On Tuesday the market opened higher and stayed highly volatile during the day. In the Maharashtra political quandary and the market traded in high volatility. On the closing bell, the Nifty index ends above 12000, Niftybank settled at 31718.35 and the Sensex closed at 40821.30. The Nifty index and the Sensex loses –36.05, –68 points each whereas the Niftybank index gains 162.45 points respectively. Today ICICI BANK, GAIL, ZEEl, Infratel among the top market movers.

Today, the Nifty index opened at 12110.20 went up to 12132.45 and closed at 12037.70 after making a low of 12006.35. The Niftybank index opened at 31692.85 and stayed volatile between 31850.35 to 31465.85 and closed at 31718.35. Sensex opened at 41022.85 and made a high 41120.28 low 40710.20 and closed at 40821.30.

As per the last view, ‘if the Nifty index holds above 12000 then again it can go up to 12130 to 12200. If the Nifty index breaks and sustains below 12000 then further it can fall towards 11940 to 11850’ and today the index holds 12000 and breaks all-time high.

For the next trading, ‘If the Nifty index holds 12000 then the upside rally will continue. If the Nifty index breaks and sustains below 12000 then again it can fall till 11900.

The Nifty index is moving up by following an uptrend line as can be seen in the chart above. It is moving up and formed near support of 11935 and 11885. Today the market opened on positive but the profit booking saw on the higher level hence the market fell and closed negatively. Technically, the market has broken its trading zone of 11800 to 12000 and now it will further move up. Currently, the Nifty index holding 12000, breaking this can be offset for the buyer. Indicators are showing the negative momentum on the hourly chart. MACD showing negative cross over and the Stochastic, RSI also moving down. The market will be volatile and range bound.

NEWS HIGHLIGHTS

  • OPEC should make the right call for the fragile world economy: IEA’s Birol.
  • Moody reviews BPCL’s rating for downgrade on government stake sale.
  • NSE, BSE to exclude F&O contracts on Tata motors.
  • Karvy group- Pledged around Rs. 500cr Rs 20-30 cr in client dues will be cleared by the weekend.
  • Hindustan zink appoints Arun Mishara as deputy CEO.
  • DoT asks PSUs like GAIL and Power grid to pay AGR dues.
  • Vistara and SBI launch co-branded credit cards.
  • TVS launches BSVI compliant Apache RTR 160 4V and Apache RTR 200 4V.
  • Tejas Networks signs a pact with Bharat Electronics.
  • L&T share price falls on credit Suisse downgrade target by 16%.
  • CSB bank Rs. 410cr IPO oversubscribed by more than 87 times.
  • Zee Entertainment share price slips 9% after chairman Subhash Chandra resignation.

Trading zone for the Nifty index on 27th November 2019

Upside Resistance:-    12060, 12110, 12185.

Downside Support:-  12000, 11935, 11800.

Nifty 50

Advances Declines
18 32

In the Nifty 50, 18 stocks traded in green whereas the 32 were declined on 26th November 2019.

Top 5 Nifty Gainer and Loser

Gainer % Loser %
ICICIBANK 3.05 ZEEL -7.34
GAIL 2.46 INFRATEL -6.52
DRREDDY 1.86 GRASIM -4.36
INDUSINDBK 1.53 BHARTIARTEL -4.03
TATASTEEL 1.38 JSWSTEEL -2.71

The most active value wise stocks were ICICI BANK, SBILIFE, YES BANK, IBULHSGFIN, HDFCAMC and the volume-wise were IDEA, YES BANK, ICICIBANK, IBULHSGFIN, DLF.