Daily Analysis of Stock Market – NIFTY – 23nd September 2020

On Wednesday market had a gap up opening, later it slipped in red. At the closing, the market closed in the red. The market was very much volatile today, On the closing bell, the Nifty index closed at 11131.85, The Nifty bank index closed above and hold 21178.50, and the Sensex settled above 37668.42. The Nifty index lost around -21.80 points, The Nifty bank index gained around 39.40 points and the Sensex lost -65.66 points in a single day.


Today, the Nifty index opened at 11258.75 went up to 11259.55, and closed at 11131.85, after making the low of 11024.40. Nifty Bank index opened at 21350.80 and stayed volatile between the high of  21365.05 to the low of 20821, and closed at 21139.10.

According to the Nifty Daily chart, If Nifty broke its support level of 11150, Now Nifty can go towards 10900 to 10800 levels Alternatively, If the Nifty breaks and sustain above 11150 levels, then it might retest 11500 to 11600 levels.


  • Zomato says the food delivery business has recovered to almost 85% of pre-COVID levels.
  • UTI AMC IPO will open on 29th September 2020, check UTI AMC IPO GMP here
  • Silver futures slide 3.37% to Rs 59,150 per kg, down over 14% in the last five sessions.
  • Telecom stocks tumble after Jio launches new post-paid plans; Airtel, Vodafone Idea falls 7-8%.
  • Manali Petro share price up 3% on plans to expand capacity.
  • UTI AMC to launch Rs 3,000 crore-IPO on September 29; SBI, LIC, T Rowe to divest stake.
  • HCC share price hits the upper circuit on the sale of Farakka Raiganj Highways.
  • Majesco hits 52-week high as UNIFI Wealth Management buys 2 lakh shares in a bulk deal.
  • The rupee ends flat at 73.57 per dollar.
  • Sun Pharma share price rises 2% on the launch of ILUMYA in Japan.

Trading zone for the Nifty index on 23rd September 2020

Upside Resistance:-  11253, 11374, 11488.

Downside Support:-  11018, 10903, 10783.

Nifty 50


In the Nifty 50, 20 stocks traded in green and whereas only 30 were declined on 23rd September 2020.

Top 5 Nifty Gainer and Loser

Axis Bank1.88Bharti Airtel-7.89
GAIL1.84Bharti Infratel-7.46
HUL1.27Tata Steel-3.43
Coal India1.25NTPC-2.96
Hindalco1.22Induslnd Bank-2.93

The most active value-wise stocks were Reliance, Bharti Airtel, Dr. Reddys Labs, TCS, HCL Tech, and the volume-wise were Bharti Airtel, Tata Motors, Zee Entertain, ITC, SBI.

FII and DII trading activity on NSE, BSE, and MSEI on Capital Market Segment as on 23rd September 2020

FII (Cr.)DII (Cr.)