Daily Analysis of Stock Market – NIFTY – 22nd February 2021

On Monday, The market had a flat opening, Later it slipped in red. At the closing market closed in the red. The market was very much volatile today. The Nifty index closed at 14,675.70, The Nifty bank index closed above and hold 35,257.20, and the Sensex settled above 49,744.32. The Nifty index lost around -306.05 points, The Nifty bank index lost around -584.40 points and the Sensex lost -1145.44 points in a single day.

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Today, the Nifty index opened at 14,999.05 went up to 15,010.10, and closed at 14,675.70, after making the low of 14,635.05, The Nifty Bank index opened at 35,874.30 and stayed volatile between the high of 36,128.90, to the low of 35,097.55, and closed at 35,257.20.

According to the Nifty daily chart, If Nifty breaks and sustain below 14,675, Then it can move towards 14,400 to 14,300 levels. Alternatively, If Nifty doesn’t break the 14,675 levels, then it might retest 15,250 to 15,300 levels.

NEWS HIGHLIGHTS

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  • Larsen & Toubro wins ‘large’ contracts in the power transmission segment.
  • Intellect Design Arena share price rises 4%.
  • Small business lender Kinara Capital secures $10 million from IndusInd Bank.
  • Karnataka Bank shares fall 3% on reporting Rs 34.16 crore fraud in IL&FS Transport.
  • Rupee gains 15 paise to close at 72.50 per dollar.
  • China calls for a reset in Sino-US relations with the Joe Biden administration.
  • Muthoot Homefin plans to disburse Rs 700 crore home loans in FY22.
  • India signs a $50 million defense LoC agreement to boost the maritime capabilities of Maldives.
  • DBS facing lawsuits in India after the takeover of Lakshmi Vilas Bank.

Trading zone for the Nifty index on 22nd February 2021

Upside Resistance:-  14,912, 15,149, 15,287.

Downside Support:-  14,537, 14,399, 14,162.

Nifty 50

AdvancesDeclines
1040

In the Nifty 50, 10 stock traded in green and whereas only 40 were declined on 22nd February 2021.

Top 5 Nifty Gainer and Loser

Gainer%Loser%
Adani Ports3.11M&M-4.79
JSW Steel2.64DR. Reddys-4.53
Hindalco2.63Tech Mahindra-4.35
Tata Steel2.06ITC-4.12
ONGC1.14IndusInd Bank-4.03

The most active value-wise stocks were HDFC Bank, Reliance, SBI, Tata Steel, Tata Motors, and the volume-wise were Tata Motors, SBI, ITC, Hindalco, ONGC.

FII and DII trading activity on NSE, BSE, and MSEI on Capital Market Segment as on 22nd February 2021

FII (Cr.)DII (Cr.)
-893.25-919.88

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