On Friday the market opened higher but erases all earlier gains and settled in a loss. The market was highly volatile early trading session and erases all its gains. On the closing bell, the Nifty index ends above 11900, Niftybank index settled below 31350 and the Sensex closed at 40445.15. The Nifty index loses –96.90 points, Niftybank loses –371.40 and the Sensex loses –334.44.
Today, the Nifty index opened at 12047.35 went up to 12057.05 and closed at 11888.85 after making the low of 11921.50. The Niftybank index opened at 31797.15 and stayed volatile between 31883.70 to 31250.65 and closed at 31341.55. Sensex opened at 40952.13 and made a high 40952.13 low 40337.53 and closed at 40445.15.
As per the last view, ‘if the Nifty index stays above 12000 and breaks 12035 then it can move up to 12075 to 12150 and if the Nifty index breaks and sustains below 12000 then it can fall towards 11950 to 11850, and today the index opened above 12035 but not sustained above 12000 and fell till 11921.50.
For the next day trading, if the Nifty index breaks above and 11955 and sustains above 12000 then further upside movement can be expected. If the Nifty breaks and sustains below 11900 then it can fell towards 11850 to 11785.
From the above hourly chart, it can be seen that the Nifty index taking support near 11880 and trading in the range of 11880 to 12100. Today the market opened positively but the profit booking has seen from the upper level and hence the market has fallen and closed negatively. As per the chart if the Nifty index breaks 11880 then it will fall sharply otherwise it will be in a range of 11880 to 12055.
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Trading zone for the Nifty index on 09th December 2019
Upside Resistance:- 11955, 12055, 12125.
Downside Support:- 11880, 11850, 11785.
In the Nifty 50, only 09 stocks traded in green whereas the 41 were declined on 06th December 2019.
Top 5 Nifty Gainer and Loser
The most active value wise stocks were YES BANK, SBIN, ICICI BANK, IBULHSGFIN, RELIANCE and the volume-wise were IDEA, YES BANK, DISHTV, RCOM, SBIN.