Daily Analysis of Stock Market – NIFTY – 07th May 2021

On Friday, The market had a gap up opening and remained in the green for the whole session. At the closing market closed in the green. The market was very much volatile today. The Nifty index closed at 14,823.15, The Nifty bank index closed above and hold 32,904.50, and the Sensex settled above 48,206.47 The Nifty index gained around 98.35 points, The Nifty bank index gained around 76.70 points, and the Sensex gained 256.71 points in a single day.

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Today, the Nifty index opened at 14,816.85 went up to 14,863.05, and closed at 14,823.15, after making the low of 14,765.50, The Nifty Bank index opened at 33,041.65 and stayed volatile between the high of 32,259.15, to the low of 32,771.35, and closed at 32,904.50.

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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  • LIC relaxes claim settlement document requirements amid the COVID-19 crisis.
  • HDFC Q4 profit rises 8.7% to Rs 3,180 crore QoQ, beats estimates.
  • JSW Steel shares gain over 3% on JV with JFE Steel.
  • Zomato may invest $100 million in Grofers as e-grocer scraps listing plan: Report.
  • Raymond’s stock price jumps 5% on Q4 net profit of Rs 58 crore.
  • Rupee ends 25 paise higher at 73.51 per dollar.
  • TCS Consolidated March 2021 Net Sales at Rs 43,705.00 crore, up 9.41% Y-o-Y.
  • Tejas Networks Consolidated March 2021 Net Sales at Rs 201.55 crore, up 269.34% Y-o-Y.

Trading zone for the Nifty index on 07th May 2021

Upside Resistance:-  14,869, 14,915, 14,967.

Downside Support:-  14,771, 14,720, 14,674.

Nifty 50

AdvancesDeclines
3812

In the Nifty 50, 38 stock traded in green and whereas only 12 were declined on 07th May 2021.

Top 5 Nifty Gainer and Loser

Gainer%Loser%
Tata Steel7.40Tata Consumer-3.69
Hindalco3.93Bajaj Auto-1.89
JSW Steel3.72Hero Motocorp-1.80
Adani Ports3.64Eicher Motors-1.07
SBI Life3.18Divis Labs-0.84

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

FII and DII trading activity on NSE, BSE, and MSEI on Capital Market Segment as on 07th May 2021

FII (Cr.)DII (Cr.)
-1142.751468.09

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