Daily Analysis

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

Daily-Analysis-of-Nifty

On Tuesday 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, On the closing bell, the Nifty index closed at 11222.40, The Nifty bank index closed above and hold 21411.30, and the Sensex settled above 37973.22. The Nifty index lost around -5.15 points, The Nifty bank index lost around -254.20 points and the Sensex lost -8.41 points in a single day.

Today, the Nifty index opened at 11288.60 went up to 11305.40, and closed at 11222.40, after making the low of 11181. Nifty Bank index opened at 21770.90 and stayed volatile between the high of  21811.50 to the low of 21280.60, and closed at 21411.30.

Daily Analysis of Stock Market – NIFTY – 29th September 2020 4

According to the Nifty Daily chart, Today Nifty sustained above its support level of 11175, Now Nifty can move towards 11200 to 11300 levels Alternatively, If the Nifty breaks and sustain below 11175 levels, then it might retest 10900 to 10800 levels.

NEWS HIGHLIGHTS

  • Automobile sales may fall 20-25% this fiscal: Ind-Ra.
  • Cairn seeks $1.4 billion in losses from retro tax demand.
  • Mazagon Dock, UTI AMC, Likhita Infra IPOs open Today. Check Mazagon Dock IPO GMP Here
  • Rupee settles 7 paise lower at 73.86 against US dollar.
  • Silver futures rise 0.5% to Rs 60,700 per kg on strong demand from Chinese economy improving.
  • Hindustan Zinc raises Rs 3,520 crore via NCDs.
  • Zeta appoints Abhishek Sen as new COO.

Trading zone for the Nifty index on 29th September 2020

Upside Resistance:-  11292, 11361, 11416.

Downside Support:-  11167, 11112, 11043.

Nifty 50

AdvancesDeclines
1634

In the Nifty 50, 16 stocks traded in green and whereas only 34 were declined on 29th September 2020.

Top 5 Nifty Gainer and Loser

Gainer%Loser%
Hindalco5.19ONGC-3.76
Ultratech Cement3.57Induslnd Bank-3.40
Hero Motocorp2.79UPL-3.28
JSW Steel2.56Power Grid Corp-2.88
TCS2.56Axis Bank-2.82

The most active value-wise stocks were Reliance, TCS, Bajaj Finance, Induslnd Bank, Hero Motocorp, and the volume-wise were Tata Motors, Hindalco, SBI, ITC, NTPC.

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

FII (Cr.)DII (Cr.)
-1456.66576.5

GSI Team

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