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

On Wednesday, The market had a gap down opening and remained in the red for the whole session. At the closing market closed in the red. The market was very much volatile today. The Nifty index closed at 14,696.50, The Nifty bank index closed above and hold 32,452.30, and the Sensex settled above 48,690.80 The Nifty index lost around –154.25 points, The Nifty bank index lost around -419.90 points, and the Sensex lost –471.01 points in a single day.

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Today, the Nifty index opened at 14,823.55 went up to 14,824.05, and closed at 14,696.50, after making the low of 14,649.70, The Nifty Bank index opened at 32,717.65 and stayed volatile between the high of 32,747.70, to the low of 32,352.30, and closed at 32,452.30.

According to the Nifty daily chart, Nifty broke and sustained above 14,890. Now nifty can go towards 15,100 to 15,200 levels, Alternatively, If Nifty breaks and sustain below 14,890 levels, then it might retest 14,600 to 14,500 levels.

NEWS HIGHLIGHTS

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  • RBI announces the second tranche of open market purchase under G-SAP 1.0 for Rs 35,000 crore.
  • Panacea Biotech share price up 5% after govt pushes for a ramp-up in the production of COVAXIN.
  • Asian Paints Q4 profit jumps 81% to Rs 870 crore, volume and revenue beat estimates.
  • Voltas Q4 net profit up 49.4% at Rs 239 crore.
  • SpiceJet to start vaccination drive for all employees from May 17.
  • Dishman Carbogen shares tumble 10% after reporting a net loss of Rs 135.02 crore in Q4.
  • Godrej Consumer share price hits upper circuit after 59% jump in Q4 profit.
  • Rupee ends lower at 73.42 per dollar.

Trading zone for the Nifty index on 12th May 2021

Upside Resistance:-  14,797, 14,898, 14,971.

Downside Support:-  14,623, 14,549, 14,448.

Nifty 50

AdvancesDeclines
1238

In the Nifty 50, 12 stock traded in green and whereas only 38 were declined on 12th May 2021.

Top 5 Nifty Gainer and Loser

Gainer%Loser%
Tata Motors3.31Tata Steel-4.44
Titan1.37JSW Steel-3.59
Maruti Suzuki1.20IndusInd Bank-3.39
Power Grid1.14Hindalco-3.39
UPL1.07HUL-3.05

The most active value-wise stocks were Tata Steel, Tata Motors, SBI, Reliance, JSW Steel, and the volume-wise were Tata Motors, NTPC, SBI, ONGC, Coal India.

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

FII (Cr.)DII (Cr.)
-1260.59-704.36

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