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

On Thursday, The market had a gap up opening, later it slipped but closed in green. At the closing, the market closed in the green. The market was very much volatile today because of the monthly expiry. The Nifty index closed at 12,987.00, The Nifty bank index closed above and hold 29,549.75, and the Sensex settled above 44,259.74. The Nifty index gained around 128.60 points, The Nifty bank index gained around 353.35 points, and the Sensex gained 431.64 points in a single day.

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Today, the Nifty index opened at 12,906.45 went up to 13,018.00, and closed at 12,987.00, after making the low of 12,790.40. Nifty Bank index opened at 29,370.40 and stayed volatile between the high of 29,623.00, to the low of 28,923.10, and closed at 29,549.75.

According to the Nifty Daily chart, if Nifty breaks and sustain below 13,100 levels, Then it can go towards 13,400 to 13,600 levels. Alternatively, If Nifty doesn’t break and sustain above 13,100 levels, then it might retest 12,700 to 12,600 levels.

NEWS HIGHLIGHTS

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  • Rupee settles 3 paise higher at 73.88 against US dollar.
  • Tanla Platforms Hit New High After MIT, Vantage Equity Fund Buy Stakes
  • Muruguppa group’s Tube Investments to raise Rs 350 crore from Azim Premji Trust, SBI MF.
  • LVB – DBS Bank merger: Govt approves final scheme of amalgamation; no change in equity write-off clause.
  • Interglobe Aviation’s share price slips over 3% on Citi downgrade.
  • Meghmani Organics shares jump 4% on plans to set up a multipurpose plant in Dahej.
  • Struggling mortgage lender DHFL posts Rs 2,123 crore net loss in Q2.
  • Adani Green falls 3% even as the company releases a pledge of 3.35 crore shares.
  • Procter & Gamble fined Rs 241 crore for increasing prices to negate GST reduction.
  • Siemens share price rises 6% despite Jefferies’ underperform rating.

Trading zone for the Nifty index on 26th November 2020

Upside Resistance:-  13,073, 13,160, 13,301.

Downside Support:-  12,845, 12,704, 12,617.

Nifty 50

AdvancesDeclines
4010

In the Nifty 50, 8 stocks traded in green and whereas only 42 were declined on 26th November 2020.

Top 5 Nifty Gainer and Loser

Gainer%Loser%
JSW Steel6.19Eicher Motors-1.77
Tata Steel5.02BPCL-1.06
Grasim4.07Maruti Suzuki-0.87
Hindalco2.89ONGC-0.74
Shree Cements2.88HDFC Life-0.65

The most active value-wise stocks were Bajaj Finance, Reliance, Axis Bank, HDFC Bank, SBI and the volume-wise were SBI, Tata Motors, Axis Bank, NTPC, ONGC.

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

FII (Cr.)DII (Cr.)
2027.31-3400.1

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