Daily Analysis of Stock Market – NIFTY – 03rd September 2019

On the first trading day of the September month Nifty, Niftybank, and Sensex were not only opened lower but also traded lower side and declined more than 2% each on Tuesday. However Nifty index, Niftybank index, and Sensex closed in red and lost –225, –603 and –770 points each. Bears were rolled the bulls and take the market in their hands.


Today the market opened lower where the Nifty index was opened at 10960.95 made high of 10967.50 and settled at 10797.90 after making the low of 10772.70. Niftybank index opened at 27239.20 and stayed volatile between 27247 to 26742.60 during the day and closed at 26824.15. Sensex traded in the range of 37188 to 36466 and closed at 36562.91 while open was 37181.76.

As per our last view, ‘if the Nifty index will break and sustain below 10980 then it can fall till 10900 to 10800 and If the Nifty index will trade continue above of 11000 then it can move towards 11075 to 11150’ but today the Nifty index opened below 10980 and breaks 10800. For the next trading day, if the Nifty index will break and sustain above 10850 then it can go up to 10900 to 11000. If the Nifty index will trade continue below 10800 then it can fell towards 10725 to 10600.

From the chart above it can be seen that the Nifty index continues trading below the resistance and breaking its supports. Today the Nifty index closed below the support of 10900 and 10800 and the MACD is showing diversions on the hourly chart. Last week it closed below the uptrend line on the weekly chart and break down the trend line. Breaking supports, uptrend line, and diversions in MACD are reflecting the sign of weakness. Technically, the market is weak and became sell on rising.


Trading zone for the Nifty index on 04th September 2019

Upside Resistance:-    10850, 10920, 11000.

Downside Support:-  10720, 10650, 10600.

Nifty 50

Advances Declines
2 48

In the Nifty 50, only two stocks traded in green whereas 48 were declined on 03rd September 2019.

Top 5 Nifty Gainer and Loser 

Gainer % Loser %
————– —— ICICIBANK -4.35
————– —— TITAN -4.23
————– —— IOC -4.12

The most active value wise stocks were YESBANK, RELIANCE, IBULHSGFIN, INDUSINDBK, HDFC and the volume-wise were YESBANK, TATAMOTORS, SBIN, ICICIBANK, IBULHSGFIN.