On Friday the market opened flat to positive and stayed bullish. The market was highly volatile and pulled back and closes above the last three days high. On the closing bell, the Nifty index ends near 12250, the Niftybank index not reclaimed 31500 and settled at 31241 and the Sensex closed at 41613. The Nifty index gains 68 points, Niftybank index gains more than 225 points and the Sensex gains more around 250 points.
Today, the Nifty index opened at 12174.55 went up to 12272.15 and closed at 12248.25 after making a low of 12149.65. The Niftybank index opened at 31040.10 and stayed volatile between 31375 to 30879 and closed at 31241.75.
As per the last view, ‘if the Nifty index holds above 12150 then it can go up to 12213 to 12250 and if the Nifty index breaks and sustains below 12150 then again it can fall till 12095 to 12000 in the coming days’ and today the index went up to 12272 after making the low of 12149.65.
For the next day trading, if the Nifty index holds above 12220 then it can go up to 12300 to 12350. If the Nifty index breaks and sustains below 12210 then again it fall till 12175 to 12100.
Today the market closed in the hands of bull. From the above chart, it can be seen that the index is taking support near 12050 to 12090 and moving up. The index today broke its near resistance of 12225 and closed above it. Technically, the market is bullish and it can reclaim its recent high in the coming days. The market is in a range bound and in a consolidation mode.
- Ultra Tech Cement misses street estimates reports 48.5% jump in standalone net profit.
- SEBI cautions investors against dealing with PACL properties.
- India faces the first fall in the direct taxes in at least two decades.
- IMF Chief- Growth slowdown in India temporarily expect the momentum to improve going ahead.
- Bajaj Triumph to jointly challenge Royal Enfield, launch the first bike in 2022.
- India and the US agree to resolve amicably dispute over steel import duty,
- NLC India to raise Rs 525 crore via bonds.
- Coffee Day decided to sell Way2wealth securities.
Trading zone for the Nifty index on 27th January 2020
Upside Resistance:- 12300, 12350, 12400.
Downside Support:- 12210, 12175, 12100.
In the Nifty 50, 36 stocks traded in green whereas the 14 was declined on 24th January 2020.
Top 5 Nifty Gainer and Loser
The most active value-wise stocks were YES BANK, BHARTIARTL, RELIANCE, ULTRACEMCO, ICICI BANK and the volume-wise were YES BANK, IOC, BHARTIARTL, SBIN, TATAMOTORS.
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.