Daily Analysis of Stock Market – NIFTY – 14th May 2021

On Friday, The market had a gap up opening, Later it slipped in the red. At the closing market closed in the red. The market was very much volatile today. The Nifty index closed at 14,677.80, The Nifty bank index closed above and hold 32,169.55, and the Sensex settled above 48,732.55 The Nifty index lost around –18.70 points, The Nifty bank index lost around -282.75 points, and the Sensex gained 41.75 points in a single day.

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Today, the Nifty index opened at 14,749.40 went up to 14,749.65, and closed at 14,677.80, after making the low of 14,591.90, The Nifty Bank index opened at 32,495.15 and stayed volatile between the high of 32,622.65, to the low of 32,115.50, and closed at 32,169.55.

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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  • Dr. Reddy’s Labs Q4 profit falls 27.6% on muted US business, misses estimates.
  • IEX Consolidated March 2021 Net Sales at Rs 93.82 crore, up 35.1% Y-o-Y.
  • Lupin Standalone March 2021 Net Sales at Rs 2,515.96 crore, up 1.29% Y-o-Y.
  • UPL stock price spikes 9% to a 52-week high after earnings beat estimates.
  • Rupee ends higher at 73.29 per dollar.
  • Piramal Enterprises Q4 net loss narrows to Rs 510 cr.
  • Crude oil crashes over 4% as US pipeline reopens, extended lockdown in India hurts demand.

Trading zone for the Nifty index on 14th May 2021

Upside Resistance:-  14,754, 14,830, 14,912.

Downside Support:-  14,596, 14,515, 14,438.

Nifty 50

AdvancesDeclines
1634

In the Nifty 50, 16 stock traded in green and whereas only 34 were declined on 14th May 2021.

Top 5 Nifty Gainer and Loser

Gainer%Loser%
Asian Paints8.54Coal India-4.36
UPL7.47Tata Motors-4.22
ITC4.43Hindalco-4.01
Nestle3.03Tata Steel-3.99
LT2.18Grasim-3.21

The most active value-wise stocks were Tata Steel, UPL, Asian Paints, Tata Motors, SBI, and the volume-wise were Tata Motors, ITC, UPL, SBI, Hindalco.

FII and DII trading activity on NSE, BSE, and MSEI on Capital Market Segment as on 14th May 2021

FII (Cr.)DII (Cr.)
-2607.85613.26

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