On Wednesday the market had a gap down opening later recovered but it was not able to hold and came back in red. In the afternoon we saw longs covering in the market and the market made a new low of the day. The market was very much volatile today. On the closing bell, the Nifty index closes at 11202.85, Niftybank index closed above and hold 22050 and the Sensex settled below 38100. The Nifty index lost around –97.70 points, Niftybank index lost around -28.60 points and the Sensex lost more than –400 points in a single day.

Today, the Nifty index opened at 11276.90 went up to 11341.40, and closed at 11202.85 after making the low of 11149.75. Nifty Bank index opened at 22075 and stayed volatile between the high of  22346 to the low of 21906.35 and closed at 22076.60

According to Nifty 4 Hourly chart, Nifty index has returned from its resistance level of 11375 and now it may fall further till its support level of 11085 if nifty breaks and sustain above 11400 levels then rise will continue and it can go towards 11500 levels, and if the market breaks and sustains below 11085 levels with high volume then it can go down 11020 to 10960 in upcoming sessions

NEWS HIGHLIGHTS

  • European Union executive signs remdesivir deal with Gilead.
  • IRB Infra preferred bidder for Rs 1,755 crore Vadodara-Mumbai Expressway stretch.
  • Crude palm oil futures up 1.34% in afternoon trade.
  • SpiceJet reports Q4 net loss of Rs 816.2 crore; revenue grows 13% YoY.
  • Sunteck Realty Consolidated June 2020 Net Sales at Rs 60.72 crore, down 65.22% Y-o-Y.
  • Crude futures gain 0.84% on weak dollar, Brent trades above $44 a barrel.
  • IDFC First Bank Standalone June 2020 Net Interest Income (NII) at Rs 1,625.90 crore, up 38.44% Y-o-Y.
  • Max Ventures Standalone June 2020 Net Sales at Rs 9.69 crore, up 27.84% Y-o-Y.
  • Maruti Suzuki posts Q1 loss of Rs 249.4 crore, revenue plunges 79% due to lockdown
  • Tata Coffee share price up 12% on impressive Q1 numbers

Trading zone for the Nifty index on 29th July 2020

Upside Resistance:-  11313, 11423, 11505.

Downside Support:-  11121, 11040, 10930.

Nifty 50

AdvancesDeclines
2228

In the Nifty 50, 22 stocks traded in green and whereas the only 28 were declined on 29th July 2020.

Top 5 Nifty Gainer and Loser

Gainer%Loser%
Dr. Reddys Lab6.19Reliance-3.72
Induslnd Bank4.47Nestle-2.91
Tata Steel4.25HCL Tech-2.53
Grasim3.36M&M-2.50
Bharti Infratel3.15Hero Motocorp-2.16

The most active value-wise stocks were Reliance, Bajaj Finance, Dr. Reddys Lab, Induslnd Bank, HDFC Bank, and the volume-wise were SBI, ICICI Bank, Tata Motors, Induslnd Bank, Reliance.

Important Results To Be Declared Tomorrow

  • Dabur India
  • Ajanta Pharma
  • JM Financial
  • Torrent Pharma
  • Piramal Enterprises
  • Reliance Industries
  • HDFC
  • Max Financial
  • Tata Communication
  • Laurus Labs
  • Chola Invest & Fin

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

FII (Cr.)DII (Cr.)
-352.62-505.62