On Wednesday, the market opens flat to positive. Today the market stayed highly volatile and moving suddenly up and down and finally settled in green. On the closing bell, the Nifty index ends above 11900, Niftybank index settled above 31250 and the Sensex closed above 40400. The Nifty index gains 53.35 points, Niftybank index gains around 100 points and the Sensex gains more than 150 points.
Today, the Nifty index opened at 11867.35 went up to 11923.20 and closed at 11910.15 after making the low of 11832.30. The Niftybank index opened at 31151.65 and stayed volatile between 31337.85 to 30996.40 and closed at 31256.75. Sensex opened at 40285.20 and made a high of 40446.13 low 40135.37 and closed at 40412.57.
As per the last view, ‘if the Nifty index breaks 11885 and sustains above 11900 then it can go up to 11995 to 12100 and if the Nifty index breaks and sustains below 11850 then it can fell till 11800 to 11750’ and the index fell till 11832 after breaking 11850 and went up to 11923 after breaking the 11885.
For the next day trading, If the Nifty index stays above 11885 then it can go up to 11925 to 12000. If the Nifty index breaks and sustains below 11880 then again it can fall towards 11800.
From the above hourly chart, it can be seen that the Nifty index making lower low following a downtrend line. Today the market was highly volatile and traded on both the up and downside. The Nifty has made a long bullish candle in the last hour of trading, a good sign of upside movements. If the Nifty index holds today’s low 11832 then it can go up to 12000 again.
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Trading zone for the Nifty index on 12th December 2019
Upside Resistance:- 11945, 11980, 12070.
Downside Support:- 11850, 11795, 11710.
In the Nifty 50, 32 stocks traded in green whereas the 18 were declined on 11th December 2019.
Top 5 Nifty Gainer and Loser
The most active value wise stocks were YES BANK, SBIN, IBULHSGFIN, TCS, RELIANCE and the volume-wise were YES BANK, IDEA, DISHTV, SBIN, IBULHSGFIN.