On Monday, the market opened higher stayed highly volatile and closed almost flat. The market traded under pressure and later recovered from the low. On the closing bell, the Nifty index ends just above 12250, Niftybank index settled at 32355 and the Sensex closed at 41558. The Nifty index gains 10 points and the Niftybank and Sensex lose –57.45 and –17.14 points each.
Today, the Nifty index opened at 12274.90 went up to 12286.45 and closed at 12255.85 after making the low of 12213.80. The Niftybank index opened at 32486.60 and stayed volatile between 32613.10 to 32248.50 and closed at 32355.
As per the last view, ‘if the Nifty index breaks above 12260 then it can go up to 12295 to 12325 and if the Nifty index breaks below 12220 then it can fell till 12190 to 12120’ today the index went up to 12286 after making the low of 12213.80.
For the next day trading, if the Nifty index sustains above 12255 then it can go up to 12285 to 12300. If the Nifty index breaks below 12200 then it can fall towards 12100.
From the above hourly chart of the Nifty index, it can be seen that the index going up following an uptrend line. The Nifty index taking support at 12200 and resisting at 12295. The index trend line support of 12190–12195. 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.
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Trading zone for the Nifty index on 31st December 2019
Upside Resistance:- 12295, 12325, 12400.
Downside Support:- 12250, 12190, 12120.
In the Nifty 50, 33 stocks traded in green whereas the only 17 were declined on 30th December 2019.
Top 5 Nifty Gainer and Loser
The most active value wise stocks were RELIANCE, SBIN, AXISBANK, TATAMOTORS, YES BANK and the volume-wise were YES BANK, TATAMOTORS, SBIN, ICICIBANK, ITC.