On Friday the market opened negatively and stayed highly volatile during the day. The market today showed the profit booking and settled in minus. On the closing bell, the Nifty holds 12000, the Niftybank settled at 31946.10 and the Sensex closed below 40800. The Nifty index loses –95.10 points, Niftybank loses more than –150 points and the Sensex loses –336.36 points. Infratel, ZEEL, Adani port, Hindustan Uniliver are the top market movers.
Today, the Nifty index opened at 12146.20 went up to 12147.40 and closed at 12056.05 after making the low of 12017.40. The Niftybank index opened at 32074.15 and stayed volatile between 32086.95 to 31770.80 and closed at 31946.10. Sensex opened at 41138.26 and made a high 41143.22 low 40664.18 and closed at 40793.81.
As per the last view, ‘if the Nifty index holds above 12100 then upside movement will be continued and it can go towards 12250 and if the Nifty index breaks below 12100 then it can fall till 12000 to 11950’ and today the index fall till 12017.40 after breaking 12100.
For the next day trading if the Nifty index sustains above 12000 then the upside movement will continue. If the Nifty index breaks and sustains below 12000 then it moves towards 11950 to 11900.
From the above chart, it can be seen that the Nifty index moving upside and maintaining its upside momentum. The index making higher highs and lower highs. It can be seen that the index today took support near 12000 and trying to stay up. 12000 will be the decisive level for the Nifty index, if it breaks and sustains below 12000 then again it can fall towards 11850 to 11800. Technically, the market looks positive and it can keep continuing upside momentum in the coming days. On the hourly chart, indicator are showing positive signs.
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Trading zone for the Nifty index on 2nd December 2019
Upside Resistance:- 12075, 12130, 12200.
Downside Support:- 12000, 11945, 11850.
In the Nifty 50, only 08 stocks traded in green whereas the only 42 were declined on 29th November 2019.
Top 5 Nifty Gainer and Loser
The most active value wise stocks were IBULHSGFIN, YESBANK, INFRATEL, RELIANCE, ADANIPORTS and the volume-wise were YESBANK, IDEA, IBULHSGFIN, DISHTV, IDFCFIRSTB.
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.