Daily Analysis of Stock Market – NIFTY – 31st December 2020

On Thursday, The market had a gap down opening, Later It traded in a particular range. At the closing, the market closed in the red. The market was very much volatile today because of the monthly expire. The Nifty index closed at 13,981.75, The Nifty bank index closed above and hold 31,264.05, and the Sensex settled above 47,751.33. The Nifty index lost around -0.20 points, The Nifty bank index lost around -39.00 points and the Sensex gained 5.11 points in a single day.

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Today, the Nifty index opened at 13,970.00 went up to 14,024.85, and closed at 13,981.75, after making the low of 13,936.45. Nifty Bank index opened at 31,295.90 and stayed volatile between the high of 31,409.50, to the low of 31,088.10, and closed at 31,264.05.

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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  • Centre sticks to 8.5% as EPF interest rate for 2019-2020.
  • FDI equity inflow up 21% to $35.3 billion in April-October: DPIIT.
  • Govt directs ED, RBI to act against Amazon, Flipkart for violation of FDI, FEMA.
  • BHEL bags orders worth Rs 3,200 crore for hydro projects in Andhra Pradesh, Telangana.
  • Reliance Jio to make domestic voice calls free from January 1.
  • Chemcon Speciality Chemicals stock gains after Plutus Wealth Management acquires 10 lakh shares.
  • Glenmark Pharma gets USFDA nod for erectile dysfunction treatment drug.
  • Tejas Networks bags order worth $13 million.
  • Rupee opens 16 paise higher at 73.15 against dollar.

Trading zone for the Nifty index on 31st December 2020

Upside Resistance:-  14,114, 14,069, 14,026.

Downside Support:-  13,937, 13,893, 13,849.

Nifty 50

AdvancesDeclines
2327

In the Nifty 50, 23 stock traded in green and whereas only 27 were declined on 31st December 2020.

Top 5 Nifty Gainer and Loser

Gainer%Loser%
HDFC4.04Shree Cements-2.39
Sun Pharma1.43TCS-1.60
Hindalco1.33Bharti Airtel-1.25
ICICI Bank1.19UltraTech Cement-1.24
Divis Labs1.11Kotak Mahindra-1.11

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

FII and DII trading activity on NSE, BSE, and MSEI on Capital Market Segment as on 31st December 2020

FII (Cr.)DII (Cr.)
1135.59-257.64

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