On Wednesday, the market opened lower and stayed eventually highly volatile. The market was trading downside earlier, later the market recover and settled in green after the Government press conference. On the closing bell, the Nifty index holds above 12000, Niftybank index settled near 32000 and the Sensex closed at 40850. The Nifty index gains 49 points, Niftybank index gains 365 points and the Sensex gains 175 points respectively.

Today, the Nifty index opened at 11969.95 went up to 12054.70 and closed at 12043.20 after making the low of 11935.30. The Niftybank index opened at 31549.30 and stayed volatile between 32017.75 to 31444 and closed at 31979.30. Sensex opened at 40606.01 and made a high 40886.87 low 40475.83 and closed at 40850.29.

As per the last view, ‘if the Nifty index breaks and sustains above 12010 then further upside rally can be seen and if the Nifty index breaks below 11950 then again it can fall towards 11900 to 11850’ and today the index made low of 11935 and later breaks above 12010 and closed at 12043.20.

For the next day trading, if the Nifty index stays above 12000 then it go up to 12250. If the Nifty index breaks below 11900 then it can fell again towards 11850 to 11800.

From the above hourly chart, it can be seen that the Nifty index broken its uptrend line but again moved up. The Nifty again reclaims 12000 and closed above it. Technically the market is on the positive side and the indicators are also showing positive signs on the hourly chart. If the Nifty breaks today’s high then it will move up sharply and it can go up to 12250. The index has broken an uptrend line and recover. A big bullish candle on the hourly chart is showing the bulls have tightened their muscles and ready for take-off.

NEWS HIGHLIGHTS

  • PNB fraud – Audit reveals LoUs worth Rs 25000 cr fraudulently issued.
  • Union cabinet approves personal protection bill.
  • SBI to sell 8.25% stake in UTI AMC via IPO.
  • Ramco system bags five years deal from the middle east based MNC.
  • Dr. Reddy’s launches cancer treatment injection in the US.
  • Govt bans the online sale of drugs by unlicensed platforms.
  • SAMHI Hotels receives SEBI approval for Rs 1800-2000 cr IPO.
  • Tata Motors double-digit growth in Land Rover lift US sales.
  • IPOs worth Rs 15000 cr coming soon, govt divestment to excite market – SEBI chef.
  • CSB Bank list opened at Rs 275/ per share gains settled at 54% gain.

Trading zone for the Nifty index on 5th December 2019

Upside Resistance:-    12090, 12130, 12250.

Downside Support:-  11935, 11890, 11850.

Nifty 50

Advances Declines
34 16

In the Nifty 50, 34 stocks traded in green whereas the only 16 were declined on 04th December 2019.

Top 5 Nifty Gainer and Loser

Gainer % Loser %
TATAMOTORS 7.02 LARSEN & TOUBRO -2.26
YESBANK 5.88 RELIANCE -1.55
ICICIBANK 3.82 COALINDIA -1.51
VEDL 3.01 IOC -1.13
HINDALCO 2.60 BAJAJFINSV -1.06

The most active value wise stocks were YES BANK , ICICI BANK, RELIANCE, LARSEN & TOUBRO, IBULHSGFIN and the volume-wise were IDEA, YES BANK, DISHTV, TATAMOTORS, RCOM.