The market fall continues in a third-day row. Today the market opened weakly and faced selling pressure at a higher level. On the closing bell, the Nifty index ends below 12150, the Niftybank index settled below 32000 and the Sensex closed at 41163.76. The Nifty index loses –88 points, Niftybank index loses –283 points and the Sensex loses around –300 points each.
Today, the Nifty index opened at 12211.85 went up to 12221.55 and closed at 12126.55 after making the low of 12118.85. The Niftybank index opened at 32276.15 and stayed volatile between 32314.60 to 31963.25 and closed at 31997.70.
As per the last view, ‘if the Nifty index breaks above 12235 then it can go up to 12265 to 12295 and if the Nifty index breaks below 12190 then it can fall till 12135’ and today the Nifty index opened below 12235 and slips till 12118 after breaking below 12190.
For the next day trading, if the Nifty index breaks and sustains above 12156 it can go up to 12190 to 12220. If the Nifty index breaks below 12118 then it can further fall below 12100 to 12050.
- Fund raising via IPOs 60% in 2019 as the economy sputters.
- Future Retails- Around 85% of revenue comes from Big Bazar and fbb.
- China commerce ministry says in close touch with the US on signing a trade deal.
- Govt plans a big push to Pvt coal mining, underground coal gasification.
- SEBI levies Rs 8 lakh fine on Intercom Finance.
- India set to cross the 10GW renewable energy capacity mark in 2020.
- IRDAI cautions SBI life insurance JV partner Cardif on take sale.
- Mannapuram Finance plans to raise up to Rs 350 crore via issuance NCDs.
Trading zone for the Nifty index on 27th December 2019
Upside Resistance:- 12256, 12295, 12255.
Downside Support:- 12118, 12090, 12050.
In the Nifty 50, 14 stocks traded in green whereas the 36 were declined on 26th December 2019.
Top 5 Nifty Gainer and Loser
The most active value wise stocks were RELIANCE, YES BANK, HDFCBANK, TATASTEEL, SBIN and the volume-wise were YES BANK, SBIN, ONGC, VEDL, TATAMOTORS.