Daily Analysis of Stock Market – NIFTY – 07th December 2020

On Monday, 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. The Nifty index closed at 13,355.75, The Nifty bank index closed above and hold 30,211.55, and the Sensex settled above 45,426.97. The Nifty index gained around 97.20 points, The Nifty bank index gained around 159.15 points and the Sensex gained 347.42 points in a single day.

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Today, the Nifty index opened at 13,264.85 went up to 13,366.65, and closed at 13,355.75, after making the low of 13,241.95. Nifty Bank index opened at 30,062.60 and stayed volatile between the high of 30,354.20, to the low of 29,950.60, and closed at 30,211.55.

According to the Nifty 45 Mins chart, If Nifty breaks and sustain above 13,400 levels, Then it can go towards 13,500 to 13,600 levels. Alternatively, If Nifty doesn’t break and sustain above 13,400 levels, then it might retest 12,250 to 12,200 levels.

NEWS HIGHLIGHTS

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  • Rupee settles 10 paise lower at 73.90 against US dollar.
  • DCB Bank cuts benchmark one-year MCLR by 0.18%.
  • Goodyear India share price surges 14% after board declares dividend; volume spikes.
  • NCLAT stays NCLT order directing ArcelorMittal India to pay Rs 1,300 crore as IRP cost.
  • Hindalco to invest Rs 730 crore to set up a new plant in Silvassa.
  • NTPC offers to buy back masala bonds worth Rs 4,000 crore.
  • HDFC Bank shares fall 2% after Moody’s terms bank’s digital outages as credit negative.
  • ONGC share price up 3% after subsidiary ONGC Videsh strikes oil in Colombia.
  • Walmart prepares for $10 billion Flipkart IPO in the US: Report.

Trading zone for the Nifty index on 07th December 2020

Upside Resistance:-  13,401, 13,446, 13,526.

Downside Support:-  13,276, 13,197, 13,152.

Nifty 50

AdvancesDeclines
3218

In the Nifty 50, 32 stocks traded in green and whereas only 18 were declined on 07th December 2020.

Top 5 Nifty Gainer and Loser

Gainer%Loser%
UPL4.42Nestle-1.49
Adani Ports3.92JSW Steel-1.46
HUL3.29Kotak Mahindra-1.39
Bharti Airtel3.08Tata Steel-1.31
Coal India2.63SBI Life Insurance-1.30

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

FII and DII trading activity on NSE, BSE, and MSEI on Capital Market Segment as on 07th December 2020

FII (Cr.)DII (Cr.)
3792.06-2767.09

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