Daily Analysis of Stock Market – NIFTY – 18th December 2020

On Friday, The market had a gap up opening, Later it slipped but At the closing, the market recovered and closed in the green. The market was very much volatile today. The Nifty index closed at 13,760.55, The Nifty bank index closed above and hold 30,714.65, and the Sensex settled above 46,960.69. The Nifty index gained around 19.85 points, The Nifty bank index lost around -132.40 points, and the Sensex gained 70.35 points in a single day.

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Today, the Nifty index opened at 13,764.40 went up to 13,772.85, and closed at 13,760.55, after making the low of 13,658.60. Nifty Bank index opened at 30,841.85 and stayed volatile between the high of 30,854.05, to the low of 30,374.50, and closed at 30,714.65.

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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  • Russia signs more deals with India to make 300 million Sputnik V vaccines.
  • Antony Waste IPO will start on 21 December 2020 and will close on 23 December 2020.
  • Rupee settles 3 paise higher at 73.56 against US dollar.
  • KNR Constructions touches 52-week high on bonus share approval.
  • RITES share price sheds 3% despite major order win.
  • ZEE shares rise 2% on acquisition distribution business from Zee Studios.
  • Oaktree mulls legal action against DHFL lenders: Report.
  • Aarti Industries, Dr Lal Path Labs, HDFC AMC to be included in NSE F&O from January.
  • BPCL board approves buying out Oman Oil’s stake in Bina refinery.

Trading zone for the Nifty index on 18th December 2020

Upside Resistance:-  13,803, 13,845, 13,917.

Downside Support:-  13,666, 13,616, 13,574.

Nifty 50

AdvancesDeclines
2921

In the Nifty 50, 29 stocks traded in green and whereas only 21 were declined on 18th December 2020.

Top 5 Nifty Gainer and Loser

Gainer%Loser%
Dr. Reddys Labs3.07IndusInd Bank-3.27
Infosys 2.64ONGC-2.46
Bajaj Auto2.36HDFC Bank-2.11
Wipro1.86Maruti Suzuki-1.74
Hindalco1.65IOC-1.52

The most active value-wise stocks were Dr. Reddys Labs, Infosys, TCS, Bajaj Finance, Reliance and the volume-wise were Infosys, Titan, Asian Paints, TCS, Divis Labs.

FII and DII trading activity on NSE, BSE, and MSEI on Capital Market Segment as on 18th December 2020

FII (Cr.)DII (Cr.)
2720.95-2424.61

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