Daily Analysis

Daily Analysis of Stock Market – NIFTY – 27th July 2020

On Monday the market had a gap up opening but it was unable to hold at the upper level and came down to make a new low of the day, the market traded in a particular range and finally closed in the red. The market was very much volatile today. On the closing bell, the Nifty index closes above 11100, Niftybank index closed above and hold 21400 and the Sensex settled below 38000. The Nifty index lost around -62.35 points, Niftybank index lost around -813.30 points and the Sensex lost more than -194.17 points in a single day.

Today, the Nifty index opened at 11225 and the high was also the same as open level but closed at 11131.80 after making the low of 11087.85. Nifty Bank index opened at 22664.60 and stayed volatile between the high of  22668.05 to the low of 21801.35 and closed at 21848.75

According to Nifty 15 minutes chart, if the Nifty index breaks and sustains above 11235 with high volume then the rise will continue and it can go towards 11420, and if the market breaks and sustains below 11060 levels with high volume then it can go down 10930 to 10829 in upcoming days

NEWS HIGHLIGHTS

  • India Ratings downgrades GoAir to BBB+ on operating performance worries.
  • CIL’s coal allocation to power sector under e-auction drops 29% in Q1.
  • Marico Q1 beats estimates, profit jumps 23% to Rs 388 crore.
  • Construction equipment sales volume decline 70% in April-June: CRISIL.
  • Brokerage stocks fall up to 9% on DMA buzz.
  • Escorts Q1 net profit rises nearly 6% YoY; tractor sales fall 14%.
  • Rupee pares initial gains, settles unchanged at 74.83 against USD.
  • Kotak Mahindra Bank Q1 profit falls 8.5%, NII grows 18% but asset quality weakens.
  • Biocon share price falls 3% after Health Ministry gives a pass to its COVID-19 drug.
  • India’s crude steel production at 6.8 MT in June: Steel Ministry

Trading zone for the Nifty index on 27th July 2020

Upside Resistance:-  11209, 11285, 11346.

Downside Support:-  11071, 11011, 10934.

Nifty 50

AdvancesDeclines
1931

In the Nifty 50, 19 stocks traded in green and whereas the only 31 were declined on 27th July 2020.

Top 5 Nifty Gainer and Loser

Gainer%Loser%
Asian Paints3.86ICICI Bank-6.10
HCL Tech3.11Zee Entertain-4.15
Infosys2.77HDFC Bank-3.54
TCS2.29Axis Bank-3.15
BPCL2.07Induslnd bank-2.99

The most active value-wise stocks were Reliance, ICICI Bank, Bajaj Finance, HDFC Bank, Infosys and the volume-wise were ICICI Bank, SBI, Zee Entertain, IOC, Reliance.

Important Results To Be Declared Tomorrow

  • Castrol India
  • NIIT Technologies
  • Nestle India
  • Hexaware Tech
  • IDBI Bank
  • RBL Bank
  • IDFC First Bank
  • Sanofi India

FII and DII trading activity on NSE, BSE and MSEI on Capital Market Segment as on 27th July 2020

FII (Cr.)DII (Cr.)
-453.31-977.88

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