In the weekly edition, we analyzing whole week price movement and preparing for the next week on a technical basis. The market has shown gap opening and closing and faced volatility during the week.
On the basis of the week to week closing, the Nifty index lost –77 points and Niftybank index –180 points while Sensex gained 630 points. The Nifty index opened at 10960.95 made a high of 10967.50 low 10746.35 and closed at 10946.20. Niftybank index was opened at 27239.20 and stayed volatile between 27311.05 to 26641.35 settled at 27247.90. The Sensex opened at 37363.95 went up to 37731.51 and closed at 37332.79 after making the low of 36492.65.
The level of 10885 will be the key point for the next trading week. If the market will break not 10885 then it can go up the next resistance of 11000 to 11150. If the Nifty index breaks down and sustains below 10885 then again it can fall towards 10700 to 10600.
From the above chart, it can be seen that the Nifty index break down the uptrend line and closed below 100 moving averages last to last week. The Nifty form inside week candles on the weekly chart hence, indecisiveness continues. The Nifty index trading in the range of 11150 to 10650 as can be seen in the chart. It seems that the market will stay volatile in the range 11150 to 10800. Break down the uptrend line and Indicators like MACD are showing the weakness.
Nifty index’s trading zone for the next week 09-09-19 to 13-09-19
Upside resistance(weekly):- 11050, 11150, 11200.
Downside support(weekly):- 10885, 10805, 10650.
CORPORATE ACTIONS
| SCRIPT | PURPOSE | EX-DATE | RECORD DATE |
| 63MOONS | Dividend – Rs. – 2.0000 | 09 Sep 2019 | ————– |
| GSFC | Dividend – Rs. – 2.2000 | 09 Sep 2019 | ————– |
| BHEL | Final Dividend – Rs. – 1.2000 | 11 Sep 2019 | ————– |
| HEIDELBERG | Final Dividend – Rs. – 3.0000 | 11 Sep 2019 | |
| RAJGLOWIR | Bonus issue 4:3 | 11 Sep 2019 | 12 Sep 2019 |
| APOLLOHOSP | Dividend – Rs. – 6.0000 | 12 Sep 2019 | ————– |
| FORCEMOT | Final Dividend – Rs. – 10.0000 | 12 Sep 2019 | ————– |
| JUBILANT | Final Dividend – Rs. – 4.5000 | 12 Sep 2019 | ————– |
| GODFRYPHLP | Dividend – Rs. – 10.0000 | 13 Sep 2019 | ————– |
| HIMATSEIDE | Final Dividend – Rs. – 3.5000 | 13 Sep 2019 | ————– |
