We analyzing the whole week’s movements of the market in the weekly analysis. This week the market was eventually highly volatile and stayed bullish. This week the Nifty index ends above 12250 on the record highs, Niftybank settled at 32385 and the Sensex closed at 41681. This week the Nifty index gains 185 points, Niftybank index gains 370 points and the Sensex gains 671 points.
On a week to week basis, the Nifty index opened at 12131.90 went up to 12293.90 and closed at 12271.80 after making the low of 12046.30. Niftybank index opened at 32159 and stay volatile between 32443 to 31897 and settled at 32385.
As per the last view, ‘if the Nifty index sustains above 12000 then the upside rally will be continuing till 12125 and more and if the Nifty index breaks and sustains below 12000 then it can fall till 11900 to 11800’ and this week the index stayed above 12000 and went up to 12294.
For next week’s trading, if the Nifty index holds above 12100 then it can go up to 12350 to 12500. If the Nifty index breaks below 12100 then it can fall till 12000 to 11950.
Above is the weekly chart of the Nifty index. From the above, it can be seen that this week the index moving up and closed on a record high at 12271.80. The index broke out near resistance and closed above it. Technically, the market looks positive and the upside rally can be continued in the coming days. The index has made 12000 technically and sentimentally base support level, this will be now the decisive points for the index.
Nifty trading zone from 23-12-2019 to 27-12-2019
Upside resistance(weekly):- 12295, 12350, 12450.
Downside support(weekly):- 12200, 11955, 11850.
|CHOLAFIN||Interim Dividend – Rs. – 1.0000||23 Dec 2019||24 Dec 2019|
|KESORAMIND||Spin Off||24 Dec 2019||26 Dec 2019|
|ABANSENT||Interim Dividend – Rs. – 0.1000||26 Dec 2019||27 Dec 2019|
|AXITA||Bonus issue 1:1||26 Dec 2019||27 Dec 2019|
|BALMLAWRIE||Bonus issue 1:2||26 Dec 2019||28 Dec 2019|
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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.