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

Daily-Analysis-of-Nifty

On Tuesday, The market had a gap up opening and 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 12,874.20, The Nifty bank index closed above and hold 29,181.30, and the Sensex settled above 43,952.71. The Nifty index gained around 93.95 points, The Nifty bank index gained around 587 points, and the Sensex gained 314.73 points in a single day.

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Today, the Nifty index opened at 12,932.50 went up to 12,934.05, and closed at 12,874.20, after making the low of 12,797.10. Nifty Bank index opened at 28,792.25 and stayed volatile between the high of 29,239.25 to the low of 28,722.90, and closed at 29,181.30.

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

According to the Nifty Daily chart, Today Nifty broke and sustained above 12,840 levels, Now it can go towards 13,000 to 13,200 levels Alternatively, If the Nifty breaks and sustain above 12,780 levels, then it might retest 12,600 to 12,500 levels.

NEWS HIGHLIGHTS

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  • Insurtech platform Turtlemint raises $30 million in funding led by GGV Capital.
  • IIFL Finance stock hits 20% upper circuit on Rs 100 crore fundraising; volume surges.
  • Embassy Office Park REIT acquires Embassy Tech Village for Rs 9,782 crore.
  • NSE Academy acquires technology education firm TalentSprint.
  • TCS to build investment insights solutions for the capital markets industry.
  • Kris Gopalakrishnan appointed the first chairperson of Reserve Bank Innovation Hub.
  • Funds, securities worth Rs 2,300 crore settled in Karvy case, says NSE.
  • Pfizer moves US court against Aurobindo Pharma, Dr. Reddy’s on cancer drug.
  • Saudi Aramco markets five-tranche dollar bonds.

Trading zone for the Nifty index on 17th November 2020

Upside Resistance:-  12,940, 13,005, 13,077.

Downside Support:-  12,803, 12,732, 12,666.

Nifty 50

AdvancesDeclines
3218

In the Nifty 50, 32 stocks traded in green and whereas only 18 were declined on 17th November 2020.

Top 5 Nifty Gainer and Loser

Gainer%Loser%
Tata Steel6.20BPCL-4.41
Tata Motors6.15Hero MotoCorp-2.71
HDFC Life5.34NTPC-2.42
SBI4.59IOC-1.96
Adani Ports3.70HCL Tech-1.87

The most active value-wise stocks were Reliance, Tata Steel, Bajaj Finance, HDFC Bank, SSBI, and the volume-wise were Tata Motors, SBI, Tata Steel, NTPC, ICICI Bank.

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

FII (Cr.)DII (Cr.)
4905.35-3829.16