Daily Analysis of Stock Market – NIFTY – 12th January 2021

On Tuesday, The market had a gap down opening Later, it recovered. At the closing, the market closed in the green. The market was very much volatile today. The Nifty index closed at 14,563.45, The Nifty bank index closed above and hold 32,339.00, and the Sensex settled above 49,517.11. The Nifty index gained around 78.70 points, The Nifty bank index gained around 340.10 points and the Sensex gained 247.79 points in a single day.

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Today, the Nifty index opened at 14,473.80 went up to 14,590.65, and closed at 14,563.45, after making the low of 14,432.85 Nifty Bank index opened at 31,835.05 and stayed volatile between the high of 32,397.95, to the low of 31,725.85, and closed at 32,339.00.

According to the Nifty daily chart, If Nifty break the bullish channel upside, Then it Can move towards 15,000 to 15,100 levels. Alternatively, If Nifty doesn’t break the bullish channel up, then it might retest 14,100 to 14,000 levels.

NEWS HIGHLIGHTS

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  • Rupee recovers losses, settles 15 paise higher at 73.25 against US dollar.
  • Karnataka Bank’s share price jumps 11% on robust Q3 numbers.
  • SEBI imposes Rs 85 lakh fine on Orient Resorts, 2 individuals, for non-compliance with its directive.
  • SpiceJet transports 4 million doses of the COVID-19 vaccine on the first day.
  • Rakesh Jhunjhunwala buys a 1.12% stake in Tata Communications in Q3FY21.
  • Steel Strips Wheels share price up 4% on robust Q3 numbers.
  • SpiceJet ties up with Brussels Airport to transport vaccines to Europe.
  • Shubhalakshmi Panse resigns as PNB Housing Finance independent director.
  • SoftBank Group sells Uber shares worth $2 billion.

Trading zone for the Nifty index on 12th January 2021

Upside Resistance:-  14,625, 14,687, 14,783.

Downside Support:-  14,467, 14,371, 14,310

Nifty 50

AdvancesDeclines
2723

In the Nifty 50, 33 stock traded in green and whereas only 17 were declined on 12th January 2021.

Top 5 Nifty Gainer and Loser

Gainer%Loser%
Tata Motors11.36Asian Paints-4.52
GAIL4.20Titan Company-2.35
Eicher Motors3.76HUL-2.19
SBI3.54Nestle-2.13
Coal India3.49Sun Pharma-1.83

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

FII and DII trading activity on NSE, BSE, and MSEI on Capital Market Segment as on 12th January 2021

FII (Cr.)DII (Cr.)
571.47-1334.5

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