On Wednesday the market opened higher and closed positive. The market stayed positive and traded on the higher side. On the closing bell, the Nifty index ends above 12100, Niftybank index settled at 31875 and the Sensex closed above 41000. The Nifty index gains 63 points, Niftybank index gains more than 150 points and the Sensex gains 200 points. Yes Bank, Infratel, SBIN, and LT among the top market movers.
Today, the Nifty index opened at 12068.50 went up to 12114.90 and closed at 12100.70 after making the low of 12055.15. The Niftybank index opened at 31832.75 and stayed volatile between 31916.80 to 31734.50 and closed at 31875. Sensex opened at 40979.39 and made a high 41075.76 low 40848.70 and closed at 41020.61.
As per the last view, ‘If the Nifty index holds 12000 then the upside rally will be continued and if the Nifty index breaks and sustains below 12000 then again it can fall till 11900’ and today the index opened higher went up to 12114.
For the next day trading, if the Nifty index sustains above 12025 then the upside rally will continue. If the Nifty index breaks below then again it can fall downside towards 11900.
From the above chart, it can be seen that the index going up and making higher highs and lower highs on the hourly chart. It can also be seen that the Nifty index bounced back from 11800 to 12040 then it corrected to 11885. The index went above 12100 after taking support at 11885 as can be seen in the above chart. Technically, the market has broken its zone and trading upside. The market will be positive and it can go continue its rally in the coming days. Indicators MACD is flat whereas RSI and Stochastic are showing positive momentum on the hourly chart. Now the market is highly volatile and unexpected move is expected.
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Trading zone for the Nifty index on 28th November 2019
Upside Resistance:- 12150, 12200, 12270.
Downside Support:- 12090, 12030, 11970.
In the Nifty 50, 37 stocks traded in green whereas the only 13 were declined on 27th November 2019.
Top 5 Nifty Gainer and Loser
The most active value wise stocks were YES BANK , ICICI BANK, HDFC, ZEEL, SBIN and the volume-wise were IDEA, YES BANK, DISHTV, RCOM, ZEEL.