On a Friday, the Nifty index, Niftybank, and Sensex were open lower. The market was down at the opening and stay highly volatile during the trading session. The market was recover in the hope of rolling back FPI surcharges and hence, the Sensex was closed with the gain of 228.23 points and Nifty index 88 points while Niftybank settled in red lost -75.55 points.

Today, the Nifty index opened at 10699.60 made a high of 10862.55 and settled at 10829.35 after making the low of 10637.15. Sensex opened at 36387.68 and traded in between 36807.34 to 36102.35. The Niftybank opened at 26835.35 and stayed highly volatile in the range of 27207.30 to 26560.60 closed at 26958.65.

As per our last view ‘If the Nifty index will trade continue below of 10790 then the next support of 10600 will be achieved soon’ and today’s low is 10637.15.

For the next trading day, if the Nifty index will stay above 10775 and break 10860 then it can go up to the 1092511000. If the Nifty index will trade and sustain below 10775 then again it can fell towards 10600.

The Nifty index is in a falling trend and is below its major resistance of 200 moving averages as in the chart above. Today the Nifty index closed in the green after the continuous fall of four days. As we can see in the chart above the Nifty index closed below its resistance of 10860. Indicators like MACD, Stochastic RSI are showing downward momentum. These all are an indication of weakness in the market. Technically, the market looks weak but stay cautious because of volatility.

Trading zone for 26th August 2019 of the Nifty index

Upside Resistance:-    10950, 11000, 11100.

Downside Support:-  10775, 10690, 10550.

Nifty 50

Advances Declines
41 09

In the Nifty 50, only 41 stocks traded in green whereas only 09 were declined on 23rd August 2019.

Top 5 Nifty Gainer and Loser 

Gainer % Loser %
ZEEL 6.55 INDUSINDBK -1.78
UPL 6.18 ITC -1.50
VEDL 5.70 EICHERMOT -0.94
YESBANK 5.60 ICICIBANK -0.80
BPCL 5.22 KOTAKBANK -0.60

The most active value wise stocks were YESBANK, IBULHSGFIN, RELIANCE, HDFCBANK, ICICIBANK and the volume-wise were YESBANK, TATAMOTOTRS, SBIN, ICICIBANK, IBULHSGFIN.