On Thursday the market opened with a huge gap down and sleeps further and the Nifty fell till 9500 in the fear of coronavirus. The market was stayed bearish during the trading session and closed in the red losses worst in a single day. On the closing bell, the Nifty index closed below 9600, Niftybank index closed below 24000 and the Sensex settled below 33000. The Nifty index loses around -900 points, Niftybank index loses more than –2500 points and the Sensex lost more than -3000 points during the day, the biggest fall in a single day.
Today, the Nifty index opened at 10039.95 went up to 10040.75 and closed at 9590.15 after making the low of 9508. Niftybank index opened at 25175.90 and stayed volatile between 25223.10 to 23536.35 and closed at 23971.15.
As per the last view, ‘if the Nifty index, if the Nifty index holds above 10445 then it can go up to 10555 to 10700 and if the Nifty index breaks and sustains below 10300 then it can fall till 10000 or more’ and today the index near 10000 and fell till 9500.
For the next day trading, if the Nifty index sustains below 9700 then this fall will continue till 9000. On the upside, the Nifty index goes up to 9825 to 10000.
The market is falling every day under the fear of coronavirus which is affecting the markets globally. All the global indices not only trading under the bear’s pressure but also closing in their hands. Today the Indian market has fallen worst in a single day where the Sensex lost more than 3000 points intraday. The Nifty index may fall till 9000 in the coming days as the sellers are overlapping the buyers and market falling continuously. 9000 will be the next strong support for the Nifty index, from where the market may bounce and recover.
- Coronavirus pandemic grips D-Street and the Sensex lost more than 3000 points in a single day.
- RBI eyeing liquidity boosting steps to soothe markets.
- Mahindra & Mahindra inks pact to buy 13% more stake in associate.
- February retail inflation eases to 6.58%.
- Yes Bank- Debenture trustee ATSL writes to RBI seeking relief for AT1 bondholders.
- RBI to offer $2 bn worth US dollars on March 16 to soothe the forex market.
- GE Power India terminates Rs 818 cr contract with NECL.
- Reliance buys 2 million barrel extra Saudi oil for April loading.
Trading zone for the Nifty index on 13th March 2020
Upside Resistance:- 9715, 9920, 10245.
Downside Support:- 9500, 9385, 9180.
In the Nifty 50, 00 stocks traded in green and whereas the all 50 were declined on 12th March 2020.
Top 5 Nifty Gainer and Loser
The most active value-wise stocks were HDFC BANK, RELIANCE, SBIN, ICICI BANK, BAJAJ FINANCE and the volume-wise were YES BANK, TATAMOTORS, SBIN, ONGC, ITC.
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.