On Wednesday, the market opened positive and stayed in the green. The market maintained its positive opening and closed on the higher side. On the closing bell, the Nifty index closed just below 12000, Niftybank index settled above 31350 and the Sensex ends above 40650. The Nifty index gains 59 points, Niftybank gains around 120 points and the Sensex gains 182 points. Today the pharma sector leads the market, Sunpharma, and Drreddy among the top gainers.
Today, the Nifty index opened at 12004.75 went up to 12038.60 and closed at 11999.10 after making the low of 11966.05. The Niftybank index opened at 31292.35 and stayed volatile between 31471.65 to 31205.55 and closed at 31353.85. Sensex opened at 40729.80 made a high of 40816.38 low 40575.96 and closed at 40651.64.
As per the last view, ‘if the Nifty index holds 11925 and breaks 11973 then it will continue to go upside till 12025 and if the Nifty index breaks below 11900 then further it can fall towards 11850 to 11800’ and today the index opened higher and went up to 1238.60 after breaking 11973.
For the next day trading if the Nifty index breaks sustain above 12040 then further it can move up towards 12150.If the Nifty index sustains below 12000 and breaks 11965 then it can fall towards 11900 to 11850.
Above is the hourly chart of the Nifty index. From the chart above it can be seen that the Nifty index is moving up by following an uptrend line from 11800. Today the index crossed a sentiment level of 12000 but unable to hold and closed just below it. Technically, the market looks positive and can keep continuing its upward move in the coming days. If the Nifty index fall then it fell till 11965 to 11945 as per the chart. Today, on the hourly chart the Nifty index broked out 12021 with a bullish spinning top candle. As per our view, the market looks positive and it will go up in the coming days. Indicators and movements of the market suggesting positive signals.
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Trading zone for the Nifty index on 21st November 2019
Upside Resistance:- 12035, 12075, 12150.
Downside Support:- 11960, 11900, 11850.
In the Nifty 50, 28 stocks traded in green whereas the 22 were declined on 20th November 2019.
Top 5 Nifty Gainer and Loser
The most active value wise stocks were RELIANCE, BHARTIARTL, YESBANK, IDEA, ICICIBANK and the volume-wise were IDEA, YESBANK, DISHTV, RCOM, BHARTIARTL.