Daily Analysis of Stock Market – NIFTY – 10th March 2021

On Wednesday, The market had a gap up opening, Later It slipped. At the closing market closed in the green. The market was very much volatile today. The Nifty index closed at 15,174.80, The Nifty bank index closed above and hold 35,938.30, and the Sensex settled above 51,279.51. The Nifty index gained around 76.40 points, The Nifty bank index gained around 72.65 points, and the Sensex gained 254.03 points in a single day.

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Today, the Nifty index opened at 15,202.15 went up to 15,218.45, and closed at 15,174.80, after making the low of 15,100.85, The Nifty Bank index opened at 36,112.25 and stayed volatile between the high of 36,176.90, to the low of 35,764.35, and closed at 35,938.30.

According to the Nifty daily chart, If Nifty breaks and sustain below 14,400 levels, Then nifty can move towards 14,200 to 14,100 levels. Alternatively, If Nifty doesn’t break and sustain below 14,400 levels, then it might retest 15,400 to 15,500 levels.

NEWS HIGHLIGHTS

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  • IEX offloads 26% stake in Indian Gas Exchange to NSE, additional 5% to ONGC.
  • Lupin’s share price up 3% on the launch of an authorized generic version of Alinia.
  • Sun Pharma share price rise over 2% after arm acquires stake in WRS Bioproducts.
  • BPCL Trust sells shares worth Rs 5,525 crore.
  • Elon Musk hits another milestone, gains $25 billion in a single-day surge.
  • Bitcoin breaks $55,000 as interest from institutional investors stirs appetite: Report.
  • Rupee ends flat at 72.91 per dollar.
  • Magma Fincorp’s share rises 5% after shareholders approve Rs 3,456 crore share issue to Poonawalla firm, promoters.

Trading zone for the Nifty index on 10th March 2021

Upside Resistance:-  15,229, 15,282, 15,346.

Downside Support:-  15,111, 15,047, 14,993.

Nifty 50

AdvancesDeclines
3616

In the Nifty 50, 36 stock traded in green and whereas only 16 were declined on 10th March 2021.

Top 5 Nifty Gainer and Loser

Gainer%Loser%
JSW Steel3.09SBI Life-3.15
Eicher Motors3.07ONGC-2.01
Tata Steel2.51IOC-1.69
Bajaj Finance2.40HDFC Life-1.20
Hindalco2.13GAIL-0.91

The most active value-wise stocks were Tata Motors, Tata Steel, Bajaj Finance, Reliance, Infosys, and the volume-wise were Tata Motors, ONGC, IOC, SBI, GAIL, IOC.

FII and DII trading activity on NSE, BSE, and MSEI on Capital Market Segment as on 10th March 2021

FII (Cr.)DII (Cr.)
-15.69447.67

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