On Wednesday the market opened positively and stayed bullish, settled in the green. The market was stayed up and closed in the hands of bulls. On the closing bell, the Nifty index ended above 12200, the Niftybank index settled just below 31500 and the Sensex regains 41500 and closed at 41565.90. The Nifty index gains more than 90 points, Niftybank gains around 200 points and the Sensex gains 350 points respectively.
Today, the Nifty index opened at 12151 went up to 12231.75 and closed at 12201.20 after making a low of 12144.30. The Niftybank index opened at 31441.15 and stayed volatile between 31588.60 to 31398 and closed near 31500.
As per the last view, ‘if the Nifty index sustains above 12175 then further upside rally can be seen in the coming days and if the Nifty index sustains below 12125 then it can fall 12090 to 11990‘ and today the index wen till 12231 and made the low of 12144.30.
For the next day trading, if the Nifty index holds above 12185 then this up move will continue till 12265 to 12375 in the coming days. If the Nifty index break below 12185 then it can fall till 12160 to 12100.
The Nifty index was trading in the range of 12175 to 11990. Today the index has broken and settled above the range and claims the next resistance. From the above chart, it can be seen that the index moving up by taking support at 11990. Technically, the market looks positive and it can continue to move up towards 12275 in the near term. As momentum is slow on the indicators like MACD, RSI and Stochastic hence the market can be sell-off in near term.
- Govt lines up Rs. 1.3 lakh cr rural spend to boost growth.
- I-T Dept to share taxpayer’s PAN, other data with SEBI.
- DrReddy’s buys chunk of Wockhardt’s domestic formulation biz for Rs 1850 cr.
- Mahindra looks to launch 6PVs, 5CVs and 4 tractors in 2 years.
- JM Financial to raise Rs 300 cr in debt.
- IIP growth for December falls by 0.3%.
- Cabinet approves amendments to DTAA with Sri Lanka.
- Cabinet nod to Major Ports Authority Bill to replace existing law.
Trading zone for the Nifty index on 13th February 2020
Upside Resistance:- 12240, 12270, 12365.
Downside Support:- 12185, 12150, 12100.
In the Nifty 50, 33 stocks traded in green and 16 were declined 12th February 2020.
Top 5 Nifty Gainer and Loser
The most active value-wise stocks were SBIN, INDUSINDBK, HINDUNILVR, HDFC, RELIANCE and the volume-wise were YES BANK, SBIN, TATAMOTORS, COALIND, 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.