On Wednesday, The market had a gap up opening and it remained in green for the whole session. At the closing, the market closed in the green. The market was very much volatile today. The Nifty index closed at 13,682.70, The Nifty bank index closed above and hold 30,698.40, and the Sensex settled above 46,666.46. The Nifty index gained around 114.85 points, The Nifty bank index gained around 7.35 points, and the Sensex gained 403.29 points in a single day.
Today, the Nifty index opened at 13,663.10 went up to 13,692.35, and closed at 13,682.70, after making the low of 13,606.45. Nifty Bank index opened at 30,920.35 and stayed volatile between the high of 30,932.25, to the low of 30,587.10, and closed at 30,698.40.
According to the Nifty hourly chart, Nifty is following the bullish channel and higher high lower lows pattern in hourly charts. If Nifty breaks and sustains this channel upside, Then it can move towards 13,700 to 13,800 levels. Alternatively, If Nifty breaks and sustain downside, then it might retest 13,400 to 13,300 levels.
- Rupee settles 5 paise higher at 73.58 against US dollar.
- LeadSquared raises Rs 240 crore in a funding round led by Gaja Capital.
- Fiat Chrysler to set up a $150 million digital hub in Hyderabad.
- Axis Bank says report alleging Rs 44,000 crore exposure to SREI Group ‘grossly inaccurate’.
- FY21 GDP to contract at 7.4% on better recovery: SBI report.
- HG Infra Engineering share price rises 7% on order win.
- Ratnamani Metals rises 4% on order win worth Rs 105 crore.
- PNB share price plunges 8% a day after QIP opens.
- Vedanta shares jump 5% as reports suggest it plans to raise fund to buy a stake in BPCL.
Trading zone for the Nifty index on 16th December 2020
Upside Resistance:- 13,715, 13,746, 13,800.
Downside Support:- 13,629, 13,575, 13,543.
In the Nifty 50, 35 stocks traded in green and whereas only 15 were declined on 16th December 2020.
Top 5 Nifty Gainer and Loser
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The most active value-wise stocks were Reliance, Bajaj Finance, HDFC, ICICI Bank, HDFC Bank, and the volume-wise were Tata Motors, ONGC, NTPC, SBI, ICICI Bank.
FII and DII trading activity on NSE, BSE, and MSEI on Capital Market Segment as on 16th December 2020
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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.