On Monday, the Nifty index, Niftybank index, and Sensex were opened lower. The market was traded on a higher side after the weak opening. The bulls were maintained the momentum and hence the market closed positively. Today the Nifty index, Niftybank index, and Sensex closed with a gain of 56.85, 256.75 and 163.68 points respectively.
Today, the Nifty index opened at 10936.70 went up to 11028.85 and closed at 11003.05 after making the low of 10889.80. Niftybank index opened at 27240.35 made a high of 27565.55 and low 26993.90 settled at 27504.65. Sensex opened at 36969.48 and stayed volatile between 37244.03 to 36784.47 closed at 37145.45.
As per our last view, ‘if the Nifty index break and sustain above 10960 then it can go up to 11000 to 11045 and if the Nifty index break below 10920 then it can again fall till 10900 to 10800’ and today the market fall till 10889.80 after breaking the 10920 and went up to 11028 after break up 10960.
For the next trading day, if the Nifty index sustains above 10950 then the upside movement will continue. If the Nifty index stays above 11000 then it can go up to 11045 to 11150.
Above chart suggesting that the market is moving up towards the resistance of 11045 by following the supports. In the hourly chart above, it can be seen that the Nifty index moving up by making higher lows and higher highs. The Nifty index’s closing below the resistance and conversions in MACD suggest that the again market could fall once test resistance.
As the market is highly volatile and uncertain, trade cautiously and stay updated.
Trading zone for the Nifty index on 11th September 2019
Upside Resistance:- 11060, 11100, 11180.
Downside Support:- 10973, 10915, 10835.
In the Nifty 50, 35 stocks traded in green whereas 15 were declined on 09th September 2019.
Top 5 Nifty Gainer and Loser
The most active value wise stocks were MARUTI, YESBANK, ICICIBANK, RELIANCE, TATAMOTORS and the volume-wise were YESBANK, TATAMOTORS, ICICIBANK, SBIN, TATASTEEL.