Daily Analysis of Stock Market – NIFTY – 22nd December 2020

On Tuesday, The market had a gap up opening, Later it slipped in red but at the closing, the market closed in the green. The market was very much volatile today. The Nifty index closed at 13,466.30, The Nifty bank index closed above and hold 29,625.95, and the Sensex settled above 46,006.69. The Nifty index gained around 137.90 points, The Nifty bank index gained around 169.50 points, and the Sensex gained 452.73 points in a single day.

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Today, the Nifty index opened at 13,373.65 went up to 13,492.05, and closed at 13,466.30, after making the low of 13,192.90. Nifty Bank index opened at 29,607.50 and stayed volatile between the high of 29,711.15, to the low of 28,976.75, and closed at 29,625.95.

According to the Nifty hourly chart, Nifty broke the bullish channel and Now it Can move towards 13,100 to 12,900 levels. Alternatively, If Nifty breaks and sustain above 13600, then it might retest 13,700 to 13,800 levels.

NEWS HIGHLIGHTS

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  • PhonePe launches a new voice notification feature for the Business app in 9 languages.
  • Rupee settles 5 paise lower at 73.84 against US dollar.
  • GIC Pte partners with ESR Cayman for $750 million JV for investment in industrial, logistics realty in India.
  • Aster DM Healthcare to invest around $100 million to set up a hospital in the Cayman Islands.
  • Zee Entertainment shares dip 4% after Delhi HC dismisses company appeal.
  • Manappuram Finance raises Rs 400 crore by issuing bonds.
  • Dr. Reddy’s seeks approval from Health Canada for Favipiravir.
  • Glance raises $145 million from Google, Mithril Capital.
  • Paytm Payments Bank outperforms all-important banks in terms of UPI payments: NPCI report

Trading zone for the Nifty index on 22nd December 2020

Upside Resistance:-  13,575, 13,683, 13,876.

Downside Support:-  13,275, 13,085, 12,976.

Nifty 50

AdvancesDeclines
446

In the Nifty 50, 0 stock traded in green and whereas only 50 were declined on 22nd December 2020.

Top 5 Nifty Gainer and Loser

Gainer%Loser%
Adani Ports5.49Kotak Mahindra-0.93
HCL Tech4.98Bajaj Finance-0.60
Tech Mahindra4.17HDFC-0.46
Infosys3.67IndusInd Bank-0.24
GAIL3.31Hindalco-0.17

The most active value-wise stocks were Bajaj Finance, Reliance, IndusInd Bank, Tata Motors, ICICI Bank, and the volume-wise were Tata Motors, ONGC, SBI, GAIL, ITC.

FII and DII trading activity on NSE, BSE, and MSEI on Capital Market Segment as on 22nd December 2020

FII (Cr.)DII (Cr.)

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