Daily Analysis of Stock Market – NIFTY – 29th December 2020

On Tuesday, The market had a gap up opening, Later It slipped in red but at the closing, the market closed in the green. The market was very much volatile today. The Nifty index closed at 13,932.60, The Nifty bank index closed above and hold 31,322.50, and the Sensex settled above 47,613.08. The Nifty index gained around 59.40 points, The Nifty bank index gained around 441.55 points, and the Sensex gained 259.33 points in a single day.

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Today, the Nifty index opened at 13,910.35 went up to 13,967.60, and closed at 13,932.60, after making the low of 13,859.90. Nifty Bank index opened at 31,006.90 and stayed volatile between the high of 31,359.35, to the low of 31,002.60, and closed at 31,322.50.

According to the Nifty daily chart, If Nifty break the bullish channel upside, Then it Can move towards 14,000 to 14,100 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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  • Amazon invests Rs 11,400 crore in India in FY20.
  • HDFC Bank proposes Atanu Chakraborty as the next part-time chairperson.
  • Vedanta Resources to issue $400 million Notes to Oaktree Capital Group to meet liquidity needs.
  • 3i Infotech share price jumps 4% on the sale of its software biz.
  • Lenders extend ICA for Reliance Home Finance resolution till March 31.
  • Ahluwalia Contracts bags construction orders worth Rs 310 crore.
  • Vedanta’s promoter creates a pledge on entire equity, shares fall over 2%.
  • ICICI Bank acquires a 9.09% stake in the ed-tech platform Myclassboard Educational Solutions.
  • Shriram Transport Finance plans to raise funds via debt securities.

Trading zone for the Nifty index on 29th December 2020

Upside Resistance:-  14,088, 14,028, 13,980.

Downside Support:-  13,872, 13,812, 13,764.

Nifty 50

AdvancesDeclines
2327

In the Nifty 50, 23 stock traded in green and whereas only 27 were declined on 29th December 2020.

Top 5 Nifty Gainer and Loser

Gainer%Loser%
IndusInd Bank5.30Coal India-1.85
Axis Bank2.03NTPC-1.84
Tech Mahindra1.96Nestle-1.80
HDFC1.72Hindalco-1.79
ICICI Bank1.67Tata Motors-1.56

The most active value-wise stocks were IndusInd Bank, Reliance, Tata Motors, SBI, HDFC Bank, and the volume-wise were Tata Motors, SBI, ITC, NTPC, Coal India.

FII and DII trading activity on NSE, BSE, and MSEI on Capital Market Segment as on 29th December 2020

FII (Cr.)DII (Cr.)
2349.53-2010.5

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