As per our earlier view, Nifty is continuous in falling trend and loses 95.10 points in today’s trading session and closed at below 11200 at 11189.20. Today Nifty opened at the higher side but it was unable to hold its gain and again Nifty started falling downside and loses more than 100 points or -0.84% while Nifty spot made high of 11310.95 while yesterday’s closing was 11284.30 and tank till 11152.40 during the intraday trading session.
Above is a spot Nifty 50 hourly chart and it is clearly been seen that how the Nifty is continuously falling and making lower highs and lower lows and it can also be seen that Nifty break down the chart pattern which is also showing the sign of more downside, as per the technical chart, Nifty can fall around 200 points from this level till 11000 in near term.
As per our earlier view, Nifty achieved 11195 (weekly edition) and closes below of this support today which suggesting that the more downside room is open for the market. It has been seen that Nifty many of time touches its near term resistance of 11300 and broke but unable to hold and sharp fall we have seen at 11300. Still, we stand with our support of downside 11108.30 which will be achieved soon.
Trading range for the Nifty spot 30 July 2019
Upside resistance :- 11282.65, 11376.10, 11455.35.
Downside support :- 11124.10, 11055, 10900.
In Nifty 50 stocks, only 7 stocks closed in the green while 43 were closed in the red.
Top 5 Nifty Gainer and Loser
Value wise most active top five stocks of Nifty 50 was ICICIBANK, IBULHSGFIN, YESBANK, BAJAJFINANCE, RELIANCE.
Quantity wise most active stocks of Nifty 50 was IDEA, CPSEETF, YESBANK, ICICIBANK, 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.