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

On Thursday, The market had a gap up opening and it remained in green for the whole session. At the closing, the market closed in the green. The market was very much volatile today. The Nifty index closed at 13,740.70, The Nifty bank index closed above and hold 30,847.05, and the Sensex settled above 46,890.34. The Nifty index gained around 58.00 points, The Nifty bank index gained around 148.65 points, and the Sensex gained 223.88 points in a single day.

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Today, the Nifty index opened at 13,713.55 went up to 13,773.25, and closed at 13,740.70, after making the low of 13,673.55. Nifty Bank index opened at 30,791.20 and stayed volatile between the high of 30,945.20, to the low of 30,643.90, and closed at 30,847.05.

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 13,800 to 13,900 levels. Alternatively, If Nifty breaks and sustain downside, then it might retest 13,500 to 13,400 levels.

NEWS HIGHLIGHTS

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  • Burger King shares take the first fall, hit a 10% lower circuit after rallying 265%.
  • Mrs. Bectors Food IPO subscribed 197 times on the final day
  • Manappuram Finance board okays Rs 400 crore fundraise via bonds.
  • Mindspace REIT raises Rs 200 crore via debentures.
  • Multiples Private Equity Fund, persons acting in concert sell 2.17% stake in PVR for Rs 176.5 crore.
  • Navin Fluorine shares jump 5% on capital expenditure plan.
  • Divi’s Laboratories shares climb 3%; stock crosses Rs 1 lakh crore m-cap mark.
  • IndusInd Bank shares rise 3% after Sebi grants promoters extension to infuse capital.
  • Jubilant FoodWorks shares hit a 52-week high on the launch of the Biryani brand.
  • Rupee ends flat at 73.58 per dollar.

Trading zone for the Nifty index on 17th December 2020

Upside Resistance:-  13,785, 13,829, 13,884.

Downside Support:-  13,685, 13,529, 13,585.

Nifty 50

AdvancesDeclines
1535

In the Nifty 50, 15 stocks traded in green and whereas only 35 were declined on 17th December 2020.

Top 5 Nifty Gainer and Loser

Gainer%Loser%
HDFC2.88Hindalco-2.23
Divis Labs2.87Adani Ports-1.64
Bajaj Finance2.72Power Grid Corp-1.48
HDFC Bank2.20Coal India-1.41
IndusInd Bank1.52ONGC-1.36

The most active value-wise stocks were Bajaj Finance, Reliance, HDFC, HDFC Bank, IndusInd Bank and the volume-wise were ONGC, Tata Motors, SBI, ICICI Bank, ITC.

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

FII (Cr.)DII (Cr.)
2355.25-2494.36

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