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Daily Analysis of Stock Market – NIFTY – 08th January 2021

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On Friday, The market had a gap up opening and remained in 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 14,347.25, The Nifty bank index closed above and hold 32,084.20, and the Sensex settled above 48,782.51. The Nifty index gained around 209.90 points, The Nifty bank index gained around 128.20 points and the Sensex gained 689.19 points in a single day.

Today, the Nifty index opened at 14,258.40 went up to 14,367.30, and closed at 14,347.25, after making the low of 14,221.65. Nifty Bank index opened at 32,298.05 and stayed volatile between the high of 32,298.05, to the low of 32,002.95, and closed at 32,084.20.

According to the Nifty daily chart, If Nifty broke the bullish channel upside, Now it can move towards 14,500 to 14,600 levels. Alternatively, If Nifty breaks 14100 and 14000 levels, then it might retest 13,800 to 13,700 levels.


  • Rupee recovers 7 paise to close at 73.24 a dollar.
  • Okaya Power gets a contract to set up 4,244 EV charging stations from state-run REIL.
  • Sembcorp Energy India wins a 400 MW solar power project.
  • HMEL to shut Bathinda refinery for 40 days from end-January: Sources.
  • Tata Power’s share price hits a 52-week high on acquiring a stake in 2 companies.
  • Biocon shares up 2% after ADQ pumps Rs 555 crore in the subsidiary.
  • Bharat Rasayan shares rise 12% as a board to consider buyback proposal.
  • Bitcoin falls 5% to $37,507 on Bitstamp exchange.
  • Sipadan Investments Mauritius sells IDFC shares worth over Rs 320 crore.

Trading zone for the Nifty index on 08th January 2021

Upside Resistance:-  14,402, 14,458, 14,548.

Downside Support:-  14,257, 14,166, 14,111

Nifty 50


In the Nifty 50, 41 stock traded in green and whereas only 09 were declined on 08th January 2021.

Top 5 Nifty Gainer and Loser

Maruti Suzuki5.93Hindalco-1.72
Wipro5.77Tata Steel-1.34
Tech Mahindra5.66IndusInd Bank-1.29
UPL4.38Bharti Airtel-0.92
Eicher Motors4.19ITC-0.64

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

FII and DII trading activity on NSE, BSE, and MSEI on Capital Market Segment as on 08th January 2021

FII (Cr.)DII (Cr.)


GSI Team

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