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

Daily-Analysis-of-Nifty

On Thursday, The market had a gap up opening, Later it slipped in red. At the closing, the market closed in the red. The market was very much volatile today, the Nifty index closed at 11,729.60, The Nifty bank index closed above and hold 24,232.50, and the Sensex settled above 39,922.46. The Nifty index lost around -159.80 points, The Nifty bank index lost around -537.00 points, and the Sensex lost 599.64 points in a single day.

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Today, the Nifty index opened at 11,922.60 went up to 11,929.40, and closed at 11,729.60, after making the low of 11,684.85. Nifty Bank index opened at 24,737.85 and stayed volatile between the high of  24,780.70 to the low of 24,057.95, and closed at 24,232.50.

Daily Analysis of Stock Market – NIFTY – 29th October 2020 1

According to the Nifty Daily chart, Today the Nifty broke and sustained below 11,680 levels, Now Nifty can go towards 11,300 to 11,200 levels Alternatively, If the Nifty breaks and sustain above 11,680 levels, then it might retest 11,800 to 11,900 levels.

NEWS HIGHLIGHTS

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  • Rupee slumps 23 paise, settles below 74/USD level.
  • IndiGo Q2 loss widens to Rs 1,194.8 crore on YoY basis but beats estimates.
  • Bank of Baroda Q2 profit more than doubles to Rs 1,679 crore as provisions drop.
  • Strides Pharma Science Q2 profit falls 46% to Rs 77 crore.
  • Arvind reports a Q2 net loss of Rs 5.86 crore.
  • RBI cancels the certificate of registration of seven NBFCs.
  • Maruti Suzuki Q2 profit rises 1% to Rs 1,372 crore; misses estimates.
  • BPCL Q2 standalone net profit jumps 32% YoY, beats street estimates.
  • Titan reports Q2 standalone profit at Rs 199 crore, meets expectations on revenue, profit front.

Trading zone for the Nifty index on 29th October 2020

Upside Resistance:-  11,741, 11,812, 11,879.

Downside Support:-  11,603, 11,536, 11,466.

Nifty 50

AdvancesDeclines
1436

In the Nifty 50, 14 stocks traded in green and whereas only 36 were declined on 29th October 2020.

Top 5 Nifty Gainer and Loser

Gainer%Loser%
Asian Paints3.05L&T-4.92
Ultratech Cement2.41Titan Company-3.19
Shree Cement1.48Adani Ports-3.10
Kotak Mahindra1.26ONGC-2.94
HCL Tech1.26Tata Motors-2.15

The most active value-wise stocks were Reliance, Axis Bank, HDFC Bank, ICICI Bank, Bajaj Finance, and the volume-wise were Tata Motors, Axis Bank, SBI, NTPC, ICICI Bank.

Results To Be Declared Tomorrow
Indulnd Bank
Jindal Steel And Power
Deepak Nitrite
Reliance Industries
Max Financial
Indian Oil
UPL
Dixon Technologies
Suven Pharma

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

FII (Cr.)DII (Cr.)
-420.95-253.41