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

Daily-Analysis-of-Nifty

On Thursday 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, On the closing bell, the Nifty index closed at 11449.25, The Nifty bank index closed above and hold 22466.20, and the Sensex settled above 38840.32. The Nifty index gained around 171.25 points, The Nifty bank index gained around 199.20 points and the Sensex gained 646.40 points in a single day.

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Today, the Nifty index opened at 11363.30 went up to 11464.05, and closed at 11449.25, after making the low of 11327.40. Nifty Bank index opened at 22466.55 and stayed volatile between the high of  22678.65 to the low of 22225.25, and closed at 22466.20.

Daily Analysis of Stock Market – NIFTY – 10th September 2020 1

According to the Nifty Daily chart, Today Nifty broke and sustained above its resistance level of 11385, Now Nifty can go towards 11500 to 11700 levels Alternatively, If the Nifty closes below 11385 levels, then it might retest 11000 to 10900 levels.

NEWS HIGHLIGHTS

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  • Indiabulls Housing sells part stake in OakNorth for Rs 440 crore.
  • Silver futures rise 0.37% to Rs 68,697 per kg.
  • The India rupee settles 9 paise higher at 73.46 against the US dollar.
  • Zerodha’s Rainmatter leads to investment in learning firm QShala.
  • Zomato raises $102 million from Tiger Global, valued at $3.4 billion
  • PM Modi launches Rs 20,050 crore scheme for the fisheries sector.
  • SBI raises Rs 4,000 crore via AT1 bonds; stock up 3%.
  • Route Mobile IPO subscribed 2.6 times on 2nd day of bidding, HNIs fully booked.

Trading zone for the Nifty index on 10th September 2020

Upside Resistance:-  11500, 11550, 11636.

Downside Support:-  11363, 11277, 11226.

Nifty 50

AdvancesDeclines
3218

In the Nifty 50, 32 stocks traded in green and whereas the only 18 were declined on 10th September 2020.

Top 5 Nifty Gainer and Loser

Gainer%Loser%
Reliance7.06Bharti Infratel-4.99
BPCL6.00Hindalco-3.36
Asian Paints3.92Tata Steel-2.25
Grasim3.81Bharti Airtel-1.37
IOC3.72Dr. Reddys Labs-1.11

The most active value-wise stocks were Reliance, Bajaj Finance, Axis Bank, SBI, Tata Motors, and the volume-wise were Tata Motors, SBI, Reliance, Zee Entertain, Axis Bank.

FII and DII trading activity on NSE, BSE, and MSEI on Capital Market Segment as on 10th September 2020

FII (Cr.)DII (Cr.)
838.37-317.3