Home Daily Analysis Daily Analysis of Stock Market – NIFTY – 26th August 2020

Daily Analysis of Stock Market – NIFTY – 26th August 2020

by GSI Team
Daily-Analysis-of-Nifty

On Wednesday the market had a gap up opening, Later it slipped. The market traded in a range for the whole session. At the closing market made a new high of the day and closed in the green. The market was very much volatile today. On the closing bell, the Nifty index closes at 11549.60, Niftybank index closed above and hold 23414.20, and the Sensex settled above 39073.92. The Nifty index gained around 77.35points, Niftybank index gained around 322.05points and the Sensex gained 230.04 points in a single day.

Today, the Nifty index opened at 11512.85 went up to 11561.75, and closed at 11549.60, after making the low of 11461.85. Nifty Bank index opened at 23175.55 and stayed volatile between the high of  23453.40 to the low of 23093.15, and closed at 23414.20.

Daily Analysis of Stock Market – NIFTY – 26th August 2020 1

According to the Nifty Daily chart, If Nifty able to sustain above its Support level of 11450, Then Nifty will go toward 11600 to 11700, Alternatively, If the Nifty breaks and sustain below 11450 levels, then it might retest the level of 11300.

NEWS HIGHLIGHTS

  • Indian rupee settles 3 paise higher at 74.30 against the US dollar.
  • RBI rejects a resolution plan to sell Aircel’s assets to UVARC: Report.
  • Uber launches auto rentals in India.
  • Affle India shares hit upper circuit on contract from Singapore govt.
  • JMC Projects shares rally 11% on new orders worth Rs 554 crore.
  • Bata plans to add 100 stores in FY’21 amid the COVID-19 outbreak.
  • Punjab National Bank share price gains on receiving $3.2 million in the first tranche of recoveries.

Trading zone for the Nifty index on 26th august 2020

Upside Resistance:-  11587, 11624, 11687.

Downside Support:-  11487, 11425, 11387.

Nifty 50

AdvancesDeclines
3218

In the Nifty 50, 32 stocks traded in green and whereas the only 18 were declined on 26th August 2020.

Top 5 Nifty Gainer and Loser

Gainer%Loser%
Tata Motors8.50Bharti Airtel-2.68
Hero Motocorp6.43Ultratech Cement-2.22
Induslnd Bank5.81Britannia-1.73
Zee Entertain5.78Asian Paints-1.46
Reliance2.65Maruti Suzuki-1.42

The most active value-wise stocks were Reliance, Tata Motors, Bajaj Finance, Induslnd Bank, Hero Motocorp, and the volume-wise were Tata Motors, Zee Entertain, SBI, ICICI Bank, NTPC.

Important Results To Be Declared Tomorrow

  • GMR Infrastructure
  • Edelweiss Financial
  • Avanti Feeds
  • NMDC

FII and DII trading activity on NSE, BSE and MSEI on Capital Market Segment as on 26th August 2020

FII (Cr.)DII (Cr.)
1581.31-1194.62

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