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

On Friday, The market had a gap up 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 14,371.90, The Nifty bank index closed above and hold 31,167.25, and the Sensex settled above 48,878.54. The Nifty index lost around -218.45 points, The Nifty bank index lost around -1019.65 points and the Sensex lost -746.22 points in a single day.

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Today, the Nifty index opened at 14,583.40 went up to 14,619.90, and closed at 14,371.90, after making the low of 14,357.75, The Nifty Bank index opened at 32,088.00 and stayed volatile between the high of 32,131.40, to the low of 31,119.90, and closed at 32,167.25.

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 pares losses to settle marginally higher at 72.97 against USD.
  • JSW Steel posts a nearly 13-fold spike in Q3 profit at Rs 2,681 crore, revenue rises 21%.
  • HDFC Life Insurance Q3 net profit up 5%.
  • Indian Bank gets board approval to raise Rs 4,000 crore from the share sale.
  • IL&FS addresses Rs 32,000 crore debt.
  • SBI Life Insurance Q3 net down 40.2%.
  • Alembic Pharma share price gains on USFDA approval.
  • Caplin Point Labs gets USFDA nod for anticoagulant injection.
  • Adani Total Gas, Torrent Gas acquire a 5% stake each in IGX.

Trading zone for the Nifty index on 22nd January 2021

Upside Resistance:-  14,542, 14,712, 14,804.

Downside Support:-  14,280, 14,188, 14,018.

Nifty 50

AdvancesDeclines
0842

In the Nifty 50, 08 stock traded in green and whereas only 42 were declined on 22nd January 2021.

Top 5 Nifty Gainer and Loser

Gainer%Loser%
Bajaj Auto10.43Axis Bank-4.64
Hero Motocorp3.93JSW Steel-4.55
HUL1.76Asian Paints-4.41
Eicher Motors1.57Hindalco-3.90
TCS0.89SBI-3.78

The most active value-wise stocks were Tata Motors, Bajaj Auto, Reliance, Tata Steel, Bajaj Finance, and the volume-wise were Tata Motors, SBI, ONGC, GAIL, NTPC.

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

FII (Cr.)DII (Cr.)

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