Daily Analysis of Stock Market – NIFTY – 11th January 2021

On Monday, 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. The Nifty index closed at 14,484.75, The Nifty bank index closed above and hold 31,998.90, and the Sensex settled above 49,269.32. The Nifty index gained around 137.50 points, The Nifty bank index gained around 85.30 points and the Sensex gained 486.81 points in a single day.

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Today, the Nifty index opened at 14,474.05 went up to 14,498.20, and closed at 14,484.75, after making the low of 14,310. Nifty Bank index opened at 32,280.30 and stayed volatile between the high of 32,288.45, to the low of 31,836.95, and closed at 31,998.90.

According to the Nifty daily chart, If Nifty breaks 14400 levels, Then it can move towards 14,100 to 14,000 levels. Alternatively, If Nifty doesn’t break 14400 levels, then it can go towards 14,600 to 14,700 levels.

NEWS HIGHLIGHTS

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  • Silver futures rise 1.75% to Rs 65,357 per kg on increased demand.
  • RBI bonds’ interest rate retained at 7.5% for January-March 2021.
  • Vedanta Resources launches an open offer to acquire a 10% stake in the Indian unit.
  • KKR raises $3.9 billion for the Asia Pacific infrastructure fund.
  • BHEL secures Rs 450 crore order for steam and power plant from NALCO.
  • Sadbhav Engineering share price gains 3% on bagging Rs 780-crore metro rail contract.
  • Bharti Airtel share price gains 2% on receiving a nod to raise FDI; appoints Pradipt Kapoor as CIO.
  • Ujaas Energy stock hits upper circuit after Alpha Leon Enterprises buys 13.51 lakh shares.
  • Rupee ends lower at 73.38 per dollar.

Trading zone for the Nifty index on 11th January 2021

Upside Resistance:-  14,528, 14,570, 14,643.

Downside Support:-  14,413, 14,340, 14,297

Nifty 50

AdvancesDeclines
3317

In the Nifty 50, 33 stock traded in green and whereas only 17 were declined on 11th January 2021.

Top 5 Nifty Gainer and Loser

Gainer%Loser%
Tata Motors11.36Tata Steel-2.45
HCL Tech6.08Bajaj Finserv-2.02
Infosys4.89Bajaj Finance-1.92
Wipro3.86Reliance-1.88
HDFC3.53LT-1.70

The most active value-wise stocks were Tata Motors, TCS, Reliance, Infosys, Wipro, and the volume-wise were Tata Motors, Wipro, ITC, ONGC, SBI.

FII and DII trading activity on NSE, BSE, and MSEI on Capital Market Segment as on 11th January 2021

FII (Cr.)DII (Cr.)
3138.9-2610.13

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