On Monday, the major indices were opened higher. The spot Nifty, Senex and Niftybank opened with a gain of 47, 135.59 and 114.25 respectively. Today the market was highly volatile and suddenly fell after the second half of the trading session. However, Niftybank settled with a negative figure, spot Nifty and Sensex closed positive.
Today the spot Nifty opened at 11094.80 made high of 11146.90 low 11037.85 and settled at 11053.90. Sensex opened at 37485.92 and traded between 37718.88 to 37358.49. The Niftybank opened at 28331.25 spiked up to 28468.90 made a low of 28146.50 and closed at 28186.10.
As per our last view, spot Nifty is trading and sustaining above 11010 to 11030 and moving upside. For the spot Nifty, 11080 will be the level for going up or down on 20 august 2019. The spot nifty, on the higher side, can move up to 11150 to 11200 if breaks and sustain above 11080. If the spot Nifty will trade continue below of 11080 then it can move downside towards 11000 to 10900.
From the daily chart above of the spot Nifty 50, it can be seen that 11150 is a resistance. Spot Nifty is trading below its resistance and below the mid-off bolinger band. Today it closed in the hands of bears following price resistance of 11150. From the above chart, it can also be seen that the spot Nifty is making higher lows and consolidating below the resistance. Technically, breaking above 11150 can take the Nifty up, and breaking below 10990 will take the Nifty downside. The market looks weak and can sell on rising till 11200 cautiously.
Trading zone for 20th August 2019 of the spot Nifty
Upside Resistance:- 11122, 11190, 11300.
Downside Support:- 11010, 10970, 10860.
In the Nifty 50, 20 stocks traded in green whereas 30 were declined on 19TH August 2019.
Top 5 Nifty Gainer and Loser
The most active value wise stocks were , IBULHSGFIN, YESBANK, RELIANCE, AXISBANK, SBIN and the volume-wise were YESBANK, TATAMOTORS, IBULHSGFIN, SBIN, ITC.
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.