On Tuesday the market opened flat and closed in positive. The market was highly volatile and uncertain. On the closing bell, the Nifty index ends above 12350, Niftybank index settled at 32071 and the Sensex closed above 41950. The Nifty index and the Sensex gains 32.75 and 92.94 points whereas the Niftybank index loses more than –100 points each.
Today, the Nifty index opened at 12333.10 went up to 12374.25 and closed at 12362.30 after making a low of 12308.70. The Niftybank index opened at 32196.45 and stayed volatile between 32196.45 to 31989.20 and closed at 32071.65.
As per the last view, ‘if the Nifty index stays above 12315 then it can go up 12350 to 12420 and if the Nifty index sustains below 12315 then it can fall till 12290 to 12265‘ and the index went up to 12374 after making the low of 12308.
For the next day trading, if the Nifty index holds above 12345 then further upside rally can be seen till 12390 to 12420. If the Nifty index breaks and sustains below 12345 then it can fall till 12300 or more.
Above is a daily chart o the Nifty index it can be seen that the index moving up after breaking the resistance. Technically, the market looks positive and attractive. The Chart and the indicators are in positive territory. 12300 will be the near term support holding above it will take the market on the new highs.
- Indusindbk bank Q3: PAT jumps 32% YoY despite higher provisions.
- Wholesale price-based inflation rises to 2.59% in December.
- CPI inflation at 7.35%.
- SEBI cancels the registration of stock broker Click2Trade Capital.
- SEBI bans former Diageo official for 7 years in insider trading cases.
- Canara Bank calls off stake sale in Can Fin Home.
- Govt to introduce cash recharge option for FASTags.
- India trade body wants a cap on refined palm oil imports.
- Fitch assigns a ‘BB‘ rating to Glenmark pharma.
- Govt appoints Michael Patra as RBI Deputy Governer.
Trading zone for the Nifty index on 15th January 2020
Upside Resistance:- 12390, 12420, 12480.
Downside Support:- 12345, 12320, 12280.
In the Nifty 50, 37 stocks traded in green whereas the 12 was declined and 1 was unchanged on 14th January 2020.
Top 5 Nifty Gainer and Loser
The most active value-wise stocks were INDUSINDBK, YES BANK, RELIANCE, INFOSYS, SBIN and the volume-wise were YES BANK, TATAMOTORS, SBIN, VEDL, 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.