On Friday, the market opened higher and stayed bullish. The market traded on the higher side and reclaim almost the last two days’ losses. On the closing bell, the Nifty index ends just below 12250, Niftybank index settled above 32400 and the Sensex closed at 41575. The Nifty index gains 119.25 points, Niftybank index and Sensex gains more than 400 points each.
Today, the Nifty index opened at 12172.90 went up to 12258.45 and closed at 12245.80 after making the low of 12157.90. The Niftybank index opened at 32142.50 and stayed volatile between 32445 to 32056.25 and closed at 32412.35.
As per the last view, ‘if the Nifty index breaks and sustains above 12156 it can go up to 12190 to 1220 and if the Nifty index breaks below 12118 then it can further fall below 12100 to 12050’ and today the index went up to 12258 after breaking above 12156.
For the next day trading, if the Nifty index breaks above 12260 then it can go up to 12295 to 12325. If the Nifty index breaks below 12220 then it can fell till 12190 to 12120.
It can be seen that from the above hourly chart of the Nifty index, it is moving upside. The last candle is a long bullish candle that shows the buyer’s strength in the market. The close support of the index is 12200 if it is broken then the index may fall till 12120 and more. Technically, the market looks strong and it seems that the upside rally will continue but profit booing can be seen on the higher level in the coming days.
- The banking sector net NPA may improve by March-end.
- SBI to launch OTP-based cash withdrawal at all its ATMs from Jan 1 onward.
- MCA plans to introduce frequent filing for large unlisted companies.
- Allahabad Bank gets fresh capital of Rs 2153 cr from govt.
- Indian Railway Finance Corp garner Rs 1580 cr on BSE bond platform.
- Govt ups capital infusion in IOB to Rs 4360 cr.
- Airtel Payments Bank enables 24×7 NEFT transfer.
- Page industries share price up after ICRA retains a stable rating.
Trading zone for the Nifty index on 30th December 2019
Upside Resistance:- 12295, 12325, 12350.
Downside Support:- 12220, 12180, 12120.
In the Nifty 50, 42 stocks traded in green whereas the only 08 were declined on 27th December 2019.
Top 5 Nifty Gainer and Loser
The most active value wise stocks were RELIANCE, SBIN, AXISBANK, YES BANK, ICICBANK and the volume-wise were YES BANK, SBIN, VEDL, ZEEL, 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.