On Friday, the market opened lower and traded in the hands of bears. The market was traded on the lower side and traded under the pressure of sellers. On the closing bell, the Nifty index holds 12200, Niftybank index ends above 32000 and the Sensex closed at 41464.61. The Nifty index loses more than –50 points, Niftybank index loses –375 points and the Sensex loses –162 points each.
Today, the Nifty index opened at 12261.10 went up to 12265.60 and closed at 12226.65 after making the low of 12191.35. The Niftybank index opened at 32327 and stayed volatile between 32330 to 31960 and closed at 32069.25.
As per the last view, ‘if the Nifty index breaks above 12293 then it can go up to 12350 and more and If the Nifty index breaks below 12250 then it can fall towards 12200 to 12120‘ and the index fell till 12191 after breaking 12250.
For the next day trading, if the Nifty index breaks and sustains above 12230 then it can go up 12293 to 12375. If the Nifty index breaks and sustains below 12190 it can slip till 12120.
From the above chart, it can be seen that the index is resisting below 12293. The Nifty trading in the range of 12300 to 12100. The near support of 12190 will be the decisive level for the downside movements and the 12293 will be the upside movements. Technically, the market looks positive but the volatility will continue in the coming days.
- Apple to launch six new iPhone, including iPhone SE 2 Plus in 2020.
- Hotel Leela Venture changes its name to HLV ltd.
- SBI plans to sell a 1% stake in NSE.
- Finance Ministry implores banks to boost RuPay, UPI infra.
- Ratan Tata moves SC against NCLAT order reinstating Cyrus Mistry as Tata Sons chairman.
- SEBI to revisit mutual fund categorization like to next week.
- BSE equity derivative volume scales past Rs 3000 cr.
- Bank Baroda raises Rs 920 cr by issuing Basel III compliant bonds.
Trading zone for the Nifty index on 06th January 2020
Upside Resistance:- 12230, 12295, 12350.
Downside Support:- 12190, 12150, 12080.
In the Nifty 50, 12 stocks traded in green whereas the 36 were declined on 03rd January 2020.
Top 5 Nifty Gainer and Loser
The most active value-wise stocks were RELIANCE, TCS, TATAMOTORS, SBIN, HDFCBANK and the volume-wise were YES BANK, TATAMOTORS, ONGC, ZEEL, SBIN.
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.