On Tuesday, the market opened higher but traded the lower side. Today the market traded under pressure hence settled in the red. On the closing bell, the Nifty index ends just above 11850, Niftybank index settled at 31160 and the Sensex closed below 40250. The Nifty index loses –80.70 points, Niftybank index loses –156.30 points and the Sensex loses around –250 points.
Today, the Nifty index opened at 11950.50 went up to 11953.20 and closed at 11856.80 after making a low of 11844.70. The Niftybank index opened at 31386.40 and stayed volatile between 31412.80 to 31126 and closed at 31160.35. Sensex opened at 40588.81 and also made a high of 40588.81 low 40208.70 and closed at 40239.88.
As per the last view, ‘if the Nifty index breaks above 11936 then it can go up to 11985 to 12030 and if the Nifty index breaks and sustains below 11900 then further it can fall towards 11850 to 11800’ and today the index opened above 11936 went up to 11953.20 and fell till 11844 after breaking 11900.
For the Next day trading, if the Nifty index breaks 11885 and sustains above 11900 then it can go up to 11995 to 12100. If the Nifty index breaks and sustains below 11850 then it can fall 11800 to 11750.
From the above hourly chart of the Nifty index it can be seen that the index falling from 12158 and today broked the support of 11880. The index making lower low and higher low as can be seen in the above chart. Today selling pressure in the market is a sign of more downside is awaiting at least 11800. Still we are on bull side as we expecting that the Nifty should bounce back from 11800.
- Motilal Ostwal cut the L&T target price on lower growth expectations.
- South Indian Bank share price declines on rating revision.
- FDI limit likely to increase in insurance companies.
- Dilip buildcon bags Rs 825 cr Delhi metro projects.
- Yes Bank share price slips as Rakesh Jhunjhunwals likely to withdraw investment plan in the company.
- Bharti Airtel rolls out WiFi calling services in Delhi.
- Bank Baroda lowers the MCLR lending rate by 20 bps.
- Aditya Birla fashion gets board nod for appointment of Himansu Kapania as vice-chairman.
Trading zone for the Nifty index on 11th December 2019
Upside Resistance:- 11885, 11925, 11995.
Downside Support:- 11844, 11800, 11775.
In the Nifty 50, 14 stocks traded in green whereas the 36 were declined on 10th 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.
GSI Team is the technical expert team of Above Stocks, which is lead by the Aarish and works on giving the latest and accurate information about the Nifty and its prediction.