On Friday, the spot Nifty and Sensex opened higher while Banknifty opened lower around -100 points. Today the market was highly volatile and spot Nifty traded in the zone of 11070 to 10924. After the second half, sudden buying we saw in the market. The Indian indices today closed with nominal gain.
Today, the spot nifty opened at 11043.65 made a high of 11068.65 low 10924.30 and settled at 11047.80. Sensex was opened at 37383 and stay volatile between 37445 to 36974. Banknifty opened lower at 27920.30 gone up to 28251.05 and traded between 28251.05 to 27720.95 closed at 28217.
As per our last view, below 11015 spot Nifty will be bearish and above it can move up. For the spot Nifty, 11010 levels will be the key point for the trading day 19 August 2019. On the higher side, spot Nifty can move up to 11300. If the spot Nifty will go below of 11010 then it can fall till 10870 on 19 August 2019.
It can be seen from the chart above, the spot Nifty is staying above its uptrend line on the hourly chart. The spot Nifty is trading below the resistance of 11080 followed by its uptrend line. Spot Nifty’s trading zone will be 11075 to 10970 for the coming days. Technically, if the spot Nifty broke the resistance of 11075 and sustain above then it can move up to 11180. If the spot Nifty will break 10970 levels then the downtrend will continue.
Trading zone for 19th August 2019
Upside Resistance:- 11100, 11160, 11300.
Downside Support:- 11000, 10970, 10850.
In the Nifty 50, 30 stocks traded in green where as 20 were declined on 16TH August 2019.
Top 5 Nifty Gainer and Loser
The most active value wise stocks were , IBULHSGFIN, HDFC, RELIANCE, YESBANK, HDFCBANK and the volume-wise were YESBANK, IBULHSGFIN, TATAMOTORS, SBIN, 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.