On Tuesday, the market opened flat to negative and traded under the arm of bears. The market was fell in the last trading session and closed negatively. On the closing bell, the Nifty index ends above 12150, Niftybank index settled at 32161.65 and the Sensex closed at 41253.74. The Nifty index loses –87.40 points, Niftybank index loses around –200 points and the Sensex loses more than –300 points each.
Today, the Nifty index opened high remains the same as 12247.10 and closed at 12168.45 after making the low of 12151.80. The Niftybank index opened at 32345.95 and stayed volatile between 32345.95 to 32108.75 and closed at 32161.65.
As per the last view, ‘if the Nifty index sustains above 12255 then it can go up to 12285 to 12300 and if the Nifty index breaks below 12200 then it can fall towards 12100’ and the index opened below 12255 and slips till 12151.80 after breaking 12200.
For the next day trading, if the Nifty index breaks below 12150 then it can fall till 12120 or more. If the Nifty index sustains above 12190 then it can go up to 12235 to 12290.
Above is the hourly chart of the Nifty index in which we can see that the index is in an uptrend. Today the uptrend line has been broken and closed below the trend line. It also can be seen that the index making double bottom on the chart which suggests that the index may bounce back and reclaims its recent tops. Technically, the market is positive and it can break its recent high in the coming days but profit booking will be seen on the upper levels.
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Trading zone for the Nifty index on 01st January 2020
Upside Resistance:- 12290, 12225, 12285.
Downside Support:- 12150, 12130, 12090.
In the Nifty 50, 11 stocks traded in green whereas the 39 were declined on 31st December 2019.
Top 5 Nifty Gainer and Loser
The most active value wise stocks were RELIANCE, IBULHSGFIN, TATAMOTORS ,AXISBANK, SBIN and the volume-wise were IDEA, YES BANK, TATAMOTORS, IBULHSGFIN, DISHTV.
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.