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Daily Analysis of Stock Market – NIFTY – 19th December 2019

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On Thursday, the market opened flat to positive and closed in green. The market was choppy and unpredictable hence traded in a narrow range. On the closing bell, the Nifty index ends above 12250, Niftybank index settled at 32241.45 and the Sensex closed above 41650. The Nifty index and the Sensex gain 38 points and 115 points each whereas the Niftybank index loses –2.80 points respectively.

Today, the Nifty index opened at 12223.40 went up to 12268.35 and closed at 12259.70 after making the low of 12191.15. The Niftybank index opened at 32281.65 and stayed volatile between 32328.35 to 32085.05 and closed at 32241.45.

As per the last view, ‘if the Nifty index holds above 12160 then the upside rally will continue towards 12350 and if the Nifty index breaks below 12200 then it can fall till 12135 to 12075’ today the index breaks 12200 but pulled back and went up to 12268 after holding above 12160.

For the next day trading, ‘if the Nifty index stays above 12165 then upside momentum will continue towards 12350 or more. If the Nifty index breaks below 12235 then it can fall till 12165 to 12085.

Above is the daily chart of the Nifty index. From the above chart, it can be seen that the index moving up following an upward wedge pattern. Technically, the market looks positive and the Nifty index can touch 12350 in the near term. 12165 is the near base support for the Nifty and the 12000 will be trend reversal points. The market giving every day new highs in trading in upward momentum.


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Trading zone for the Nifty index on 20th December 2019

Upside Resistance:-    12290, 12315, 12350.

Downside Support:-  12235, 12200, 12160.

Nifty 50

Advances Declines
27 23

In the Nifty 50, 27 stocks traded in green whereas the 23 were declined on 19th December 2019.

Top 5 Nifty Gainer and Loser

Gainer % Loser %
YESBANK 6.52 VEDL -2.49

The most active value wise stocks were RELIANCE, YESBANK, TCS , HDFC, TATAMOTORS and the volume-wise were YES BANK, IDEA, TATAMOTORS, DISHTV, JINDALSTEL.


GSI Team

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