In the weekly analysis, we analyzing the whole week’s movement of the Nifty index. This week was highly volatile and event base. On the weekly closing basis the Nifty index holding above 12000, Niftybank index settled just below 32000 and the Sensex closed at 40793.81. Week to week basis the Nifty index gains around 150 points, Niftybank index gains 835 points and the Sensex gains 435 points.
On a week to week basis, the Nifty index opened at 11922.45 went up to 12158.80 and closed at 12056.05 after making the low of 11919.75. Niftybank index opened at 31065.10 and stay volatile between 32157 to 31049.75 settled at 31946. Sensex opened at 40439.66 made a high of 41163.79 low 40393.90 and closed at 40793.81.
As per the last view, ‘if the Nifty index holds above 11950 then it can move up again towards 12000 to 12100 and if the Nifty index breaks 11800 then again it can fell towards 11720’ and the index went up to 12158.
For the next week’s trading, ‘if the Nifty index holds above 12000 then more upside movement can be seen in the coming days. If the Nifty index breaks and sustains below 12000 then again it can fall towards 11900 to 11850.
Above is the Nifty index daily chart. From the above chart, it can be seen that the index is trading in a rising wedge. The index is continuing in upside move from 10675 and given a new peak as it can be seen in the chart above. Technically, the market looks attractive and positive, and it can be continuing its upside momentum. If the index breaks 12059 and sustains above 12000 then it can go up to 12200 to 12500 in the coming weeks. Indicators are currently trading in the positive territory and it seems that the rally will continue.
Index Nifty trading zone from 02-12-2019 to 06-12-2019
Upside resistance(weekly):- 12160, 12285, 12350.
Downside support(weekly):- 12020, 11930, 11850.
CORPORATE ACTIONS
| SCRIPT | PURPOSE | EX-DATE | RECORD DATE |
| REDINGTON | Interim Dividend – Rs. – 1.5000 | 03 Dec 2019 | 04 Dec 2019 |
| MANUGRAPH | Dividend – Rs. – 0.5000 | 04 Dec 2019 | |
| BRNL | Dividend – Rs. – 0.5000 | 05 Dec 2019 | 07 Dec 2019 |
| HCLTECH | Bonus issue 1:1 | 05 Dec 2019 | 07 Dec 2019 |
| HEIDELBERG | Interim Dividend – Rs. – 1.5000 | 05 Dec 2019 | 06 Dec 2019 |
| SAGRSOY-B | Reduction of Capital | 05 Dec 2019 | 06 Dec 2019 |
| THOMASCOOK | Spin Off | 05 Dec 2019 | 06 Dec 2019 |
NEWS HIGHLIGHT
- Yes Bank to raise $2 billion thriugh preferential allotment of shares.
- Patanjali secures Rs 3200 cr loan from banks to buy Ruchi Soya.
- Wall Street slips as US-China tensions weigh.
- NTPC to list commercial paper on BSE for an issue size of Rs 1500 cr.
- SAT asks SEBI to reconsider the ban on Kary using clients PoAs.
- SEBI invites refund claims from investors of Agro Farm Blessing, Asuree Agrowtech.
- Q2 GDP down to 4.5%.
- Reliance Jio is likely to bag Reliance Infra mobile tower, optical fiber to Rs. 3600 cr.
- Saudi Aramco IPO get $44.3 billion in bids so far – Lead manager.
- Life Insurance gets an extension until January 2020 to withdrawal products.
