Daily Analysis of Stock Market – NIFTY – 30th December 2020

On Wednesday, 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 13,981.95, The Nifty bank index closed above and hold 31,303.05, and the Sensex settled above 47,746.22. The Nifty index gained around 49.35 points, The Nifty bank index lost around -19.45 points and the Sensex gained 133.14 points in a single day.

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Today, the Nifty index opened at 13,980.90 went up to 13,997.00, and closed at 13,981.95, after making the low of 13,864.95. Nifty Bank index opened at 31,479.80 and stayed volatile between the high of 31,510.25, to the low of 31,007.15, and closed at 31,303.05.

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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  • Rs 8 lakh crore worth of loans were written off by Indian banks in the last decade.
  • Rupee settles 11 paise higher at 73.31 against US dollar.
  • UK nod to Oxford-AstraZeneca COVID-19 vaccine strengthens the case for India approval.
  • Exports may reach $290 billion by fiscal-end: FIEO.
  • BHEL bags order from Nuclear Power Corporation.
  • Yes Bank names Niranjan Banodkar as new CFO.
  • Zydus Cadila receives a DCGI nod for the NAFLD drug in India.
  • JMC Projects bags orders worth Rs 698 crore.
  • Punjab and Sind Bank’s Rs 5,500 crore zero-coupon bonds come under RBI scrutiny: Report.

Trading zone for the Nifty index on 30th December 2020

Upside Resistance:-  14,031, 14,080, 14,163.

Downside Support:-  13,899, 13,816, 13,767.

Nifty 50

AdvancesDeclines
3416

In the Nifty 50, 23 stock traded in green and whereas only 27 were declined on 30th December 2020.

Top 5 Nifty Gainer and Loser

Gainer%Loser%
UltraTech Cement4.04IndusInd Bank-1.52
Shree Cements3.19Sun Pharma-1.12
Grasim2.74Axis Bank-0.81
UPL2.73Bharti Airtel-0.79
Bajaj Finance2.57TCS-0.72

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 30th December 2020

FII (Cr.)DII (Cr.)
1824.52-587.43

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