On Monday the market opened positively and stayed highly volatile. Today the Niftybank was highly volatile and bears and bulls both were betting. On the closing bell, the Nifty index ends above 11900, Niftbank index settled at 31316.65 and the Sensex closed at 40487.43. The Nifty index gains 16 points, Niftybank loses –25 points and the Sensex gains 42.28 points.
Today, the Nifty index opened at 11939.10 went up to 11981.95 and closed at 11937.50 after making the low of 11888.05. The Niftybank index opened at 31321.40 and stayed volatile between 31537.65 to 31122.05 and closed at 31316.65. Sensex opened at 40527.24 and made a high 40645.63 low 40336.56 and closed at 40487.43.
As per the last view, ‘if the Nifty index breaks above and 11955 and sustains above 12000 then further upside movement can be expected and if the Nifty breaks and sustains below 11900 then it can fell towards 11850 to 11785.
For the next day trading, if the Nifty index breaks above 11936 then it can go up to 11985 to 12030. If the Nifty index breaks and sustains below 11900 then further it can fall towards 11850 to 11800.
From the above hourly chart, it can be seen that the Nifty index taking support near 11880. Today the index traded with high volatility and was giving unexpected movements. The chart is showing that the Nifty index has found support near 11880 and trading in a range of 11880 to 12000.
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Trading zone for the Nifty index on 10th December 2019
Upside Resistance:- 11936, 11985, 12030.
Downside Support:- 11880, 11840, 11750.
In the Nifty 50, 29 stocks traded in green whereas the 21 were declined on 09th December 2019.
Top 5 Nifty Gainer and Loser
The most active value wise stocks were YES BANK, SBIN, IBULHSGFIN, MARUTI, RELIANCE and the volume-wise were IDEA, YES BANK, DISHTV, SBIN, IBULHSGFIN.