Daily Analysis of Stock Market – NIFTY – 23rd July 2020

On Thursday the market opened in positive and remained in green for the whole session. The market was very much volatile today because of weekly expiry. At the end of the trading session, the market made a new day’s high. On the closing bell, the Nifty index closes above 11200, Niftybank index closed above and hold 23083.90 and the Sensex settled below 38150. The Nifty index gained around 82.85 points, Niftybank index gains around 201.30 points and the Sensex gained more than 250 points in a single day.


Today, the Nifty index opened at 11135 went up to 11239.80 and closed at 11215.45 after making the low of 11103.15. Niftybank index opened at 22854.85 and stayed volatile between 23122.35 to 22734.90 and closed at 23083.90

According to Nifty chart, ‘if the Nifty index breaks and sustains above 11237 then the rise will continue and it can go towards 11425, and if the market breaks and sustains below 11160 levels then it can go down to 11030 to 10970.



  • PNB Housing Finance Q1 net profit falls 10% to Rs 257 crore on lower disbursements.
  • NPCI launches RuPay’s commercial card.
  • Radico Khaitan Q1 net falls 19.52% to Rs 44.07 crore.
  • Silver futures touch Rs 62,000 per kg, may touch Rs 74,000/kg in a couple of quarters.
  • Rupee pares initial gains, settles flat at 74.75 against the US dollar.
  • Cadila Healthcare shares gain after Zydus gets USFDA nod for cancer drug trials.
  • Dilip Buildcon shares jump 8% on bagging Rs 4,167-crore order.
  • Vodafone Idea shares gain 2% after SC dismisses IT dept plea against a refund.

Trading zone for the Nifty index on 23rd July 2020

Upside Resistance:-  11269, 11323, 11406.

Downside Support:-  11132, 11049, 10996.

Nifty 50


In the Nifty 50, 39 stocks traded in green and whereas the only 11 were declined on 23rd July 2020.

Top 5 Nifty Gainer and Loser

Eicher Motors4.90Axis Bank-3.78
SBI3.26Shree Cements-1.87
ICICI Bank2.93HUL-1.65

The most active value-wise stocks were Reliance, Bajaj Finance, Axis Bank, BPCL, ICICI Bank, and the volume-wise were SBI, Zee Entertain, IOC, Axis Bank, ICICI Bank.

Important Results To Be Declared Tomorrow

  • JSW Steel
  • Ambuja Cement
  • Asian Paints 

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

FII (Cr.)DII (Cr.)