Daily Analysis of Stock Market – NIFTY – 16th April 2021

On Friday, The market had a gap up opening, and it remained in the green. At the closing market closed in the green. The market was very much volatile today. The Nifty index closed at 14,617.85, The Nifty bank index closed above and hold 31,977.45, and the Sensex settled above 48,832.03 The Nifty index gained around 36.40 points, The Nifty bank index lost around –135.40 points, and the Sensex gained 28.35 points in a single day.

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Today, the Nifty index opened at 14,599.60 went up to 14,697.70, and closed at 14,617.85, after making the low of 14,559.00, The Nifty Bank index opened at 32,161.45 and stayed volatile between the high of 32,325.15, to the low of 31,911.90, and closed at 31,977.45.

According to the Nifty daily chart, If Nifty breaks and sustain above 14,890. Then Nifty can go towards 15,000 to 15,200 levels, Alternatively, If Nifty breaks and sustain below 14,300 levels, then it might retest 14,000 to 13,800 levels.

NEWS HIGHLIGHTS

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  • Mindtree’s Q4 profit falls 2.8% to Rs 317.3 crore, dollar revenue growth at 5.2%.
  • Silver futures fall marginally to Rs 68,422 per kg on a strong rupee.
  • Rakesh Jhunjhunwala adds 5 lakh shares of MCX in Q4FY21.
  • Angel Broking’s share price jump 15% on the highest-ever monthly client acquisition in March.
  • Turkey bans the use of cryptocurrencies for payments, sends Bitcoin down.
  • Vivimed Labs shares surge 20% on approvals for 3 products.
  • Ashoka Buildcon share price rises 11% on Gujarat Rail Infrastructure project win.
  • Rupee ends near day’s high at 74.35 per dollar.

Trading zone for the Nifty index on 16th April 2021

Upside Resistance:-  14,690, 14,763, 14,829.

Downside Support:-  14,552, 14,486, 14,413.

Nifty 50

AdvancesDeclines
3614

In the Nifty 50, 36 stock traded in green and whereas only 14 were declined on 16th April 2021.

Top 5 Nifty Gainer and Loser

Gainer%Loser%
Wipro8.94JSW Steel-1.54
Hindalco4.65ICICI Bank-1.43
Asian Paints2.94LT-1.13
UltraTech Cement2.69Bajaj Finance-0.94
Cipla2.61Tata Steel-0.89

The most active value-wise stocks were Wipro, Adani Ports, Tata Motors, Tata Steel, Infosys, and the volume-wise were Wipro, Tata Motors, Adani Ports, SBI, Hindalco.

FII and DII trading activity on NSE, BSE, and MSEI on Capital Market Segment as on 16th April 2021

FII (Cr.)DII (Cr.)
437.51657.55

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