On Wednesday the market opened lower and stayed volatile, settled in the red. The market was traded in volatility and again sell-off and broked 11700 due to the Coronavirus fear. On the closing bell, the Nifty index ended below 11700, the Niftybank index settled just above 30300 and the Sensex closed below 40000. The Nifty loses more than -100 points, Niftybank loses around -126 points and the Sensex loses almost -400 points each.
Today, the Nifty index opened at 11738.55 went up to 11783.25 and closed at 11678.50 after making a low of 11639.60. The Niftybank index opened at 30280 and stayed volatile between 30515.35 to 30131.75 and closed at 30306.85.
As per the last view, ‘if the Nifty index 11820 then it can go up to 11860 to 11925 and if the Nifty index breaks below 11779 then it can fell till 11665 in the coming trading session’ and today the index opened lower and tank below 11700 and makes the low of 11639.60.
For the next day trading, if the Nifty index stays above 11700 then it can go up to 11780 to 11875. If the Nifty index breaks below 11600 then the market will fall continue towards 11500 to 11100.
Now a days the market is facing selling pressure on the fear of Coronavirus as it spreading continues. The Nifty index reaches its near bottom of 11600, the level which decides the further trend of the market. If the Nifty will not hold 11600 then the sentiment of the buyers will disturb and huge selling pressure can be sawed in the coming trading session. Technically, the market is on a crucial level as it is forming a double bottom. If the earlier bottom will be broken then the market will fall sharply.
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Trading zone for the Nifty index on 27th February 2020
Upside Resistance:- 11700, 11760, 11850.
Downside Support:- 11600, 11555, 11410.
In the Nifty 50, 06 stocks traded in green and 44 were declined on 26th February 2020.
Top 5 Nifty Gainer and Loser
The most active value-wise stocks were RELIANCE, SBIN, HDFC, MARUTI, BHARTIARTL and the volume-wise were YES BANK, TATAMOTORS, SBIN, BHARTARTL, GAIL.