Weekly Analysis

Market Weekly Analysis Edition – NIFTY – 09 DECEMBER 2019 – 13 DECEMBER 2019

weekly-Analysis-of-Nifty

In the weekly analysis, we analyze the whole week’s movements on a technical basis. This week was eventually highly volatile and sudden unexpected moves we have seen in the market. This week the Nifty index moved up and closed above 12000, NIftybank index settled above 32000 and the Sensex ends above 41000. On the weekly basis the Nifty index gains 165 points, Niftybank index gains more than 670 points and the Sensex gains more than 550 points respectively.

On a week to week basis, the Nifty index opened at 11939.10 went up to 12098.85 and closed at 12086.70 after making the low of 11832.30. Niftybank index opened at 31321.40 and stay volatile between 32105.05 to 30996.40 and settled at 32014.25.

As per the last view, ‘if the Nifty index will trade above 11985 then it can go up to 12000 to 12055 and if the Nifty index breaks and sustains below 11900 then it can fall towards 11850 to 11800, and the index fell till 11832 after sustaining below 11900 and went up to 12098 after breaking 11985.

For the next week’s trading, if the Nifty index sustains above 12000 then the upside rally will be continuing till 12125 and more. If the Nifty index breaks and sustains below 12000 then it can fall from 11900 to 11800.

Market Weekly Analysis Edition – NIFTY – 09 DECEMBER 2019 – 13 DECEMBER 2019 4

Above is the Nifty index daily chart. From the chart above it can be seen that the index has made double bottom on the daily chart. The index bounced back after making the bottom of 11832 and reclaimed 12000. Technically the market is looking positive on the daily chart and the upside rally can continue and the market can give new highs in the coming days.

Nifty trading zone from 16-12-2019 to 20-12-2019

Upside resistance(weekly):-  12100, 12180, 12275.

Downside support(weekly):- 12000, 11915, 11800.

CORPORATE ACTIONS

SCRIPT PURPOSE EX-DATE RECORD DATE
BOROSIL Dividend – Rs. – 0.6500 18 Dec 2019  ————–
IBVENTURES Buy Back of Shares 18 Dec 2019 19 Dec 2019
INFRATEL Interim Dividend – Rs. – 2.7500 19 Dec 2019 20 Dec 2019
ABB Spin Off 20 Dec 2019 23 Dec 2019

NEWS HIGHLIGHT

  • Wall street steady as US, China announce trade deal.
  • Yes Bank expects the third quarter to remain subdued, sees some improvement in revenue in Q4.
  • AU Small Fin Bank raises Rs 525 cr from Temasek arm Camas Investments Pte.
  • US-China trade deal cuts tariffs for Beijing promise of big arm purchases.
  • Arcelor Mital initiates Rs 42000 cr payment for Essar Steel  acquisition.
  • ITDC jumps 9% on a merger with Kumarakruppa Frontier.
  • BGR energy wins the order of Rs 4,442 cr.
  • Brickwork rating lowers outlook for Future retail’s proposed NCDs to negative.
GSI Team

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