Daily Analysis of Stock Market – NIFTY – 06th November 2020

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On Friday, The market had a flat opening and remained in the green for the whole session. At the closing, the market closed in the green. The market was very much volatile today. The Nifty index closed at 12,263.55, The Nifty bank index closed above and hold 26,798.95, and the Sensex settled above 41,893.06. The Nifty index gained around 143.25 points, The Nifty bank index gained around 485.85 points, and the Sensex gained 552.90 points in a single day.

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Today, the Nifty index opened at 12,156.65 went up to 12,280.40, and closed at 12,263.55, after making the low of 12,131.85. Nifty Bank index opened at 26,274.10 and stayed volatile between the high of  26,853.45 to the low of 26,135.30, and closed at 26,798.95.

Daily Analysis of Stock Market – NIFTY – 06th November 2020 1

According to the Nifty Daily chart, If the Nifty breaks and sustain above 12,431 levels, Then Nifty can go towards 12,500 to 12,600 levels Alternatively, If the Nifty breaks and sustain below 12,020 levels, then it might retest 11,800 to 11,700 levels.

NEWS HIGHLIGHTS

  • Amazon Web Services to invest Rs 20,761 crore for data centers in Telangana.
  • Silver futures up 1.22% to Rs 65,039 per kg, resistance is seen at Rs 66,400-69,000 levels.
  • Rupee settles 28 paise higher at 74.08 against the US dollar.
  • IndiGo in talks to buy jet engines worth $10.7 billion: Report.
  • Voltas Q2 net profit down 25% at Rs 80 crore.
  • Jet Airways insolvency: Kalrock Capital-Murari Jalan resolution plan submitted in NCLT.
  • India Cements share price up 3% after Q2 profit surges to Rs 69 crore.
  • Adani Power share price up 4% after Q2 profit zooms to Rs 2,228 crore.
  • Dish TV shares gain after consolidated net profit in Q2 rises to Rs 64.51 crore.

Trading zone for the Nifty index on 06th November 2020

Upside Resistance:-  12,319, 12,374, 12,467.

Downside Support:-  12,170, 12,077, 12,022.

Nifty 50

AdvancesDeclines
3218

In the Nifty 50, 32 stocks traded in green and whereas only 18 were declined on 06th November 2020.

Top 5 Nifty Gainer and Loser

Gainer%Loser%
Bajaj Finserv3.82Maruti Suzuki-2.61
Reliance3.79GAIL-1.89
Induslnd Bank3.39Bharti Airtel-1.62
HDFC Bank3.03UltraTech Cement-1.34
Kotak Bank2.54Asian Paints-1.31

The most active value-wise stocks were Reliance, SBI, HDFC Bank, Induslnd Bank, Bajaj Finance, SBI and the volume-wise were SBI, Tata Motors, NTPC, ITC, Reliance.

Results To Be Declared Tomorrow
FDC
Divis Labs
Ipca Labs
Affle India
Ujjivan Small

FII and DII trading activity on NSE, BSE, and MSEI on Capital Market Segment as on 06th November 2020

FII (Cr.)DII (Cr.)
4869.87-2938.66

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