On Monday, the market opened in red and settled negatively. The market was choppy but after the second half it volatile. On the closing bell, the Nifty index ends above 12250, Niftybank index settled at 32339.45 and the Sensex closed at 41642.66. The Nifty index loses –9.05 points, Niftybank index loses –45.50 points and the Sensex loses –39 points each.
Today, the Nifty index opened at 12235.45 went up to 12287.15 and closed at 12262.75 after making the low of 12213.25. The Niftybank index opened at 32381 and stayed volatile between 32503 to 32196.85 and closed at 32339.45.
As per the last view, ‘if the Nifty index breaks and sustain above 12294 then it can go up to 12350 and if the Nifty index sustains below 12294 and breaks 12250 then it can fall till 12230 to 12190’ and the index fell till 12213.25 and went up to 12287.
Fort he nex day trading, if the Nifty index breaks and sustains below 12250 then it can fall till 12213 to 12190. If the Nifty index breaks above 12295 then it can go up to 12350 to 12400.
Above is the Nifty’s hourly chart is showing the upwards momentum. The index may continue its upward movement if it breaks and sustain above 12295 then uptrend will continue. The last hour a long bullish candle of the Nifty index represents the bulls still have the potential to take the market on record highs. Technically, the market looks strong and also it is realized that profit booking can be seen on the upper level.
- Europian entities looking to invest up to $1 billion in Yes bank.
- MCA moves NCLAT to seek a review of Tata sons vs Mistry.
- Tata power to own license for distribution, the retail supply of electricity in five circles in Odisha.
- Indiabulls Real Estate sells commercial assets in Gurugram, Mumbai to Blackstone for Rs 810 cr.
- Vascon Engineers JV firm sells 8-acre land in Pune to Mapletree investment for rs 170 cr.
- Mankind pharma inks licensing pact with Glenmark to a co-market diabetes drug.
- Lone Star funds to acquire BASF’s construction chemical business for EUR 3.17 bn.
Trading zone for the Nifty index on 24th December 2019
Upside Resistance:- 12300, 12350, 12400.
Downside Support:- 12250, 12220, 12180.
In the Nifty 50, 28 stocks traded in green whereas the 21 were declined and one was unchanged on 23RD December 2019.
Top 5 Nifty Gainer and Loser
The most active value wise stocks were RELIANCE, YES BANK, SBIN, TATASTEEL, AXISBANK and the volume-wise were YES BANK, SBIN, TATAMOTORS, ZEEL, ITC.
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.