IBULHSGFIN, BHARTI AIRTEL, TCS, RELIANCE and the volume-wise were IDEA, YES BANK, DISHTV, IBULHSGFIN, JINDALSTEL.