Daily Analysis of Stock Market – NIFTY – 09th December 2020

On Wednesday, 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 13,529.10, The Nifty bank index closed above and hold 30,709.40, and the Sensex settled above 46,103.50. The Nifty index gained around 136.15 points, The Nifty bank index gained around 447.50 points and the Sensex gained 494.99 points in a single day.

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Today, the Nifty index opened at 13,458.10 went up to 13,548.90, and closed at 13,529.10, after making the low of 13,449.60. Nifty Bank index opened at 30,335.05 and stayed volatile between the high of 30,807.25, to the low of 30,326.70, and closed at 30,709.40.

According to the Nifty 4 hourly chart, Nifty is following the bullish channel and higher high lower lows pattern in 4 hourly charts. If Nifty breaks and sustains this channel upside, Then it can move towards 13,700 to 13,800 levels. Alternatively, If Nifty breaks and sustain downside, then it might retest 13,250 to 13,200 levels.

NEWS HIGHLIGHTS

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  • Cabinet approves Rs 22,810 crore outlay for Atmanirbhar Bharat Rozgar Yojana.
  • Max Financial Services concludes a stake swap with Mitsui Sumitomo.
  • Rupee settles 3 paise higher at 73.57 against US dollar.
  • Zydus Cadila gets USFDA Fast Track Designation for Saroglitazar.
  • Kalpataru Power shares fall 5% on the purchase of the land parcel.
  • Heritage Foods exits Future Retail; sells its entire holding for Rs 132 crore.
  • NSE lists American Depositary Receipts at NSE IFSC in GIFT City.
  • Mindspace REIT to raise up to Rs 200 crore via debentures.
  • Aurobindo Pharma gets USFDA nod for the sedative drug.

Trading zone for the Nifty index on 09th December 2020

Upside Resistance:-  13,569, 13,609, 13,668.

Downside Support:-  13,470, 13,410, 13,370.

Nifty 50

AdvancesDeclines
3317

In the Nifty 50, 33 stocks traded in green and whereas only 17 were declined on 09th December 2020.

Top 5 Nifty Gainer and Loser

Gainer%Loser%
UPL4.19Hindalco-1.91
Asian Paints3.42Shree Cements-1.43
IOC3.19UltraTech Cement-1.40
Kotak Mahindra2.71Wipro-1.15
HDFC Bank2.25Maruti Suzuki-0.69

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

FII and DII trading activity on NSE, BSE, and MSEI on Capital Market Segment as on 09th December 2020

FII (Cr.)DII (Cr.)
3564.23-2493.1

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