On Tuesday, the market opened higher and closed in green. The market stayed bullish during the trading session and ends at a record high. On the closing bell, the Nifty index closed above 12150, Niftybank index settled above 32100 and the Sensex closed at 41352.17. The Nifty index gains more than 100 points, Niftybank gains 166 points and the Sensex gains 413.45 points.
Today, the Nifty index opened at 12082.45 went up to 12182.75 and closed at 12165 after making the low of 12070.35. The Niftybank index opened at 32082.40 and stayed volatile between 32213.35 to 31987.35 and closed at 32140.25.
As per the last view, ‘if the Nifty index 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 index went up to after holding 12080.
For the next day trading, if the Nifty index holds above 12135 then the upside rally will continue till 12200 to 12250. If the Nifty index breaks and sustains below 12135 then it can fell till 12085.
The index is moving up after breaking the downtrend line as can be seen in the chart above. Today the index closed on a record high and also settled above the resistance. Technically, the Nifty index settled above the resistance of 12158 on the hourly chart which shows the market is in the bullish mode and the rally will continue in the coming days.
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Trading zone for the Nifty index on 18th December 2019
Upside Resistance:- 12200, 12250, 12310.
Downside Support:- 12135, 12080, 11950.
In the Nifty 50, 39 stocks traded in green whereas the 11 were declined on 17th December 2019.
Top 5 Nifty Gainer and Loser
The most active value wise stocks were HDFC, RELIANCE, TATASTEEL, TCS, BHARTIARTL and the volume-wise were IDEA, YES BANK, UJJIVANSFB, JINDALSTEL, SAIL.