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

Daily-Analysis-of-Nifty

On Thursday, The market had a gap down opening, Later it recovered and traded in a particular range for the whole session. At the closing, the market closed in the red. The market was very much volatile today because of weekly expiry, the Nifty index closed at 11,896.45, The Nifty bank index closed above and hold 24,484.15, and the Sensex settled above 40,558.49. The Nifty index lost around -41.20 points, The Nifty bank index lost around -150.90 points, and the Sensex lost -148.82points in a single day.

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Today, the Nifty index opened at 11,890.00 went up to 11,939.55, and closed at 11,896.45, after making the low of 11,823.45. Nifty Bank index opened at 24,447.35 and stayed volatile between the high of  24,691.15 to the low of 24,250.20, and closed at 24,484.15.

Daily Analysis of Stock Market – NIFTY – 22nd October 2020 1

According to the Nifty Daily chart, If the Nifty breaks and sustain above 12,025 levels, Then Nifty can go towards 12,100 to 12,200 levels Alternatively, If the Nifty breaks and sustain below 11780 levels, then it might retest 11600 to 11500 levels.

NEWS HIGHLIGHTS

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  • Silver futures fall 1.11% to Rs 62,919 per kg on a firm dollar.
  • Rupee settles 4 paise higher at 73.54 against the US dollar.
  • Deutsche Bank in talks to sell IT unit as it trims staff, TCS in the fray.
  • Bajaj Auto Q2 profit falls 19% to Rs 1,138 crore but sees a strong turnaround in domestic 2Ws.
  • Dr. Reddy’s Labs shares trade lower as data breach forces the company to shut plants.
  • World’s richest steel magnate LN Mittal’s brother Pramod Mittal is now bankrupt.
  • SEBI cracks a joke by imposing a Rs 6 crore fine on NSE.

Trading zone for the Nifty index on 22nd October 2020

Upside Resistance:-  11,950, 12,003, 12,066.

Downside Support:-  11,833, 11,770, 11,717.

Nifty 50

AdvancesDeclines
2129

In the Nifty 50, 21 stocks traded in green and whereas only 29 were declined on 22nd October 2020.

Top 5 Nifty Gainer and Loser

Gainer%Loser%
NTPC2.86IndusInd Bank-3.08
Bharti Airtel2.78Hero Motocorp-3.05
Bajaj Finance2.52ICICI Bank-1.76
Tata Motors2.50Infosys-1.68
IOC2.24Cipla-1.25

The most active value-wise stocks were Reliance, Dr. Reddys Labs, Bajaj Finance, Axis Bank, TCS, and the volume-wise were Tata Motors, NTPC, SBI, ICICI Bank, Axis Bank.

Results To Be Declared Tomorrow
Nestle India
Atul
IDBI Bank
Aarti Drug
Yes Bank
JSW Steel
ICICI Lombard GIC

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

FII (Cr.)DII (Cr.)
1118.46-2019.87