Daily Analysis

Daily Analysis of Stock Market – NIFTY – 10th January 2020

Daily-Analysis-of-Nifty

On Friday the market opened in gap up and settled positively. The market stayed highly volatile and moved uncertainly. On the closing bell, the Nifty index ends above 12250, the Niftybank index settled above 32000 and the Sensex closed at 41600. The Nifty index gains 40 points, Niftybank index gains 5 points and the Sensex gains around 150 points respectively.

Today, the Nifty index opened at 12271 went up to 12311.20 and closed at 12256.80 after making a low of 12213.20. The Niftybank index opened at 32215.70 and stayed volatile between 32347.20 to 31953.40 and closed at 32097.40.

As per the last view, ‘ if the Nifty index stays above 12000 then further upsides can be seen till 12155 or more and if the Nifty index breaks and sustains below 12000 then again it can fall from 11974 to 11935‘ the index stayed hold 12000 and today gave new all-time high.

For the next day trading, if the Nifty index stays above 12260 then it can go up to 12310 to 12360. If the Nifty index sustains below 12260 then it can fall from 12210 to 12140.

Daily Analysis of Stock Market – NIFTY – 10th January 2020 3

From the above hourly chart of the Nifty index, it can be seen that it has broken the resistance of 12293. Technically, the market looks positive and it can give more highs in the coming days. Indicators like MACD, RSI is losing momentum hence profit booking can be seen on the upper level. The market is now uncertain and will remain volatile in the coming days.

NEWS HIGHLIGHTS

  • I-T Department carries out searches at Aarti Industries premises.
  • ED to issue fresh summon to Edelweiss’ Rashesh Shah.
  • SC stays NCLAT order reinstating Mistry as Tata Sons executive.
  • Yes bank to raise Rs 10000 cr via a mix of equity, debt.
  • ICICI Bank-videocon case: ED attaches assets of former ICICI Bank CEO Chanda Kochhar.
  • Government to seek RBI dividend lifeline amid revenue shortfall.
  • Infosys Q3 profit jumps 11% raises FY20 revenue guidance to 10-10.5%.
  • China Mobile looking at India entry, approaches Vodafone Idea, Airtel.

Trading zone for the Nifty index on 13th January 2020

Upside Resistance:-  12060, 12310, 12360.

Downside Support:-  12210, 12160, 12065.

Nifty 50

AdvancesDeclines
3119

In the Nifty 50, 31 stocks traded in green whereas the 19 were declined on 10th January 2020.

Top 5 Nifty Gainer and Loser

Gainer%Loser%
COAL INDIA3.28YESBANK-4.97
INFY1.71ZEEL-3.49
ULTRACEMCO1.57INDUSINDBK-1.17
MARUTI1.40ICICIBANK-1.13
GAIL1.37TITAN-0.82

The most active value-wise stocks were BHARTIARTL, SBIN, YES BANK, TATAMOTORS, RELIANCE and the volume-wise were YES BANK, SBIN, TATAMOTORS, SBIN, BHARTIARTL, VEDL.

GSI Team

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