Daily Analysis of Stock Market – NIFTY – 04th November 2020

Daily-Analysis-of-Nifty

On Wednesday, The market had a gap down opening, later it recovered and closed in the green. At the closing, the market closed in the green. The market was very much volatile today because of the US election. the Nifty index closed at 11,908.50, The Nifty bank index closed above and hold 25,771.60, and the Sensex settled above 40,616.14. The Nifty index gained around 95.00 points, The Nifty bank index gained around 88.80 points, and the Sensex gained 355.01 points in a single day.

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Today, the Nifty index opened at 11,783.35 went up to 11,929.65, and closed at 11,908.50, after making the low of 11,756.40. Nifty Bank index opened at 25,539.55 and stayed volatile between the high of  25,891.00 to the low of 25,142.00, and closed at 25,771.60.

Daily Analysis of Stock Market – NIFTY – 04th November 2020 1

According to the Nifty Daily chart, If the Nifty breaks and sustain above12,020 levels, Then Nifty can go towards 12,200 to 12,300 levels Alternatively, If the Nifty breaks and sustain below 11,680 levels, then it might retest 11,600 to 11,500 levels.

NEWS HIGHLIGHTS

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  • Paytm ties up with SBI Card to launch co-branded credit cards.
  • Gland Pharma IPO will open from 9th November 2020.
  • Rupee slumps 35 paise to 74.76 against the US dollar.
  • German lender DEG invests Rs 35 crore in supply chain fintech LivFin.
  • Silver futures fall nearly 2% to Rs 61,448 per kg on weak global cues, firm dollar.
  • JLR commences booking for electric SUV I-PACE in India.
  • SBI Q2 profit surges 52% to Rs 4,574 crore, NII increases to Rs 28,181 crore.
  • Adani Gas signs pact to acquire defaulter Jay Madhok Energy’s 3 city gas licenses.
  • Ramco System Standalone September 2020 Net Sales at Rs 82.84 crore, up 0.81% Y-o-Y.

Trading zone for the Nifty index on 04th November 2020

Upside Resistance:-  11,973, 12,038, 12,147.

Downside Support:-  11,800, 11,691, 11,627.

Nifty 50

AdvancesDeclines
3218

In the Nifty 50, 32 stocks traded in green and whereas only 18 were declined on 04th November 2020.

Top 5 Nifty Gainer and Loser

Gainer%Loser%
Induslnd Bank4.86UPL-3.76
Sun Pharma3.92HDFC-2.01
Davis Labs3.44Hindalco-1.81
Reliance3.39Axis Bank-1.68
Infosys2.96Power Grid Corp-1.58

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

Results To Be Declared Tomorrow
Trent
Torrent Power
Vinati Organics
Container Corp
Godrej Consumer
Gujarat Gas
Astrazeneca Pharma
Berger Paints India
Birlasoft
Bajaj Electricals
Adani Power
ABB India
Adani Transmission
Aditya Birla Capital
Dalmia Bharat

FII and DII trading activity on NSE, BSE, and MSEI on Capital Market Segment as on 04th November 2020

FII (Cr.)DII (Cr.)
146.22-8.13