Daily Analysis of Stock Market – NIFTY – 24nd September 2020

Daily-Analysis-of-Nifty

On Thursday market had a gap down opening and remained in red for the whole session. At the closing, the market closed in the red. The market was very much volatile today because of weekly and monthly expiry, On the closing bell, the Nifty index closed at 10805.55, The Nifty bank index closed above and hold 20456.85, and the Sensex settled above 36553.60. The Nifty index lost around -326.30 points, The Nifty bank index lost around -721.65 points and the Sensex lost -1114.82 points in a single day.

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Today, the Nifty index opened at 11011 went up to 11015.30, and closed at 10805.55, after making the low of 10790.20. Nifty Bank index opened at 20898.80 and stayed volatile between the high of  20955.60 to the low of 20404.90, and closed at 20456.85.

Daily Analysis of Stock Market – NIFTY – 24nd September 2020 1

According to the Nifty Daily chart, If Nifty broke its strong support of 10900, Now Nifty can move towards 10700 to 10900 levels Alternatively, If the Nifty breaks and sustain above 10900levels, then it might retest 11100 to 11150 levels.

NEWS HIGHLIGHTS

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  • Vodafone Idea, Airtel lose over 59 lakh, mobile users, in June; Reliance Jio adds 45 lakh: Trai data.
  • JPMorgan set to pay nearly $1 billion in spoofing penalty.
  • Silver futures slide 3.08% to Rs 56,686 per kg on weak global cues.
  • Indian rupee slips 32 paise to 73.89 against the US dollar.
  • Power Grid gets shareholders’ nod to raise up to Rs 10,000 crore.
  • Panacea Biotech shares hit 5% upper circuit after dengue vaccine completes phase I & II study.
  • UTI AMC sets IPO price band at Rs 552-554.
  • IDFC First Bank to launch a contactless debit card transaction facility next week.

Trading zone for the Nifty index on 24th September 2020

Upside Resistance:-  10951, 11095, 11176.

Downside Support:-  10725, 10645, 10500.

Nifty 50

AdvancesDeclines
149

In the Nifty 50, 1 stock traded in green and whereas only 49 were declined on 24th September 2020.

Top 5 Nifty Gainer and Loser

Gainer%Loser%
HUL0.41Induslnd Bank-7.16
Bajaj Finance-6.63
Tata Motors-6.54
M&M-6.12
TCS5.48

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

FII and DII trading activity on NSE, BSE, and MSEI on Capital Market Segment as on 24th September 2020

FII (Cr.)DII (Cr.)
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