On Wednesday the market opened in gap up later slipped and in the last hour, it covered but closed in red. The market was very much volatile today and traded in a particular range till 1 PM. In the last two hours market made new day’s low. On the closing bell, the Nifty index closes above 11100, Niftybank index closed above and hold 22850 and the Sensex settled below 37900. The Nifty index lost around 29.65 points, Niftybank index gains around 100.60 points and the Sensex lost more than 50 points in a single day.
Today, the Nifty index opened at 11231.20 went up to 11238.10 and closed at 11132.60 after making the low of 11056.55. Niftybank index opened at 23159 and stayed volatile between 23211.35 to 22658.20 and closed at 22882.60
As per the above chart, ‘if the Nifty index breaks and sustains above 11180 then the rise will continue and it can go towards 11415 and if the market breaks and sustains below 11090 levels then it can go down to 11021 to 10960 in upcoming days.
NEWS HIGHLIGHTS
- Network18 Media Q1 loss narrows to Rs 61 crore, digital subscriptions accelerate.
- Indian rupee settles flat at 74.75 against the US dollar.
- Bajaj Auto Q1 profit plunges 53%, revenue falls 60% but operating performance beats estimates.
- Alembic Pharma Q1 profit jumps over 2-folds to Rs 301.46 crore.
- Crude oil futures slumped 0.61% on rising in US crude stock, Brent slips below $44 a barrel.
- Jindal Steel and Power returns to black; posts Rs 267.58 crore net profit in June quarter.
- India gold prices hit an all-time high, dampens retail demand.
Trading zone for the Nifty index on 22nd July 2020
Upside Resistance:- 11228.28, 11323.96 , 11409.83.
Downside Support:- 11046.73, 10960.86, 10865.18.
Nifty 50
| Advances | Declines |
| 16 | 34 |
In the Nifty 50, 16 stocks traded in green and whereas the only 34 were declined on 22nd July 2020.
Top 5 Nifty Gainer and Loser
| Gainer | % | Loser | % |
| Axis Bank | 7.34 | Hero Motocorp | -3.53 |
| Titan Company | 4.19 | Tata Motors | -3.04 |
| Power Grid Corp | 3.46 | HUL | -3.00 |
| NTPC | 2.26 | BPCL | -2.93 |
| ITC | 2.24 | Tata Steel | -2.53 |
The most active value-wise stocks were Bajaj Finance, Reliance, Axis Bank, ICICI Bank, HUL and the volume-wise were Axis Bank, SBI, Tata Motors, Vedanta, ICICI Bank.
Important Results To Be Declared Tomorrow
- Biocon
- Sterlite Tech
- AU Small Fin Bank
- HDFC AMC
FII and DII trading activity on NSE, BSE and MSEI on Capital Market Segment as on 22nd July 2020
| FII (Cr.) | DII (Cr.) |
| 1665.57 | -1138.83 |
