On the third straight day, the market opened higher and settled in green. On Friday the traded on the higher side and stayed up. On the closing bell, the Nifty index ends near 12100, Niftybank index settled above 32000 and the Sensex closed above 41000. The Nifty index gains 115 points, Niftybank gains around 350 points and the Sensex gains 428 points each.
Today, the Nifty index opened at 12026.40 went up to 12098.85 and closed at 12086.70 after making the low of 12023.60. The Niftybank index opened at 31775.55 and stayed volatile between 32105.05 to 31770.50 and closed at 32014.25.
As per the last view, ‘if the Nifty index holds above 11985 and breaks 12005 then the upside rally will be continue and if the Nifty index breaks and sustains below 11970 then again it can fall till 11920 to 11850’, today the market opened higher and the index went to 12100 as it was opened above 12005.
Fort the next day trading, if the Nifty index holds above 12065 and breaks above 12100 then it can go up to 12125 to 12145. If the Nifty index breaks and sustains below 12020 then it can fall towards 11900 to 11850.
From the hourly chart of the Nifty index, it can be seen that the index has broken the resistance of 12081 and today went up to 12100. Today the Nifty not only opened above the downtrend line but also closed above it, which suggests that the upside rally can be continued in the coming days. The Nifty index may face resistance at 12125 and if it breaks then new highs can be seen.
- Yes Bank seeks SEBI exemption for its Rs 2000 cr QIP in January.
- I-T Department issues tax refunds of Rs 1.57 lakh cr till November: Revenue Secy.
- Shapoorji Pallonji Group sells more shares in the open market.
- Magma fincorp raises rs 350 cr via private placement of NCDs.
- India exported 37 lakh tonne sugar in the 2018-19 marketing year.
- Moody’s cuts India’s GDP growth forecast to 5.6% for 2019.
Trading zone for the Nifty index on 16th December 2019
Upside Resistance:- 12125, 12145, 12220.
Downside Support:- 12065, 11990, 11920.
In the Nifty 50, 38 stocks traded in green whereas the 12 were declined on 13th December 2019.
Top 5 Nifty Gainer and Loser
The most active value wise stocks were IBULHSGFIN, TATAMOTORS, SBIN, TCS, AXIS BANK and the volume-wise were IDEA, YES BANK, TATAMOTORS, IBULHSGFIN, SAIL.
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.