On Tuesday the market not only opened red but also settled in the red. The market was highly volatile and the selling pressure faces on every pull back. On the closing bell, the Nifty index ends above 12150, the Niftybank index not holds 31000 and the Sensex closed at 41324. The Nifty index loses -55 points, Niftybank index loses around -150 and the Sensex loses more than -200 points.
Today, the Nifty index opened at 12186.05 went up to 12230 and closed at 12170 after making a low of 12169.75. The Niftybank index opened at 30938.10 and stayed volatile between 31170 to 30865 and closed at 30947.55.
As per the last view, ‘if the Nifty index holds above 12213 then it can go up to 12280 to 12300 and if the Nifty index breaks and sustains below 12200 then further downward will continue in the coming days’ and today the index fell till 12162 after sustaining below 12200.
For the next day trading, if the Nifty index holds above 12135 then upside rally can be expected. If the Nifty index breaks above 12190 then it can go up to 12200 or more in the coming session.
Today the market was traded under the selling pressure and closed negatively. As can be seen in the above chart the Nifty index taking temporary support near 12160 and trading below 50 simple moving averages and 50 exponential moving averages. Overall the market is positive but in the short term, profit booking can be seen on the upper level. Technically, the market is positive on the longer chart but the market remains volatile and can move uncertainly.
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Trading zone for the Nifty index on 22nd January 2020
Upside Resistance:- 12190, 12215, 12325.
Downside Support:- 12162, 12145, 12120.
In the Nifty 50, only 12 stocks traded in green whereas the 37 was declined and one was unchanged on 21st January 2020.
Top 5 Nifty Gainer and Loser
The most active value-wise stocks were BHARTIARTL, RELIANCE, SBIN, HDFCBANK, KOTAK BANK and the volume-wise were YES BANK, BHARTIARTL, IOC, SBIN, INFRATEL.