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

Daily-Analysis-of-Nifty

On Monday, The market had a gap flat opening, Later it slipped in red. At the closing, the market closed in the red. The market was very much volatile today, the Nifty index closed at 11,767.75, The Nifty bank index closed above and hold 24,075.45, and the Sensex settled above 40,145.50. The Nifty index lost around -162.60 points, The Nifty bank index lost around -402.85 points, and the Sensex lost -540 points in a single day.

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Today, the Nifty index opened at 11,937.40 went up to 11,942.85, and closed at 11,767.75, after making the low of 11,711.70. Nifty Bank index opened at 24,525.80 and stayed volatile between the high of  24,577.30 to the low of 23,867.75, and closed at 24,075.45.

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

According to the Nifty Daily chart, If the Nifty breaks and sustain above 12,025 levels, Then Nifty can go towards 12,100 to 12,200 levels Alternatively, If the Nifty breaks and sustain below 11680 levels, then it might retest 11600 to 11500 levels.

NEWS HIGHLIGHTS

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  • Fiat, PSA to win EU approval for $38 billion mergers: Sources.
  • Silver futures plunge 1.42% to Rs 61,536 per kg; support seen at Rs 60,500.
  • Rs 3,600 crore recovered from Vijay Mallya, SBI-led consortium of banks tells Supreme Court.
  • Rupee settles 23 paise lower at 73.84 against the US dollar.
  • Central Depository Services Q2 PAT surges 68% to Rs 48.87 crore.
  • Alembic Pharmaceuticals gets USFDA nod for elevated intraocular pressure drug.
  • Persistent Systems Q2 net up 18.5% to Rs 101.9 crore.
  • Muthoot Finance to raise Rs 2,000 crore through secured NCDs; shares trade in the red.
  • Kotak Mahindra Bank Q2 profit jumps 27% to Rs 2,184 crore as provisions dip.

Trading zone for the Nifty index on 26th October 2020

Upside Resistance:-  11,903, 12,039, 12,134.

Downside Support:-  11,672, 11,576, 11,441.

Nifty 50

AdvancesDeclines
1139

In the Nifty 50, 11 stocks traded in green and whereas only 39 were declined on 26th October 2020.

Top 5 Nifty Gainer and Loser

Gainer%Loser%
HDFC Life2.51Hero Motocorp-6.85
Nestle2.48Bajaj Auto-6.07
Kotak Mahindra Bank2.45Hindalco-5.40
Induslnd Bank1.40M&M-4.48
Power Grid Corp1.12JSW Steel-4.03

The most active value-wise stocks were Reliance, Hero Motocorp, HDFC Bank, Tata Motors, Bajaj Finance, and the volume-wise were Tata Motors, SBI, NTPC, ICICI Bank, Power Grid Corp.

Results To Be Declared Tomorrow
Castrol India
JM Financial
Bharti Airtel
Sanofi India
TV18 Broadcast
Amara Raja Batteries
Tata Motors
ICICI Prudential
Nippon Life AMC

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

FII (Cr.)DII (Cr.)
-119.42-979.16