On Tuesday, the market opened flat to positive and settled in the red. The market was trading in a narrow range in the early trading session, but in the last hour trading, it fell sharply. On the closing bell, the Nifty index ends below 12250, Niftybank index settled below 32300 and the Sensex closed at 41461.26. The Nifty loses –48.20 points, Niftynbank index loses –58.70 points and the Sensex loses –181.40 points each.

Today, the Nifty index opened at 12269.25 went up to 12283.70 and closed at 12214.55 after making the low of 12202.10. The Niftybank index opened at 32337.80 and stayed volatile between 32390.35 to 32246.05 and closed at 32280.75.

As per the last view, ‘if the Nifty index breaks and sustains below 12250 then it can fall till 12213 to 12190 and if the Nifty index breaks above 12295 then it can go up to 12350 to 12400’ and today the index slips to 12202 after breaking the 12250.

For the next day trading, if the Nifty index breaks above 12235 then it can go up to 12265 to 12295. If the Nifty index breaks below 12190 then it can fall till 12135.

From the above the hourly chart it can be seen that the  Nifty index trading in a range. The range of 12295 to 12190 levels is now decisive levels. Breaking up or down these levels will decide the further movement. The Nifty index facing resistance at 12295 and trading with the near base of 12135. Eventually, the market can fall as the GST council want to changes its tax slabs on selected items. Technically, the market looks strong and currently, it can correct till 12190 to 12135 in the coming days.

NEWS HIGHLIGHTS

  • SEBI proposes to discontinue usage of pool accounts for mutual fund transactions.
  • IFCI mops up Rs 806 cr by selling a stake in NSE so far.
  • RBI purchases Rs 10,000 cr G-Secs, sxells Rs 6,825 cr securities via OMOs.
  • Royal Bank of Scotland buys a 1.8% stake in Lux Ind, ICICI Pru sells over 1 cr NALCO shares.
  • GIC to invest Rs 434 cr in Prestige Estates.
  • Cabinet clears ordinance to further amend insolvency law.
  • CBI books former Maruti chief Jagdish Khattar for defrauding PNB.
  • IMF says India in midst of a significant economic slowdown, calls for urgent policy actions.

Trading zone for the Nifty index on 26th December 2019

Upside Resistance:-    12235, 12265, 12315.

Downside Support:-  12185, 12150, 12070.

Nifty 50

Advances Declines
24 26

In the Nifty 50, 24 stocks traded in green whereas the 26 were declined on 24th December 2019.

Top 5 Nifty Gainer and Loser

Gainer % Loser %
YESBANK 3.02 BPCL -2.72
CIPLA 2.00 HCLTECH -1.74
INDUSINDBK 1.32 RELIANCE -1.71
JSWSTEEL 1.16 EICHERMOT -1.42
ONGC 0.76 UPL -1.32

The most active value wise stocks were RELIANCE, YES BANK, SBIN, INDUSINDBK, HDFC and the volume-wise were YES BANK, SBIN, ZEEL, TATAMOTORS, TATASTEEL.