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

On Monday, The market had a gap up opening, Later it slipped but closed in the green. At the closing, the market closed in the green. The market was very much volatile today. The Nifty index closed at 12,926.45, The Nifty bank index closed above and hold 29,024.20, and the Sensex settled above 44,077.15. The Nifty index gained around 67.40 points, The Nifty bank index lost around -211.80 points, and the Sensex gained 194.90 points in a single day.

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Today, the Nifty index opened at 12,960.30 went up to 12,968.85, and closed at 12,926.45, after making the low of 12,825.70. Nifty Bank index opened at 28,432.80 and stayed volatile between the high of 29,492.30 to the low of 28,852.90, and closed at 29,024.20.

According to the Nifty Daily chart, If Nifty break and sustain above 12,950 levels, Then it can go towards 13,000 to 13,200 levels Alternatively, If the Nifty doesn’t break and sustain above 12,950 levels, then it might retest 12,700 to 12,600 levels.

NEWS HIGHLIGHTS

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  • Raghuram Rajan says RBI group’s proposal to let corporates float banks is a ‘bombshell’, questions timing.
  • WhiteHat Jr files Rs 14 crore defamation suit against investor Aniruddha Malpani.
  • Unitholders’ nod to wind up MF schemes: Franklin Templeton moves SC against Karnataka High Court order.
  • Coal India to invest over $760 million over four years in solar to cut costs.
  • Max Estate to invest Rs 400 crore in a new commercial project in Noida.
  • Tata Group, Singapore Airlines infuse Rs 585 crore in Vistara: Report.
  • SREI Infra shares dip 13% on RBI special audit, Brickwork Ratings downgrade.
  • Apple’s second-largest manufacturer Pegatron approves $150 million for India facility: Report.
  • Strides Pharma gets USFDA nod for Prednisone; shares down nearly 3%.
  • Mindtree share price gains on agreement with Nordex Group.

Trading zone for the Nifty index on 23rd November 2020

Upside Resistance:-  12,988, 13,050, 13,131.

Downside Support:-  12,845, 12,764, 12,702.

Nifty 50

AdvancesDeclines
3614

In the Nifty 50, 36 stocks traded in green and whereas only 14 were declined on 23rd November 2020.

Top 5 Nifty Gainer and Loser

Gainer%Loser%
ONGC6.77HDFC-3.60
Induslnd Bank4.78ICICI Bank-2.49
GAIL3.54Axis Bank-2.02
Dr. Reddys Labs3.38SBI-1.67
Tech Mahindra3.37SBI Life Insurance-1.64

The most active value-wise stocks were Reliance, Bajaj Finance, Induslnd Bank, Bajaj Finserv, Kotak Mahindra and the volume-wise were SBI, Tata Motors, NTPC, ONGC, Induslnd Bank.

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

FII (Cr.)DII (Cr.)
4738.44-2944.05

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