On Tuesday the market opened not only opened in green but also closed in the green after the continuous fall of seven days. The market was stayed up in volatility and try to taking support at the lower level. On the closing bell, the Nifty index ended above 11300, Niftybank index holds 29100 and the Sensex settled above 38500. The Nifty index gained over 150 points, Niftybank index gains more than 300 points and the Sensex gain around 400 points each.
Today, the Nifty index opened at 11217.55 went up to 11342.25 and closed at 11303.55 after making the low of 11152.55. Niftybank index opened at 29012.55 and stayed volatile between 29285.35 to 28749.55 and closed at 29177.05
As per the last view, ‘ if the Nifty index holds above 11600 then some recovery can be expected till 11900 and if the Nifty index sustains below 11600 then again it can fall towards 11500‘ and the market traded below 11600 and fallen below 11100.
For the next day trading, if the Nifty holds above 11265 then it can go up to 11450 to 11590. If the Nifty index breaks below 11160 then again it can fall towards 11100 to 11090.
Today, the market closed in positive after the seven days fall. The nifty index is taking support near 11100 to 11090. Currently, the Nifty may stay volatile between 11590 to 11090. Technically, if the Nifty index sustains below 11090 then again a big fall can be expected. Now the market is trading under the fear of coronavirus. Momentum indicators are in the mixed zone which cant define the direction.
- SBI Card IPO sees over near 90% subscription on day 2.
- Bank Of Baroda reduces the repo-linked home loan rate for new borrowers.
- Indian Railway Finance Corporation gets SEBI nod for IPO.
- SEBI revises investment manager eligibility norms for InvIT.
- Infosys inks strategic long-term partnership with K+SAG.
- ArcelorMittal Nippon Steel completes the acquisition of the Bhander power plant in Hazira.
- Rice export drop 12% in January on weak demand.
- Bank Of Maharashtra to raise up to Rs 600 cr via bonds.
Trading zone for the Nifty index on 03rd March 2020
Upside Resistance:- 11380, 11455, 11645.
Downside Support:- 11265, 11190, 11090.
In the Nifty 50, 48 stocks traded in green and only 02 were declined on 03rd March 2020.
Top 5 Nifty Gainer and Loser
The most active value-wise stocks were SBIN, RELIANCE, HDFC BANK, TATAMOTORS, ICICI BANK and the volume-wise were YES BANK, TATAMOTORS, SBIN, VEDL, ONGC.
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.