Daily Analysis of Stock Market – NIFTY – 02nd November 2020

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On Monday, The market had a gap up opening, Later it slipped in red. At the closing, the market closed in the green. The market was very much volatile today, the Nifty index closed at 11,669.15, The Nifty bank index closed above and hold 24,892.50, and the Sensex settled above 39,757.58. The Nifty index gained around 26.75 points, The Nifty bank index gained around 991.60 points, and the Sensex gained 143.51 points in a single day.

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Today, the Nifty index opened at 11,697.35 went up to 11,725.65, and closed at 11,669.15, after making the low of 11,557.40. Nifty Bank index opened at 24,367.60 and stayed volatile between the high of  25,139.00 to the low of 24,120.60, and closed at 24,892.50.

Daily Analysis of Stock Market – NIFTY – 02nd November 2020 1

According to the Nifty Daily chart, Today the Nifty tried to break 11,680 levels but it was not able to close above that level, Now Nifty can go towards 11,300 to 11,200 levels Alternatively, If the Nifty breaks and sustain above 11,680 levels, then it might retest 11,800 to 11,900 levels.

NEWS HIGHLIGHTS

  • Jindal Steel and Power Q2 loss widen to Rs 706 crore.
  • Dhanuka Agritech Q2 net profit rises 17% to Rs 70 crore.
  • Jet Airways Insolvency: Kalrock Capital and Murari Lal Jalan’s consortium deposits Rs 150 crore as performance security.
  • Bandhan Bank Q2 profit down 5% at Rs 920 crore.
  • RBI increases trading hours for rupee and bond markets.
  • Former HDFC Bank CEO Aditya Puri joins Carlyle as a senior adviser.
  • Rupee slumps 32 paise to close at 74.42 against the US dollar.
  • Zydus Wellness Q2 net loss widens to Rs 105.34 crore.
  • NTPC posts a 7% YoY rise in Q2 profit; board approves share buyback of Rs 2,276 crore.
  • Security and Intelligence Services Q2 net profit rises 42% at Rs 108 crore

Trading zone for the Nifty index on 02nd November 2020

Upside Resistance:-  11,744, 11,819, 11,912.

Downside Support:-  11,576, 11,482, 11,408.

Nifty 50

AdvancesDeclines
2624

In the Nifty 50, 266 stocks traded in green and whereas only 24 were declined on 02nd November 2020.

Top 5 Nifty Gainer and Loser

Gainer%Loser%
Induslnd Bank7.28Reliance-8.62
ICICI Bank6.33Divis Labs-2.97
Axis Bank6.12Eicher Motors-2.68
HDFC6.10HCL Tech-2.32
Bharti Airtel5.45BPCL-2.27

The most active value-wise stocks were Reliance, ICICI Bank, Induslnd Bank, Axis Bank, HDFC, and the volume-wise were ICICI Bank, SBI, Reliance, Tata Motors, Axis Bank.

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Results To Be Declared Tomorrow
Dabur India
Ajanta Pharma
PVR
Godrej Propert.
Adani Ports & SEZ
Muthoot Finance
Sun Pharma
JSW Energy
Varun Beverages
Adani Gas

FII and DII trading activity on NSE, BSE, and MSEI on Capital Market Segment as on 02nd November 2020

FII (Cr.)DII (Cr.)
740.61-533.97

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