Daily Analysis of Stock Market – NIFTY – 28th December 2020

On Monday, The market had a gap up opening and remained in green for the whole session. At the closing, the market closed in the green. The market was very much volatile today. The Nifty index closed at 13,873.20, The Nifty bank index closed above and hold 30,880.95, and the Sensex settled above 47,353.75. The Nifty index gained around 123.95 points, The Nifty bank index gained around 478.75 points, and the Sensex gained 380.21 points in a single day.

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Today, the Nifty index opened at 13,815.15 went up to 13,885.30, and closed at 13,873.20, after making the low of 13,811.55. Nifty Bank index opened at 30,558.85 and stayed volatile between the high of 30,929.05, to the low of 30,538.15, and closed at 30,880.95.

According to the Nifty daily chart, If Nifty break the bullish channel upside, Then it Can move towards 14,000 to 13,900 levels. Alternatively, If Nifty breaks the bullish channel down, then it might retest 13,500 to 13,400 levels.

NEWS HIGHLIGHTS

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  • Rupee settles 6 paise higher at 73.49 against US dollar.
  • TCS hits a 52-week high, market cap crosses Rs 11 lakh crore.
  • Sakthi Sugars shares up over 6% despite defaulting on debt repayment.
  • Paisalo Digital share price zooms 17%, to hits a 52-week high after SBI Life buys 38 lakh shares.
  • NIIT share price hits a new 52-week high after the board approves Rs 237-crore buyback plan.
  • DLF share price jumps 4% on plan to acquire JV company.
  • RIL share price rises as the company agreed to buy the remaining stake in IMG-Reliance JV.
  • Donald Trump signs a $900 billion COVID relief, government-funding measure.
  • PMC Bank scam: ED summons Shiv Sena MP Sanjay Raut’s wife for questioning on December 29.

Trading zone for the Nifty index on 28th December 2020

Upside Resistance:-  13,902, 13,930, 13,976.

Downside Support:-  13,828, 13,783, 13,754.

Nifty 50

AdvancesDeclines
446

In the Nifty 50, 44 stock traded in green and whereas only 6 were declined on 28th December 2020.

Top 5 Nifty Gainer and Loser

Gainer%Loser%
Tata Motors5.91Sun Pharma-0.59
JSW Steel5.56HUL-0.56
HDFC Life3.26Shree Cements-0.47
Titan3.19Britannia-0.41
SBI Life3.18Cipla-0.37

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

FII and DII trading activity on NSE, BSE, and MSEI on Capital Market Segment as on 28th December 2020

FII (Cr.)DII (Cr.)
1588.93-1386.55

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