On Monday, the market opened lower and stayed bearish during the trading session. The market was held by the bears and closed negatively. On the closing bell, the Nifty index ends below 12000, Niftybank index settled above 31200 and the Sensex closed at 40676. The Nifty index loses around –235 points, Niftybank loses more than –800 points and the Sensex loses around –800 points each.
Today, the Nifty index opened at 12170.60 went up to 12179.10 and closed at 12193.05 after making the low of 11974.20. The Niftybank index opened at 31910 and stayed volatile between 31914 to 31170 and closed at 31237.15.
As per the last view, ‘if the Nifty index breaks and sustains above 12230 then it can go up 12293 to 12375 and if the Nifty index breaks and sustains below 12190 then it can slip till 12120‘ today the market opened lower and the index tank till 11974.
For the next trading day, if the Nifty index sustains above 12000 then it can go up to 12050 to 12120. If the index sustains below 12000 and breaks 11974 then further downside level can be seen in the coming trading session.
From the chart, it can be seen that the Nifty index opened in a gap down later slips till 11974 after breaking the near support. Today the index closes below the technical and sentimental level of 12000. Heading below 12000 of the index is the sign of the fall of the market. Due to the Geopolitical tension, the Asian markets are trading under the pressure and hence the outlook becomes negative. The volatility will be high in the market and uncertainty will continue in the coming days.
NEWS HIGHLIGHTS
- Tension in the Middle east spook the market.
- EPFO is likely to cut interest rates by as much as 25 bps.
- NSE approaches market regulator SEBI for IPO.
- CDSL inaugurates its first branch at GIFT IFSC.
- Tata Capital Housing Finance turns to retail funding with maiden NCD issue.
- True North to acquire 2.44% stake in Bocon Biologics.
- EVI Technologies joins hands with BSNL for EV charging infrastructure.
- NCLAT dismisses RoC plea on modification of the judgment in Tata-Mistry matter.
Trading zone for the Nifty index on 07th January 2020
Upside Resistance:- 12050, 12120, 12250.
Downside Support:- 11974, 11915, 11845.
Nifty 50
| Advances | Declines |
| 04 | 46 |
In the Nifty 50, only 04 stocks traded in green whereas the 46 were declined on 06th January 2020.
Top 5 Nifty Gainer and Loser
| Gainer | % | Loser | % |
| TITAN | 1.52 | SBIN | -4.58 |
| WIPRO | 0.34 | BAJFINANCE | -4.52 |
| DRREDDY | 0.04 | VEDL | -4.47 |
| TCS | 0.03 | ZEEL | -4.46 |
| ———- | ——- | YESBANK | -3.82 |
The most active value-wise stocks were RELIANCE, BAJFINANCE, SBIN, HDFCBANK, TCS and the volume-wise were YES BANK, SBIN, TATAMOTORS, ZEEL, ONGC.
