On Wednesday the market opened in the gap down and traded ups and down in volatility. The market was stayed highly volatile during the trading hour and closed in flat to positive. On the closing bell, the Nifty index closed above 10400, Niftybank index closed below 26500 and the Sensex settled near 35700. The Nifty index gains 7 points, Niftybank index gains 25 points and the Sensex lost around 65 points respectively.
Today, the Nifty index opened at 10334.30 went up to 10545.10 and closed at 10458.40 after making the low of 10334. Niftybank index opened at 26272.75 and stayed volatile between 26800 to 26234.10 and closed at 26487.80.
As per the last view, ‘if the Nifty index breaks and sustains below 10300 then again the fall will continue and the Nifty can fall below 10000. If the Nifty index holds above 10300 then it can go up to 10600 to 10700 in the coming days’ today the index went up to 10550 after making the low of 10334.
For the next day trading, if the Nifty index, if the Nifty index holds above 10445 then it can go up to 10555 to 10700. If the Nifty index breaks and sustains below 10300 then it can fall till 10000 or more.
Today the market took the breath especially the Nifty after the continuous fall from 12200. The Nifty is falling continuos by following the downtrend as it can be seen from the hourly chart. Technically, it seems that the Nifty index will trade in a range of 10550 to 10300. breaking above of 10550 and breaking below 10300 will decide the further trend of the Nifty index. Momentum indicators are suggesting mix movement hence the market will stay volatile.
- SBI waives a minimum monthly balance requirement on the savings account.
- Govt may cut the interest rates on PPF, NSC, Senior Citizen Saving Scheme and Sukanya Samridhi Yojana.
- PACL- SEBI bans Sonu Nigam from selling, transferring agricultural land in Karjat area.
- Yes Bank admins say ‘Deals in process’ with bondholders.
- PNC Infratech bags Rs 3582 cr orders from NHAI.
- Adani Enterprises wins Rs 1546 cr project from NHAI.
- Tata Power holds Mundra UMPP shut-down till March 20.
- IT firm Mindtree partners with Realogy to enhance digital transformation.
Trading zone for the Nifty index on 12th March 2020
Upside Resistance:- 10555, 10650, 11870.
Downside Support:- 10445, 10345, 10235.
In the Nifty 50, 20 stocks traded in green and whereas 30 were declined on 11th March 2020.
Top 5 Nifty Gainer and Loser
The most active value-wise stocks were RELIANCE, SBIN, HDFC BANK, ICICI BANK, HDFC and the volume-wise were YES BANK, TATAMOTORS, SBIN, ONGC, GAIL.
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.