On Friday, the market opened higher and settled in green. On the weekend the market was stayed highly volatile and witnessed sudden movement. On the closing bell, The Nifty index closed above 11300, Niftybank holds 28000 and Sensex settled above 38100. The Nifty index gains 70.50 points, Niftybank index gains 29.05 points and Sensex up 287 points.
Today, the Nifty index opened at 11257.70 went up to 11362.90 and closed at 11305.05 after making the low of 11189.40. The Niftybank index opened at 28245.55 and stayed volatile between 28604.05 to 27736.80 and closed at 28042.50. Sensex opened at 37994.48 made a high of 38345.41 low 37737.85 and closed at 38127.08.
As per our last view, ‘if the Nifty index stays above 11245 then it can go up to 11300 to 11400 and if the Nifty index breaks and sustains below 11200 then further downside level can be seen in the coming days’ today the index opened higher and went up to 11363 after breaking 11245 and sleeps till 11193.
For the next trading day, if the Nifty index breaks above 11365 then it can go up to 11400 or more. If the Nifty index breaks and sustains below 11285 then it can fell till 11190 to 11090.
From the above hourly chart of the Nifty index, it can be seen that the index is trading below following the downtrend. The index has taken last support at 11090 and today at 11190 as can be seen in the chart above. The Nifty index sightly moving up towards the resistance of 11400. If the Nifty index breaks and closed above 11365 on the hourly chart then again it can go up to 11500 to 11600. If the index breaks and closes below 11200 on the hourly chart then the downtrend will continue.
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Trading zone for the Nifty index on 14th October 2019
Upside Resistance:- 11385, 11460,11545.
Downside Support:- 11285, 11200, 11090.
In the Nifty 50, 35 stocks traded in green whereas the 15 were declined on 11th October 2019.
Top 5 Nifty Gainer and Loser
The most active value wise stocks were, TCS, IBULHSGFIN, INFY, INDUSINDBK, YESBANK and the volume-wise were YESBANK, IDEA, IBULHSGFIN, SBIN, TATAMOTORS.