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

Daily-Analysis-of-Nifty

On Wednesday, The market had a gap down opening, Later it recovered. At the closing, the market closed in the red. The market was very much volatile today because of monthly expiry, the Nifty index closed at 11,670.80, The Nifty bank index closed above and hold 24,092.00, and the Sensex settled above 39,749.85. The Nifty index lost around -58.80 points, The Nifty bank index lost around -140.50 points, and the Sensex lost –172.61points in a single day.

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Today, the Nifty index opened at 11,633.30 went up to 11,744.15, and closed at 11,670.80, after making the low of 11,606.45. Nifty Bank index opened at 24,063.50 and stayed volatile between the high of  24,339.10 to the low of 23,822.05, and closed at 24,092.00.

Daily Analysis of Stock Market – NIFTY – 28th 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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  • RBI allows Maple Group to acquire up to 9.99% in RBL Bank.
  • Silver futures down marginally to Rs 61,860 per kg on the firm dollar.
  • Ceat Q2 net profit surges four-fold to Rs 182 crore.
  • RBL Bank’s net profit more than doubles to Rs 144.2 crore in Q2; NII grows 7.3% YoY.
  • Firstsource Q2 net profit surges 56% to Rs 105.2 crore.
  • Rupee settles 16 paise lower at 73.87 against the US dollar.
  • Delta Corp share price rises 11% as Goa to reopen casinos from November 1.
  • Dr. Reddy’s Labs share price trades lower after Q2 profit dips 30% YoY.
  • Titan reports Q2 standalone profit at Rs 199 crore, meets expectations on revenue, profit front.

Trading zone for the Nifty index on 28th October 2020

Upside Resistance:-  11,878, 12,026, 12,122.

Downside Support:-  11,633, 11,537, 11,389.

Nifty 50

AdvancesDeclines
842

In the Nifty 50, 8 stocks traded in green and whereas only 42 were declined on 28th October 2020.

Top 5 Nifty Gainer and Loser

Gainer%Loser%
Bharti Airtel4.27HDFC-3.55
UPL2.78IndusInd Bank-3.44
Hero Motocorp1.18ICICI Bank-3.39
M&M1.17Adani Ports-2.95
Eicher Motors0.79Tech Mahindra-2.94

The most active value-wise stocks were Bharti Airtel, Reliance, Tata Motors, Dr. Reddys Labs, Hero Motocorp, and the volume-wise were Tata Motors, Bharti Airtel, SBI, NTPC, Axis Bank.

Results To Be Declared Tomorrow
BPCL
Laurus Labs
Maruti Suzuki
Canara Bank
Bank Of Baroda
TVS Motor
Strides Pharma
INDIGO
Shriram Trans. Fin
Havells India
Tata Chemicals
Vodafone Idea

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

FII (Cr.)DII (Cr.)
-1130.981.48