On Tuesday the market opened higher and stayed volatile, settled in the red. The market was traded in volatility and again sell-off due to the Coronavirus fear. On the closing bell, the Nifty index ended below 11800, the Niftybank index settled below 30500 and the Sensex closed at 40281.20. The Nifty loses more than -30 points, Niftybank loses around -22 points and the Sensex loses over -80 points each.
Today, the Nifty index opened at 11877.50 went up to 11883.05 and closed at 11797.90 after making a low of 11779.90. The Niftybank index opened at 30517 and stayed volatile between 30610.70 to 30330 and closed at 30432.70.
As per the last view, ‘if the Nifty breaks below 11800 then it can continue its fall till 11750 to 11665 and if the Nifty index holds above 11900 then it can go up to 11980 to 12045 in the coming trading sessions’ today the index fell till 11780.
for the next day trading, if the Nifty index 11820 then it can go up to 11860 to 11925. If the Nifty index breaks below 11779 then it can fell till 11665 in the coming trading session.
From the above chart, it can be seen that the Nifty index has broken the support of 11800 and closes below it. Currently, the market is moving unexpectedly and trading in high volatility. Technically, the Nifty index may continue its fall as it has broken the downwards support line and closes below it. Tomorrow, most likely the market may go up and close positively as the momentum indicators losing their downside momentum.
Trading zone for the Nifty index on 26th February 2020
Upside Resistance:- 11820, 11925, 12025.
Downside Support:- 11755, 11715, 11665.
In the Nifty 50, 24 stocks traded in green and 24 were declined and one was unchanged on 25th February 2020.
Top 5 Nifty Gainer and Loser
The most active value-wise stocks were RELIANCE, SBIN, HDFC BANK, ICICI BANK, TATAMOTORS and the volume-wise were YES BANK, TATAMOTORS, SBIN, ONGC, 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.