Daily Analysis of Stock Market – NIFTY – 06th May 2021

On Thursday, The market had a gap up opening. Later, It slipped in the red. At the closing market closed in the green. The market was very much volatile today. The Nifty index closed at 14,724.80, The Nifty bank index closed above and hold 32,827.80, and the Sensex settled above 48,272.21 The Nifty index gained around 106.95 points, The Nifty bank index gained around 44.10 points, and the Sensex gained 272.21 points in a single day.

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Today, the Nifty index opened at 14,668.35 went up to 14,743.90, and closed at 14,724.80, after making the low of 14,611.50, The Nifty Bank index opened at 32,900.75 and stayed volatile between the high of 32,956.35, to the low of 32,564.00, and closed at 32,827.80.

According to the Nifty daily chart, Nifty broke and sustained below 14,890. Now nifty can go towards 14,300 to 14,200 levels, Alternatively, If Nifty breaks and sustain above 14,890 levels, then it might retest 15,000 to 15,100 levels.

NEWS HIGHLIGHTS

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  • IDBI Bank divestment: LIC may sell stake in multiple tranches, up to 5% in FY22.
  • RBL Bank Consolidated March 2021 Net Interest Income (NII) at Rs 998.78 crore, down 8.7% Y-o-Y.
  • Adani Green Ene Consolidated March 2021 Net Sales at Rs 986.00 crore, up 41.72% Y-o-Y.
  • DCM Shriram Consolidated March 2021 Net Sales at Rs 2,190.56 crore, up 14.26% Y-o-Y.
  • Alembic Pharma Consolidated March 2021 Net Sales at Rs 1,280.39 crore, up 6.1% Y-o-Y.
  • Adani Enterprise Consolidated March 2021 Net Sales at Rs 13,525.07 crore, up 0.72% Y-o-Y.
  • Rupee ends higher at 73.76 per dollar.
  • IDBI Bank share price jumps 9% on CCEA nod for disinvestment.
  • Bitcoin rises 6.8% to $56,852.03.

Trading zone for the Nifty index on 06th May 2021

Upside Resistance:-  14,775, 14,826, 14,908.

Downside Support:-  14,643, 14,561, 14,510.

Nifty 50

AdvancesDeclines
4505

In the Nifty 50, 45 stock traded in green and whereas only 05 were declined on 06th May 2021.

Top 5 Nifty Gainer and Loser

Gainer%Loser%
Hindalco5.13Power Grid Corp-1.28
Hero Motocorp4.49UPL-1.20
Wipro4.42NTPC-0.82
Tata Motors3.34Bajaj Finserv-0.78
Eicher Motors2.99ONGC-0.77

The most active value-wise stocks were Tata Steel, Cipla, Tata Motors, JSW Steel, Reliance, and the volume-wise were Tata Steel, Tata Motors, SBI, Hindalco, ONGC.

FII and DII trading activity on NSE, BSE, and MSEI on Capital Market Segment as on 06th May 2021

FII (Cr.)DII (Cr.)
1222.58-632.51

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