On Tuesday, the market opened higher and also closed in green. The market was volatile during the morning trading session. On the closing bell, the Nifty index reclaim and closed above 11900, Niftybank index settled above 31200 and the Sensex ends above 40450. The Nifty index gains 55 points, Niftybank gains around 250 points and the Sensex gains 185 points. Telecom and banking was on the top in which Infratel, Bhartiartl, Axis Bank were the top leaders in the market.
Today, the Nifty index opened at 11919.45 went up to 11958.85 and closed at 11940.10 after making the low of 11881.75. The Niftybank index opened at 31045.15 and stayed volatile between 31300 to 30974.30 and closed at 31236.25. Sensex opened at 40455.36 made a high of 40554.13 low 40290.21 and closed at 40470.
As per the last view, ‘if the Nifty index breaks and holds above 11900 then it can go up to 11980 to 12000 and if the Nifty index breaks 11865 then further it can fall towards 11800’ today the market opened above 11900 and went up to 11960.
For the next day trading if the Nifty index holds 11925 and breaks 11973 then it will continue to go upside till 12025. If the Nifty index breaks below 11900 then further it can fall towards 11850 to 11800.
From the above chart, it can be seen that the index is facing support and resistance within the range. It also can be seen that the Nifty index opened higher and closed in the hands of bulls. From the above hourly chart, it can be seen that the last hour candle is a bullish hammer candle which is a signal that the bulls have taken the market in their hands. The index is moving up by following an uptrend line from 11800. It seems that the market will be positive and can continue its upside movement. Indicators are showing positive momentum on the hourly chart.
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Trading zone for the Nifty index on 20th November 2019
Upside Resistance:- 11975, 12004, 12010.
Downside Support:- 11925, 11850, 11775.
In the Nifty 50, 24 stocks traded in green whereas the 26 were declined on 19th November 2019.
Top 5 Nifty Gainer and Loser
The most active value wise stocks were SBILIFE, BHARTIARTL, RELIANCE, YESBANK , ICICIBANK, and the volume-wise were IDEA, YESBANK, BHARTIARTL, SBILIFE, 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.