On Thursday the market opened higher and traded the upper side whole day. The market gains the consecutive second day. On the closing bell, the Nifty index ends above 11950, Niftybank index settled at 31665 and the Sensex closed above 40550. The Nifty index gains 61.65 points, Niftybank gains more than 400 points and the Sensex gains around 170 points.
Today, the Nifty index opened at 11944.30 went up to 12005.50 and closed at 11971.80 after making the low of 11934. The Niftybank index opened at 31356.80 and stayed volatile between 31711.45 to 31352.10 and closed at 31665.45.
As per the last view, ‘If the Nifty index stays above 11885 then it can go up to 11925 to 12000 and if the Nifty index breaks and sustains below 11880 then again it can fall towards 11800’ and the index stayed above 11880 and went up to 12005.
For the next day trading, if the Nifty index holds above 11985 and breaks 12005 then the upside rally will continue. If the Nifty index breaks and sustains below 11970 then again it can fall till 11920 to 11850.
Above is a Nifty index’s hourly chart. From the above chart, it can be seen that the index just cross the uptrend line but sustaining below it. If the index breaks and sustains above downtrend line then the market will go up and if it breaks and sustains above 12000 then more upside level can be seen in the coming days.
- HDFC becomes the 5th firm to cross Rs 4 lakh crore in market capital.
- Ujjivan small finance bank listed at 58.75 against the issue price of Rs 37.
- Cab unrest in Assam – Airlines cancel flights, share information on bookings.
- Edelweiss MF launches Bharat bond ETF, offer to end on December 20.
- RIL arm picks up majority stake n NowFloats for Rs 142 cr.
Trading zone for the Nifty index on 13th December 2019
Upside Resistance:- 12006, 12042, 12115.
Downside Support:- 11970, 11922, 11825.
In the Nifty 50, 37 stocks traded in green whereas the 13 were declined on 12th December 2019.
Top 5 Nifty Gainer and Loser
The most active value wise stocks were YES BANK, TCS, UJJIVANSEB, IBULHSGFIN, SBIN and the volume-wise were YES BANK, UJJIVANSEB, IDEA, TATAMOTORS, IBULHSGFIN.