In weekly edition, we analyzing whole week price movement and preparing for the next week on a technical basis. The market was totally in the hands of bulls and hence closed in green. This week the market was highly volatile and uncertain and traded in a wide range. This week the Nifty index gains 130 points, Niftybank index 850 points and Sensex 403 points each respectively.
On a weekly basis, the Nifty index opened at 10936.90 went up to 11084.45 and closed at 11075.90 after making the low of 10889.80. Niftybank index opened at 27240.35 and stay volatile between 28126.85 to 26993.90 settled at 28098.75. Sensex opened at 36969.48 made a high of 37435.15 low 36784.15 and closed at 37384.99.
As per our last week view, ‘If the market will break not 10885 then it can go up the next resistance of 11000 to 11150 and if the Nifty index break down and sustain below 10885 then again it can fall towards 10700 to 10600’ and this week make a low of 10889.80 and went 11085 after breaks up 10885.
For the next week, above 11016 the Nifty index will be positive and below 11016 it can again fell towards 11000 to 10900.
From the chart above it can be seen that the market is trading in a range of 10900 to 11200. this week the market took the support and went up. The Nifty index earlier break down the uptrend line on the weekly chart, currently trading below the trend line. The market looks consolidating and range bound.
Nifty index’s trading zone for the next week 16-09-19 to 20-09-19
Upside resistance(weekly):- 11085, 11150, 11200.
Downside support(weekly):- 11015, 10950, 10900.
|ASTRAL||Bonus issue 1:4||16 Sep 2019||17 Sep 2019|
|GARWARPOLY||Dividend – Rs. – 10.0000||16 Sep 2019||————–|
|JUBLFOOD||Final Dividend – Rs. – 5.0000||16 Sep 2019||————–|
|GATI||Dividend – Rs. – 0.8000||17 Sep 2019||18 Sep 2019|
|PATELENG||Right Issue of Equity Shares||17 Sep 2019||18 Sep 2019|
|TATACOMM||Spin Off||17 Sep 2019||18 Sep 2019|
|TBZ||Final Dividend – Rs. – 0.7500||17 Sep 2019||————–|
|SKCIL||Right Issue of Equity Shares||18 Sep 2019||19 Sep 2019|
|ACGL||Buy Back of Shares||19 Sep 2019||20 Sep 2019|
|AMFL||Bonus issue 2:5||19 Sep 2019||21 Sep 2019|
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.