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

On Wednesday, The market had a gap up opening and it remained in green for the whole session. At the closing market closed in the green. The market was very much volatile today. The Nifty index closed at 14,644.70, The Nifty bank index closed above and hold 32,543.70, and the Sensex settled above 49,792.12. The Nifty index gained around 123.55 points, The Nifty bank index gained around 118.85 points and the Sensex gained 393.83 points in a single day.

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Today, the Nifty index opened at 14,538.30 went up to 14,666.45, and closed at 14,644.70, after making the low of 14,517.55, The Nifty Bank index opened at 32,388.95 and stayed volatile between the high of 32,607.45, to the low of 32,322.90, and closed at 32,644.70.

According to the Nifty daily chart, If Nifty break the bullish channel upside, Then it can move towards 15,000 to 15,100 levels. Alternatively, If Nifty doesn’t break the bullish channel up, then it might retest 14,100 to 14,000 levels.

NEWS HIGHLIGHTS

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  • Rupee gains for 2nd straight day; settles 12 paise higher at 73.05/USD.
  • Bajaj Finance Q3 profit falls 29% YoY, net interest income declines 5%.
  • Federal Bank Consolidated December 2020 Net Interest Income (NII) at Rs 1,528.44 crore, up 26.49% Y-o-Y.
  • Sundaram Finance appoints Rajiv Lochan as the next MD, effective from April 1.
  • Govt raises authorized capital of Punjab & Sind Bank to Rs 10,000 crore.
  • LT Foods acquires a 30% stake in a Netherlands-based organic specialty food firm.
  • Ripplr gets $3 million in Series A funding from Zephyr Peacock, others.
  • Tata Group in final stages of buying stakes in BigBasket, e-pharmacy 1mg: Report
  • Adani Green Energy commissions 150 MW solar plant in Kutchh.

Trading zone for the Nifty index on 19th January 2021

Upside Resistance:-  14,701, 14,758, 14,850.

Downside Support:-  14,552, 14,461, 14,404.

Nifty 50

AdvancesDeclines
3515

In the Nifty 50, 35 stock traded in green and whereas only 15 were declined on 20th January 2021.

Top 5 Nifty Gainer and Loser

Gainer%Loser%
Tata Motors6.28Power Grid Corp-1.75
Adani Ports4.84Shree Cements-1.62
Wipro3.42NTPC-1.35
Maruti Suzuki2.81GAIL-1.18
Tech Mahindra2.72SBI Life -0.85

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

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

FII (Cr.)DII (Cr.)
2289.05-864.62

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