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Daily Analysis of Stock Market – NIFTY – 08th December 2020

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On Tuesday, The market had a gap up opening, Later it slipped but 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 13,392.95, The Nifty bank index closed above and hold 30,261.90, and the Sensex settled above 45,608.51. The Nifty index gained around 37.20 points, The Nifty bank index gained around 50.35 points and the Sensex gained 181.54 points in a single day.

Today, the Nifty index opened at 13,393.85 went up to 13,435.45, and closed at 13,392.95, after making the low of 13,311.05. Nifty Bank index opened at 30,300.30 and stayed volatile between the high of 30,363.80, to the low of 30,025.20, and closed at 30,261.90.

According to the Nifty 45 Mins chart, If Nifty breaks and sustain above 13,425 levels, Then it can go towards 13,500 to 13,600 levels. Alternatively, If Nifty doesn’t break and sustain above 13,425 levels, then it might retest 13,250 to 13,200 levels.


  • Rupee soars 30 paise to end at 73.60 against US dollar.
  • DCB Bank cuts benchmark one-year MCLR by 0.18%.
  • ICICI Bank board approves a 2.21% stake sale in ICICI Securities to meet norms.
  • Vodafone says it won’t invoke India-UK BIPA until the Dutch arbitral award is set aside.
  • Atomberg Technologies gets Rs 70 crore in Series B round.
  • TVS Srichakra share price rises 7% on Rs 1,000 crore plan to ramp up manufacturing.
  • Indoco Remedies’s share price falls nearly 7% despite a tender win in Germany.
  • Google Pay, PhonePe accounted for 86% of UPI transactions in Oct: NPCI.
  • Fitch revises India’s GDP forecast to -9.4% for FY21.

Trading zone for the Nifty index on 08th December 2020

Upside Resistance:-  13,449, 13,504, 13,573.

Downside Support:-  13,324, 13,255, 13,200.

Nifty 50


In the Nifty 50, 20 stocks traded in green and whereas only 30 were declined on 08th December 2020.

Top 5 Nifty Gainer and Loser

UltraTech Cement3.19Sun Pharma-2.34
Reliance1.82IndusInd Bank-1.97
Wipro1.46Coal India-1.86
HCL Tech0.99Adani Ports-1.73

The most active value-wise stocks were Reliance, SBI, Maruti Suzuki, Bajaj Finance, Infosys, and the volume-wise were SBI, Tata Motors, ONGC, ITC, NTPC.

FII and DII trading activity on NSE, BSE, and MSEI on Capital Market Segment as on 08th December 2020

FII (Cr.)DII (Cr.)


GSI Team

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