Daily Analysis

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

On Thursday the market opened flat to positively and stayed bearish, settled in the red. The market was trading in volatility under the arm of bears. On the closing bell, the Nifty index ended above 12150, the Niftybank index settled above 31200 and the Sensex closed below 41500. The Nifty index loses more than -25 points, Niftybank loses more than -250 points and the Sensex loses over -100 points respectively.

Today, the Nifty index opened at 12119.55 went up to 12225.65 and closed at 12176.65 after making a low of 12139.80. The Niftybank index opened at 31586.55 and stayed volatile between 31650 to 31180.60 and closed at 31230.25.

As per the last view, ‘if the Nifty index holds above 12185 then this up move will continue till 12265 to 12375 in the coming days and if the Nifty index break below 12185 then it can fall till 12160 to 12100‘ and today the index opened below 12185, fell till 12140.

For the next day trading, if the Nifty index breaks above 12232 then it can go up to 12265 to 12350. If the Nifty index breaks below 12135 then again it can fall towards 12100.

Above is an hourly chart of the Nifty index. It can be seen from the above chart that on the trading day it has broken the near resistance and traded above it. It also can be seen that the market is moving up by taking the near term small support and moved up from 11990 to 12200. The market is in fear of global issues like Coronavirus which is spreading widely and affecting the markets. Technically, the market is in a positive move and can continue its upside movement in the coming trading sessions.

NEWS HIGHLIGHTS

  • Yes Bank rose as JC Flowers led consortium mulls $2 billion funding.
  • Coronavirus suspect on Bangkok-Delhi SpiceJet flight quarantined.
  • Tata Steel cuts 800 jobs in Europ.
  • Bharti Airtel subsidiaries to raise an additional $250 mn via perpetual bonds.
  • Finance Minister notifies common application form for FPI registration.
  • SEBI asks NSE to divest an entire 37% stake in CAMS.
  • Tata Sons to hike stake in Tata Chemical to 25.26% by acquiring shares from group firms.
  • Allahabad Bank cuts MCLR by 5 bps across tenors.

Trading zone for the Nifty index on 14th February 2020

Upside Resistance:-  12185. 12220, 12265.

Downside Support:-  12135, 12100, 11990.

Nifty 50

AdvancesDeclines
2129

In the Nifty 50, 33 stocks traded in green and 16 were declined 12th February 2020.

Top 5 Nifty Gainer and Loser

Gainer%Loser%
YESBANK6.39INDUSINDBK-3.57
DRREDDY3.95TATASTEEL-1.77
ZEEL2.56NTPC-1.71
SBIN2.28ICICIBANK-1.68
TITAN2.25KOTAKBANK-1.48

The most active value-wise stocks were SBIN, RELIANCE, INDUSINDBK, HINDUNILVR, YES BANK and the volume-wise were YES BANK, SBIN, TATAMOTORS, GAIL, ZEEL.

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