Daily Analysis of Stock Market – NIFTY – 17th August 2020

Daily-Analysis-of-Nifty

On Monday the market had a gap up opening later it slipped. Today market traded in a particular range. At the closing market closed in the green. The market was very much volatile today. On the closing bell, the Nifty index closes at 11247, Niftybank index closed above and hold 21700 and the Sensex settled above 38050. The Nifty index gained around 68.70 points, Niftybank index gained around 21.45 points and the Sensex gained 173.44 points in a single day.

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Today, the Nifty index opened at 11248.90 went up to 11267.10, and closed at 11247.10 after making the low of 11144.50. Nifty Bank index opened at 21906.95 and stayed volatile between the high of  21909.40 to the low of 21403.15 and closed at 21700.85.

Daily Analysis of Stock Market – NIFTY – 17th August 2020 1

According to the Nifty daily chart, Nifty formed the hanging man pattern. Nifty breaks and sustain above its resistance level of 11265, Then it can go up to 11350, Alternatively, If the Nifty fall from the current level, then it might retest the level of 10900.

NEWS HIGHLIGHTS

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  • Britannia declares interim dividend of Rs 83 per share.
  • OYO founder Ritesh Agarwal joins hands with VCats to promote entrepreneurship in India.
  • Rupee settles 2 paise higher at 74.88 against US dollar.
  • Silver futures soar to 2.05% to Rs 68,550 per kg.
  • Sun TV shares jump 6% after CLSA retains ‘buy’ despite 33% dip in Q1 profit.
  • Glenmark Pharma shares gain after Q1 profit jumps two-fold to Rs 254 crore.

Trading zone for the Nifty index on 17th august 2020

Upside Resistance:-  11295, 11342, 11417.

Downside Support:-  11172, 11097, 11049.

Nifty 50

AdvancesDeclines
3911

In the Nifty 50, 39 stocks traded in green and whereas the only 11 were declined on 17th august 2020.

Top 5 Nifty Gainer and Loser

Gainer%Loser%
NTPC7.81SBI-1.73
Zee Entertain5.52Bharti Airtel-1.36
Eicher Motors4.92BPCL-1.29
Hero Motocorp4.40Reliance-1.06
Bajaj Auto4.29Tata Motors-0.84

The most active value-wise stocks were Reliance, Bajaj Finance, Eicher Motors, Axis Bank, NTPC and the volume-wise were NTPC, Tata Motors, SBI, Zee Entertain, Axis Bank.

Important Results To Be Declared Tomorrow

  • Zee Entertainment
  • J K Cements
  • Hind. Aeronautics

FII and DII trading activity on NSE, BSE and MSEI on Capital Market Segment as on 17th August 2020

FII (Cr.)DII (Cr.)
332.90-717.62