Daily Analysis of Stock Market – NIFTY – 11th August 2020

Daily-Analysis-of-Nifty

On Tuesday the market had a gap up opening but it was able to sustain at gap up-level and the market closed in the green. Today market traded in a particular range. The market was very much volatile today. On the closing bell, the Nifty index closes at 11322, Niftybank index closed above and hold 22227 and the Sensex settled above 38400. The Nifty index gained around 52.35 points, Niftybank index gained around 326.95 points and the Sensex gained 224.93 points in a single day.

Advertisement

Today, the Nifty index opened at 11322.25 went up to 11373.60 and closed at 11322.50 after making the low of 11299.15. Nifty Bank index opened at 22050.20 and stayed volatile between the high of  22277.60 to the low of 22039.15 and closed at 22227.20.

Daily Analysis of Stock Market – NIFTY – 11th August 2020 1

According to the Nifty daily chart, The market is expected to be bullish in upcoming sessions, once the level of 11350 breaks market will move toward 11400 to 11500 levels. Alternatively, if the market struggles to break the resistance level of 11315, then it might retest the level of 11130.

Advertisement

NEWS HIGHLIGHTS

  • HDFC raises Rs 10,000 crore equity capital in QIP; issues warrants and bonds.
  • Passenger vehicle wholesales dip 4% in July at 1,82,779 units.
  • Russia becomes the first country to approve a COVID-19 vaccine, says Vladimir Putin.
  • Indian rupee settles 12 paise higher at 74.78 against the US dollar.
  • Axis Bank shares gain 2% on raising Rs 10,000 crore via QIP.
  • BNP Paribas acquires a 0.7% stake in TVS Motor; LTS Investment Fund buys 25 lakh shares in Vikas EcoTech.
  • Titan Q1 loss at Rs 270 crore, revenue falls 62% as COVID hits performance.
  • Rajasthan govt to join hands with SIDBI to support MSMEs.

Trading zone for the Nifty index on 11th august 2020

Upside Resistance:-  11364, 11406, 11439.

Downside Support:-  11290, 11257, 11215.

Nifty 50

AdvancesDeclines
3020

In the Nifty 50, 30 stocks traded in green and whereas the only 20 were declined on 11th august 2020.

Top 5 Nifty Gainer and Loser

Gainer%Loser%
Zee Entertain5.65Shree Cements-3.77
Axis Bank3.92Titan-3.73
JSW Steel3.49UPL-2.51
BPCL3.40Cipla-2.21
Induslnd Bank2.48Dr Reddys Labs-2.03

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

Important Results To Be Declared Tomorrow

  • Graphite India
  • Natco Pharma
  • Aurobindo Pharma
  • GSFC
  • Balaji Amines
  • Cummins India
  • Kirloskar Pneumatic
  • Ashok Leyland
  • SH Kelkar & CO.
  • Advanced Enzyme
  • MAS Financial Service
  • Aster DM Healthcare
  • Fine Organic Inds.

FII and DII trading activity on NSE, BSE and MSEI on Capital Market Segment as on 11th August 2020

FII (Cr.)DII (Cr.)
1013.66-1415.54