Daily Analysis of Stock Market – NIFTY – 13th August 2020

Daily-Analysis-of-Nifty

On Thursday the market had a gap up opening later it slipped. At the closing market closed in the red. The market was very much volatile today because of weekly expiry. On the closing bell, the Nifty index closes at 11300, Niftybank index closed above and hold 22196 and the Sensex settled above 38300. The Nifty index lost around -7.95 points, Niftybank index lost around -67.65 points and the Sensex lost -59.14 points in a single day.

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Today, the Nifty index opened at 11334.85 went up to 11359.30, and closed at 11300.45 after making the low of 11269.95. Nifty Bank index opened at 22395.20 and stayed volatile between the high of  22439.95 to the low of 22139.60 and closed at 22196.50.

Daily Analysis of Stock Market – NIFTY – 13th August 2020 1

According to the Nifty daily chart, Nifty is trying to break its resistance level of 11350. Once nifty will break and sustain above this level, nifty will move toward 11400 to 11500 levels. Alternatively, if the market struggles to break the resistance level of 11350, then it might retest the level of 11130.

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NEWS HIGHLIGHTS

  • Sebi rejects traders’ demands for cross margin facility on commodity indices.
  • MSCI may reverse its decision on Bharti Airtel’s weight; shares pare losses.
  • Alembic Pharma share price gains 3% on USFDA approval for antifungal.
  • Zydus Cadila launches COVID-19 drug Remdesivir in India.
  • Tata Power share price jumps 8% after Q1 profit rises.
  • eClerx Services shares hit upper circuit after Q1 profit jumps 30% YoY.
  • Aurobindo Pharma shares fall 3% despite a 22% jump in Q1 profit.

Trading zone for the Nifty index on 13th august 2020

Upside Resistance:-  11340, 11399, 11439.

Downside Support:-  11261, 11221, 11171.

Nifty 50

AdvancesDeclines
2525

In the Nifty 50, 25 stocks traded in green and whereas the only 25 were declined on 13th august 2020.

Top 5 Nifty Gainer and Loser

Gainer%Loser%
Tata Motors4.63Bharti Airtel-2.25
Hindalco4.41Sun Pharma-2.13
L&T4.31Eicher Motors-2.01
Titan3.91NTPC-1.63
Bharti Infratel3.47HDFC Life-1.48

The most active value-wise stocks were Reliance, Bharti Airtel, Bajaj Finance, SBIN, Tata Motors, and the volume-wise were Tata Motors, SBIN, Bharti Airtel, Hindalco, ICICI Bank.

Important Results To Be Declared Tomorrow

  • NTPC
  • Voltas
  • United Breweries
  • Hindalco Industries
  • MRF
  • Indian Bank
  • Glennmark Pharma
  • Berger Paints India
  • Forties Healthcare
  • New India Assurance
  • IIFL Wealth Management

FII and DII trading activity on NSE, BSE and MSEI on Capital Market Segment as on 13th August 2020

FII (Cr.)DII (Cr.)
416.28-763.54