Daily Analysis of Stock Market – NIFTY – 23rd March 2021

On Tuesday, The market had a gap up opening, Later It slipped. At the closing market closed in the green. The market was very much volatile today. The Nifty index closed at 14,814.75, The Nifty bank index closed above and hold 34,184.40, and the Sensex settled above 51,051.44. The Nifty index gained around 78.35 points, The Nifty bank index gained around 580.95 points, and the Sensex gained 280.15 points in a single day.

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Today, the Nifty index opened at 14,768.55 went up to 14,878.60, and closed at 14,814.75, after making the low of 14,707.00, The Nifty Bank index opened at 33,747.95 and stayed volatile between the high of 34,360.05, to the low of 33,622.00, and closed at 34,184.40.

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

NEWS HIGHLIGHTS

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  • Silver prices down marginally to Rs 65,984 per kg on weak economic data, strong dollar.
  • Glenmark gets a $40 million COVID credit line from International Finance Corporation.
  • Abu Dhabi funds invest $150 million in messaging app Telegram.
  • Adani Port to acquire a 58.1% stake of Gangavaram Port, shares rise 5%.
  • Allana Group picks up a minority stake in LT Foods.
  • Insecticides India’s shares price spikes 7% as share buyback on the cards.
  • Adani Enterprises shares jump 10%, hit a 52-week high.
  • Rupee opens 4 paise lower at 72.41 per dollar.

Trading zone for the Nifty index on 23rd March 2020

Upside Resistance:-  14,893, 14,972, 15,065.

Downside Support:-  14,722, 14,629, 14,550.

Nifty 50

AdvancesDeclines
2822

In the Nifty 50, 28 stock traded in green and whereas only 22 were declined on 23rd March 2021.

Top 5 Nifty Gainer and Loser

Gainer%Loser%
Shree Cements5.04IOC-2.42
UltraTech Cement3.14Hindalco-2.37
Divis Labs2.64ONGC-2.24
Titan2.40Power Grid Corp-2.04
Adani Ports2.31GAIL-1.75

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

FII and DII trading activity on NSE, BSE, and MSEI on Capital Market Segment as on 23rd March 2021

FII (Cr.)DII (Cr.)
-108.24-529.69

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