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

On Monday, The market had a gap down opening, Later It recovered. At the closing market closed in the red. The market was very much volatile today. The Nifty index closed at 14,736.40, The Nifty bank index closed above and hold 33,603.45, and the Sensex settled above 49,771.29. The Nifty index lost around -7.60 points, The Nifty bank index lost around -558.15 points, and the Sensex lost -86.95 points in a single day.

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Today, the Nifty index opened at 14,736.30 went up to 14,763.90, and closed at 14,736.40, after making the low of 14,597.85, The Nifty Bank index opened at 34,088.40 and stayed volatile between the high of 34,148.90, to the low of 33,389.15, and closed at 33,603.45.

According to the Nifty daily chart, Nifty broke and sustain below 14,750 levels, Now nifty can move towards 14,200 to 14,100 levels. Alternatively, If Nifty breaks and sustain above 14,750 levels, then it might retest 15,400 to 15,500 levels.

NEWS HIGHLIGHTS

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  • BHEL secures the first-ever overseas solar project.
  • Lok Sabha passes Insurance Amendment Bill 2021, FDI raised to 74%.
  • Mobikwik plans IPO before September 2021 to raise $200-250 million.
  • Mindtree inks deal with Knauf to step up IT transformation.
  • Piramal Capital and Housing Finance raise Rs 4,050 crore through NCDs.
  • BASF India share price falls on tax notice from Karnataka.
  • Govt introduces NaBFID Bill in Lok Sabha.
  • RailTel Corporation shares price gains 8% on bagging Rs 153-crore order.
  • Bharat Dynamics’ share price jumps 4% on signing a Rs 1,188-crore defense contract.
  • Adani Green Energy shares hit a 52-week high on receiving a 300 MW wind power project order.

Trading zone for the Nifty index on 22nd March 2020

Upside Resistance:-  14,800, 14,865, 14,966.

Downside Support:-  14,635, 14,534, 14,470.

Nifty 50

AdvancesDeclines
2921

In the Nifty 50, 29 stock traded in green and whereas only 21 were declined on 22nd March 2021.

Top 5 Nifty Gainer and Loser

Gainer%Loser%
Adani Ports5.19IndusInd Bank-4.32
Britannia2.82Power Grid Corp-2.89
TCS2.60ICICI Bank-2.25
Tech Mahindra2.44Tata Motors-1.91
Sun Pharma2.20HDFC Bank-1.89

The most active value-wise stocks were Reliance, Tata Motors, Adani Ports, ICICI Bank, IndusInd Bank, and the volume-wise were Tata Motors, ITC, NTPC, SBI, Adani Ports.

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

FII (Cr.)DII (Cr.)
-786.98542.7

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