On Wednesday, the Nifty index, Niftybank index, and Sensex were opened higher. The market opened in the gap up and closed positively. The bulls were maintained the momentum and hence the market gained consistently 5th day. Today the Nifty index, Niftybank index, and Sensex gained 32.65, 271.55 and 125.37 points respectively.
Today the Nifty index opened at 11028.50 made a high of 11054.80 low 11011.65 and closed at 11035.70. Niftybank index opened at 27639.05 went up to 27829.65 and settled at 27776.20 after making the low of 27551.65. Sensex was opened at 37251.03 and stayed volatile between 37343.46 to 37193.57 closed at 37270.82.
As per our last view, ‘if the Nifty index sustains above 10950 then the upside movement will continue and If the Nifty index stays above 11000 then it can go up to 11045 to 11150’ and today went up to 11054.80.
For the next trading day, if the Nifty index breaks and sustain below 11020 then it can fall till 11000 to 10950. If the Nifty index stays above 11050 then it can move up to 11100 to 11181.
Today the Nifty index closed below the resistance of 11045. From the above chart, it can be seen that the market is moving up on an upward channel. Technically, breaking up or down of the channel will decide the further trend of the market. The Nifty index today test the resistance and closed below it while moving up. The conversion in the MACD on the hourly chart is suggesting that the bears are ready to take the market in their hands.
The market is highly volatile and uncertain hence trade cautiously stays updated.
Trading zone for the Nifty index on 12th September 2019
Upside Resistance:- 11055, 11100, 11180.
Downside Support:- 11000, 10950, 10900.
In the Nifty 50, 25 stocks traded in green whereas the same 25 were declined on 11th September 2019.
Top 5 Nifty Gainer and Loser
The most active value wise stocks were, YESBANK, MARUTI, TATAMOTORS, HDFCBANK, HDFC and the volume-wise were YESBANK, TATAMOTORS, SBIN, ICICIBANK, 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.