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

Daily-Analysis-of-Nifty

On Wednesday market had a gap flat opening, Later it traded in a particular range. At the closing, the market closed in the green. The market was very much volatile today, On the closing bell, the Nifty index closed at 11247.55, The Nifty bank index closed above and hold 21451.80, and the Sensex settled above 38067.93. The Nifty index gained around 25.15 points, The Nifty bank index gained around 40.50 points and the Sensex gained 94.71 points in a single day.

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Today, the Nifty index opened at 11244.45 went up to 11295.40, and closed at 11247.55, after making the low of 11184.55. Nifty Bank index opened at 21405.25 and stayed volatile between the high of  21549.35 to the low of 21128.50, and closed at 21451.80.

Daily Analysis of Stock Market – NIFTY – 30th September 2020 1

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

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  • Dhanlaxmi Bank shareholders oust MD and CEO Sunil Gurbaxani.
  • Silver futures slip nearly 3% to Rs 60,650 per kg on a stronger dollar.
  • India’s current account balance surplus rises to $19.8 billion on lower trade deficit: RBI.
  • BPCL share price slips 9% after the stake-sale deadline is extended yet again.
  • The rupee settles 10 paise higher at 73.76 against the US dollar.
  • JSPL receives rail supplier status from Indian Railways.
  • Sunstone raises Rs 24 crore in Series A from Saama Capital, others.

Trading zone for the Nifty index on 30th September 2020

Upside Resistance:-  11300, 11353, 11411.

Downside Support:-  11190, 11132, 11079.

Nifty 50

AdvancesDeclines
2525

In the Nifty 50, 25 stocks traded in green and whereas only 25 were declined on 30th September 2020.

Top 5 Nifty Gainer and Loser

Gainer%Loser%
Grasim3.15BPCL-8.67
Tech Mahindra3.07Bharti Airtel-3.36
Titan2.92Tata Steel-2.78
Shree Cements2.13JSW Steel-2.24
Dr. Reddys Labs2.04HDFC Life-2.00

The most active value-wise stocks were Dr. Reddys Labs, Reliance, BPCL, Bajaj Finance, Bharti Airtel, and the volume-wise were Tata Motors, BPCL, SBI, Bharti Airtel, ONGC.

FII and DII trading activity on NSE, BSE, and MSEI on Capital Market Segment as on 30th September 2020

FII (Cr.)DII (Cr.)
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