On Friday the market opened almost flat to positive later sleeps and in the last hour of the session, it was covered and closed in the green. The market was very much volatile today and traded on the both the side. On the closing bell, the Nifty index closes above 8700, Niftybank index closed above and hold 20300 and the Sensex settled below 30000. The Nifty index gained around 500 points, Niftybank index gains around 250 points and the Sensex gained more than 1600 points in a single day.
Today, the Nifty index opened at 8284.45 went up to 8883 and closed at 8745.45 after making the low of 8178.20. Niftybank index opened at 19898.30 and stayed volatile between 20924.55 to 19265 and closed at 20317.60.
As per the last view, ‘if the Nifty index breaks and sustains below 8200 then the fall will continue and it can fall towards 7900 to 7675 and if the market recovers and bounce then it can go up to 9000‘ today the Nifty index broke 8200 but not sustained below it and bounce till 8883.
For the next trading, if the Nifty index stays above 8600 then it can go up to 9020 to 9400 in the coming days. If the Nifty index breaks and sustains below 8600 then it can fall to 8000 even more.
The global market affected by the coronavirus along with other markets. Nowadays the whole world is fighting with the virus which has taken all in its arms. The effect of the virus can be seen in the above char, how the share market is falling. Today the market stayed highly volatile and traded many up and down have been seen. The rising and spreading of the virus will lead the market down in the coming days. Technically, the Nifty index may go up to 9000 to 9400 on the upside but the fear of the virus will pull the market down.
- PM Modi’s COVID-19 task force to meet today.
- RBI to buy govt bonds worth rs. 30,000 cr in two tranches on March 24 and 30.
- Yes Bank co-founder Rana Kapoor sent to judicial custody till April 2nd.
- Yes Bank to raise Rs 20,000cr through the certificate of deposit.
- Gautam Adani, the family put up an additional $ 1.4bn shares as collateral.
- Star Health launches policy to cover Covid-19 patients without travel history exclusion.
- Escort share price climbs on the report of Kubota tractor buying the stake.
- ITC stock sees 32% in 2020: Brokerages expect double-digit growth.
Trading zone for the Nifty index on 23rd March 2020
Upside Resistance:- 9020, 9300, 9500.
Downside Support:- 8600, 8320, 7900.
In the Nifty 50, 46 stocks traded in green and whereas the only 04 were declined on 20th March 2020.
Top 5 Nifty Gainer and Loser
The most active value-wise stocks were HDFC BANK, ICICI BANK, RELIANCE, HDFC, BAJAJ FINANCE and the volume-wise were ONGC, ICICI BANK, TATAMOTORS, SBIN, POWERGRID.
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.