On Tuesday the market opened higher but unable to sustained and closed in the red. The market was highly under sell pressure and after the second trading session. On the closing bell, the Nifty index ends above 12050, the Niftybank index settled below 31000 and the Sensex closed below 41000. The Nifty index loses more than -50 points, Niftybank index loses more than –75 points and the Sensex lost around -200 points.

Today, the Nifty index opened at 12148.10 went up to 12163.55 and closed at 12055.80 after making a low of 12024.50. The Niftybank index opened at 30922. and stayed volatile between 31048.45 to 30656.35 and closed at 30761.40.

As per the last view, ‘if the Nifty index breaks and holds above 12150 then it can go up to 12216 to 12250 and if the Nifty index breaks below 12089 then it can further fall towards 12035‘ and the index not holds 12150 and fell till 12024 after breaking the 12089.

For the next day trading, if the Nifty index holds above 12000 then it can go up to 12145 to 12215. If the Nifty index breaks and sustains below 12000 then the downward rally will start till 11930 or more.

Today the index almost touched of an hourly uptrend line which is at 12015 around and the Nifty index made a low of 12024.50. It can also be seen that the index was unable to save its near support of 12089 and tank till 12024. The market is now highly volatile and uncertain. The market is now reacting suddenly on the basis of global news and the quarterly results of the companies. Technically, the market is at the support of 12000. Basically the Nifty in upwards momentum but due to quarterly results of the companies and global market it reacts suddenly.

NEWS HIGHLIGHTS

  • ITI FPO closing date extended till Jan 31.
  • Maruti miss street estimates and tank 2.50%.
  • Tata Nexon Electric launched at Rs. 13.99 lakh.
  • Sachin Bansal resigns from the Ujjivan Small Finance Bank board.
  • SEBI fined Rs 95 lakh on 16 entities for fraudulent trading in the Dwitiya Trading scrip.
  • Finance Minister puts in place measures to protect the prudent commercial decision of bankers.
  • Coal minister- CIL gets a green nod for 17 mining projects.
  • HDFC plans to invest Rs. 100 crore per year in a tech startup.

Trading zone for the Nifty index on 29th January 2020

Upside Resistance:-  12090, 12145, 12215.

Downside Support:-  12000, 11940, 11805.

Nifty 50

AdvancesDeclines
1139

In the Nifty 50, only 13 stock traded in green whereas the 36 was declined and one was unchanged on 28th January 2020.

Top 5 Nifty Gainer and Loser

Gainer%Loser%
BPCL2.49VEDL-4.53
HDFC1.57BHARTIARTL-4.37
BAJFINANCE1.24TATAMOTORS-3.18
SUNPHARMA1.00TATASTEEL-2.93
BAJAJFINSV0.92JSWSTEEL-2.85

The most active value-wise stocks were ICICI BANK, DRREDDY, HDFC BANK, RELIANCE, INDUSINDBK and the volume-wise were YES BANK, ICICI BANK, TATAMOTORS, SBIN, JSWSTEEL.