Daily Analysis of Stock Market – NIFTY – 20th April 2021

On Tuesday, The market had a gap up opening. Later, it slipped in the red. At the closing market closed in the red. The market was very much volatile today. The Nifty index closed at 14,296.40, The Nifty bank index closed above and hold 31,112.70, and the Sensex settled above 47,705.80 The Nifty index lost around -63.05 points, The Nifty bank index lost around –95.70 points, and the Sensex gained -243.62 points in a single day.

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Today, the Nifty index opened at 14,526.70 went up to 14,526.95, and closed at 14,296.40, after making the low of 14,207.30, The Nifty Bank index opened at 31,568.95 and stayed volatile between the high of 31,731.65, to the low of 30,891.00, and closed at 31,112.70.

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 14,285 levels, then it might test 14,000 to 13,800 levels.

NEWS HIGHLIGHTS

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  • Pristyn Care raises $53 million in a funding round led by Tiger Global.
  • Tech Mahindra acquires DigitalOnUs for $120 million.
  • Indian rupee to breach 76 against the dollar amid rising COVID-19 cases, economy worries.
  • Dr. Reddy’s Lab share price gains 4% on plans to launch Sputnik V by early June.
  • CRISIL Consolidated March 2021 Net Sales at Rs 495.20 crore, up 15.76% Y-o-Y.
  • Snowman Logistics shares jump 10% after Crisil affirms long-term rating.
  • Aditya Birla Capital’s share price rises 6% after subsidiary files DRHP for IPO.

Trading zone for the Nifty index on 20th April 2021

Upside Resistance:-  14,480, 14,663, 14,799.

Downside Support:-  14,160, 14,024, 13,840.

Nifty 50

AdvancesDeclines
2129

In the Nifty 50, 21 stock traded in green and whereas only 29 were declined on 20th April 2021.

Top 5 Nifty Gainer and Loser

Gainer%Loser%
Dr Reddys Labs3.80UltraTech Cement-4.75
Bajaj Finserv3.69HCL Tech-3.35
Bajaj Finance2.99HDFC-3.07
HDFC Life2.89Grasim-2.48
Bajaj Auto2.43Shree Cements-2.45

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

FII and DII trading activity on NSE, BSE, and MSEI on Capital Market Segment as on 20th April 2021

FII (Cr.)DII (Cr.)
-1082.331323.01

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