Daily Analysis of Stock Market – NIFTY – 21st October 2020

Daily-Analysis-of-Nifty

On Wednesday, The market had a gap up opening, Later it slipped but recovered in the afternoon. At the closing, the market closed in the green. The market was very much volatile today, the Nifty index closed at 11,937.65, The Nifty bank index closed above and hold 24,635.05, and the Sensex settled above 40,707.31. The Nifty index gained around 40.85 points, The Nifty bank index gained around 323.25 points, and the Sensex gained 162.94 points in a single day.

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Today, the Nifty index opened at 11,958.55 went up to 12,018.65, and closed at 11,937.65, after making the low of 11,775.75. Nifty Bank index opened at 24,444.20 and stayed volatile between the high of  24,823.60 to the low of 24,099.85, and closed at 24,635.05.

Daily Analysis of Stock Market – NIFTY – 21st October 2020 1

According to the Nifty Daily chart, If the Nifty breaks and sustain above 12,025 levels, Then Nifty can go towards 12,100 to 12,200 levels Alternatively, If the Nifty breaks and sustain below 11780 levels, then it might retest 11600 to 11500 levels.

NEWS HIGHLIGHTS

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  • UltraTech Cement Q2 profit jumps 113% to Rs 1,235 crore.
  • Colgate Palmolive Q2 profit up 12%, declares interim dividend of Rs 18 per share.
  • Rakesh Jhunjhunwala cuts stake in Escorts to 5.64%; shares slip in trade.
  • Bajaj Finance Q2 profit declines 36% to Rs 965 crore, NII growth beats estimates at 4%.
  • Pakistan unlikely to exit FATF’s grey list: Report.
  • Alembic Pharma gets USFDA nod for a cholesterol-lowering drug.
  • Silver futures rise marginally to Rs 63,470 per kg, resistance is seen at Rs 64,900.

Trading zone for the Nifty index on 21st October 2020

Upside Resistance:-  12,046, 12,154, 12,289.

Downside Support:-  11,803, 11,668, 11,560.

Nifty 50

AdvancesDeclines
3020

In the Nifty 50, 30 stocks traded in green and whereas only 20 were declined on 21st October 2020.

Top 5 Nifty Gainer and Loser

Gainer%Loser%
Power Grid Corp4.17Britannia-4.39
Bharti Airtel3.46TCS-2.32
Tata Steel2.97SBI Life Insurance-1.92
Hindalco2.85Hero Motocorp-1.83
GAIL2.28HDFC Life-1.45

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

Results To Be Declared Tomorrow
Biocon
Asian Paints
Hexaware Tech
Bharti Infratel
Mphasis
Bajaj Holdings
L&T Finance Holdings
Ambuja Cements
UCO Bank
Alembic Pharma
Sterlite Tech
Bajaj Auto
HDFC AMC
SBI Cards

FII and DII trading activity on NSE, BSE, and MSEI on Capital Market Segment as on 21st October 2020

FII (Cr.)DII (Cr.)
2108.48-1633.53