On Monday the market opened positive and stayed choppy. Today, the market was traded in a small range but suddenly fell and closed in negative during the closing session. On the closing bell, the Nifty index ends near 12050, Niftybank index settled at 31975 and the Sensex closed above 40900. The Nifty index loses –35.75 points, Niftybank index loses –40 points and the Sensex loses –71 points.
Today, the Nifty index opened at 12131.35 went up to 12135 and closed at 12054 after making the low of 12046.30. The Niftybank index opened at 32159 and stayed volatile between 32186.95 to 31897.75 and closed at 31974.20.
As per the last view, ‘if the Nifty index holds above 12065 and breaks above 12100 then it can go up to 12125 to 12145 and if the Nifty index breaks and sustains below 12020 then it can fall towards 11900 to 11850’ and the index went up to 12135 after breaking 12100 and makes low of 12046.30.
For the next day trading, ‘if the Nifty index breaks and breaks above 12080 and sustains above 12100 then it can go up to 12165 to 12250. If the Nifty index breaks below 12020 then it can again fell towards 11970 to 11900.
Today, the market opened on the higher side as can be seen in the chart above. Technically, the market looks positive. On the hourly chart, the indicators such as MACD, RSI, and Stochastic are suggesting that the profit booking can be seen from the upper side in the coming days. Today the market traded in the selling pressure and at the end sudden fall we have seen.
- WPI inflation rises by 0.58% in November.
- GSK to sell a 6% stake in Hindustan Uniliver for $3.7bn.
- The center releases GST compensation worth Rs 35,298 crore to the state.
- Reliance Industries topples IOC to become India’s largest company.
- Insolvency resolution of Ruchi Soya under IBC likely to be completed on December 16.
- PMC bank scam: ED files charge sheet against HDIL promoters.
Trading zone for the Nifty index on 17th December 2019
Upside Resistance:- 12080, 12110, 12165.
Downside Support:- 12020, 11985, 11900.
In the Nifty 50, only 13 stocks traded in green whereas the 37 were declined on 16th December 2019.
Top 5 Nifty Gainer and Loser
The most active value wise stocks were IBULHSGFIN, TCS, SBIN, RELIANCE, HDFC and the volume-wise were YES BANK, IDEA, UJJIVANSFB, IBULHSGFIN, DISHTV.
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.