Daily Analysis of Stock Market – NIFTY – 24th March 2021

On Wednesday, The market had a gap down opening and remained in red for the whole sesssion. At the closing market closed in the red. The market was very much volatile today. The Nifty index closed at 14,549.40, The Nifty bank index closed above and hold 33,293.25, and the Sensex settled above 49,180.31. The Nifty index lost around -265.35 points, The Nifty bank index lost around -891.15 points, and the Sensex lost -871.13 points in a single day.

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Today, the Nifty index opened at 14,712.45 went up to 14,752.35, and closed at 14,549.40, after making the low of 14,535.00, The Nifty Bank index opened at 33,894.70 and stayed volatile between the high of 34,970.65, to the low of 33,203.40, and closed at 33,293.25.

According to the Nifty daily chart, Nifty broke and sustain below 14,750 levels, Now nifty can move towards 14,400 to 14,300 levels. Alternatively, If Nifty breaks and sustain above 14,750 levels, then it might retest 15,100 to 15,200 levels.

NEWS HIGHLIGHTS

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  • Adani Green Energy’s share price hits a 52-week high on the acquisition of solar projects.
  • Barbeque Nation IPO subscribed 92%, retail portion booked 5.05 times on day 1.
  • Glenmark Pharmaceuticals gets USFDA nod for generic antipsychotic drugs.
  • ICICI Bank introduces instant EMI facility on its internet banking platform.
  • Public App raises Rs 300 crore from A91 Partners, existing investors.
  • Rail Vikas Nigam shares fall 8% as government divests a 10% stake via OFS.
  • Rupee ends 13 paise lower at 72.56 per dollar.
  • Gold gains on lower US yield even as dollar holds firm.

Trading zone for the Nifty index on 24th March 2020

Upside Resistance:-  14,690, 14,830, 14,907.

Downside Support:-  14,472, 14,395, 14,255.

Nifty 50

AdvancesDeclines
0347

In the Nifty 50, 03 stock traded in green and whereas only 47 were declined on 24th March 2021.

Top 5 Nifty Gainer and Loser

Gainer%Loser%
Cipla2.17Tata Steel-5.17
Asian Paints1.38Adani Ports-4.29
Power Grid Corp0.94Tata Motors-4.21
Hindalco-4.21
M&M-3.94

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

FII and DII trading activity on NSE, BSE, and MSEI on Capital Market Segment as on 24th March 2021

FII (Cr.)DII (Cr.)
-1951.9612.8

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