Daily Analysis of Stock Market – NIFTY – 14th December 2020

On Monday, The market had a gap up opening, Later it slipped in red but at the closing, it closed in green. The market was very much volatile today. The Nifty index closed at 13,558.15, The Nifty bank index closed above and hold 30,745.90, and the Sensex settled above 46,253.46. The Nifty index gained around 44.30 points, The Nifty bank index gained around 141.05 points, and the Sensex gained 154.45 points in a single day.

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Today, the Nifty index opened at 13,571.45 went up to 13,597.50, and closed at 13,558.15, after making the low of 13,472.45. Nifty Bank index opened at 30,735.15 and stayed volatile between the high of 30,845.80, to the low of 30,624.25, and closed at 30,745.90.

According to the Nifty hourly chart, Nifty is following the bullish channel and higher high lower lows pattern in hourly charts. If Nifty breaks and sustains this channel upside, Then it can move towards 13,700 to 13,800 levels. Alternatively, If Nifty breaks and sustain downside, then it might retest 13,250 to 13,200 levels.

NEWS HIGHLIGHTS

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  • DHFL case | Ex-promoter Kapil Wadhawan proposes to repay 100% to creditors in 7-8 years.
  • Tamil Nadu government signs 18 MoUs worth Rs 19,955 crore, move likely to generate 26,500 jobs.
  • Rupee settles 9 paise higher at 73.55 against US dollar.
  • Torrent Gas to invest Rs 5,000 crore in Chennai city gas project.
  • L&T share price gains nearly 6% after order wins for construction arm.
  • IRCTC shares jump 6% after OFS concludes.
  • Aon acquires a 49% stake in Anviti Insurance Brokers.
  • Ola to invest Rs 2,400 crore to set up an e-scooter factory in Tamil Nadu.
  • Anjani Portland Cement shares dip 2% after I-T Department searches company offices.

Trading zone for the Nifty index on 14th December 2020

Upside Resistance:-  13,613, 13,668, 13,738.

Downside Support:-  13,488, 13,418, 13,363.

Nifty 50

AdvancesDeclines
2030

In the Nifty 50, 20 stocks traded in green and whereas only 30 were declined on 14th December 2020.

Top 5 Nifty Gainer and Loser

Gainer%Loser%
ONGC5.62Eicher Motors-2.85
L&T4.63Hero Motocorp-2.25
Cipla4.43M&M-2.18
Coal India3.69HDFC Life-1.32
IOC2.50Wipro-1.17

The most active value-wise stocks were Reliance, Cipla, ICICI Bank, L&T, HDFC Bank, and the volume-wise were ONGC, NTPC, Coal India, IOC, Tata Motors.

FII and DII trading activity on NSE, BSE, and MSEI on Capital Market Segment as on 14th December 2020

FII (Cr.)DII (Cr.)
2264.38-1721.11

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