On Friday, the Nifty index, Sensex was opened with nominal gain while Niftybank index opened lower. The market has moved both sides and stayed volatile during the trading hours. On the closing bell, Sensex gains 281 points, the Nifty index closed above 11050 and Niftybank index settled with the gains of 280 points. Today banks and auto stocks lead the market.
Today, the Nifty index opened at 10986.80 went up to 11084.45 and closed at 11075.90 after making the low of 10945.75. The Niftybank index opened at 27772.20 and stayed volatile between 28126.85 to 27573.45 and closed at 28098.75. Sensex opened at 37175.86 made a high of 37413.50 low 37000.09 and closed at 37384.99.
As per our last view, ‘if the Nifty index sustains below 10960 then it can fall towards 10900 to 10890 and if the Nifty index break up and sustain above 11020 then again it can spurt till 11081 to 11150’ and today the Nifty index tank till 10945 and later move up to 11084.45 after sustaining above 11020.
For the next trading day, if the Nifty index sustains below 11035 then it can fall again till 11020 to 10945. If the Nifty index breaks up and sustains above 11082 then again it can spurt till 11145 to 11181.
Above is the Nifty index hourly chart is showing the market is moving up, trading in a range. The market moves up after taking the support of 10945. The Nifty index breaks the last day high hence the market can move up towards its next rest of 11150. The Nifty index is forming a triangle, break out or break down of this triangle will decide the next trend of the market. For now the market is trading in a range of 11181 to 10900.
Trading zone for the Nifty index on 16th September 2019
Upside Resistance:- 11085, 11125, 11181
Downside Support:- 11035, 10985, 10896.
In the Nifty 50, 41 stocks traded in green whereas the only 09 were declined on 13th September 2019.
Top 5 Nifty Gainer and Loser
The most active value wise stocks were, YESBANK, MARUTI, TATAMOTORS, HDFCBANK , IBULHSGFIN and the volume-wise were YESBANK, TATAMOTORS, SBIN, IOC, IBULHSGFIN.