Daily Analysis

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

Daily-Analysis-of-Nifty

On Friday the market had a gap up opening but it was unable to hold and closed in the red session. The market traded in a range today. The market was very much volatile today. On the closing bell, the Nifty index closes at 11073.45, Niftybank index closed above and hold 21640 and the Sensex settled above 37600. The Nifty index lost around –28.70 points, Niftybank index lost around -6.80 points and the Sensex lost more than –129.18 points in a single day.

Today, the Nifty index opened at 11139.50 went up to 11150.40, and closed at 11073.45 after making the low of 11026.65. Nifty Bank index opened at 21730.55 and stayed volatile between the high of  21806.95 to the low of 21375 and closed at 21640.05

Daily Analysis of Stock Market – NIFTY – 31st July 2020 3

According to Nifty 4 Hourly chart, Nifty index broke its support level of 11085 and now it may fall further to 10850, if nifty breaks and sustain above 11085 levels then rise will continue and it can go towards 11500 levels in upcoming sessions

NEWS HIGHLIGHTS

  • SEBI relaxes the upfront margin framework.
  • Pfizer, BioNTech to supply 120 million doses of coronavirus vaccine to Japan.
  • Crude oil futures up 0.6%, WTI trades above $40 a barrel.
  • SEBI extends digital signature certification till December 31.
  • Paisabazaar launches digital lending in partnership with banks.
  • JSW Energy terminates Rs 5,321 crore deal to acquire GMR Kamalanga Energy.
  • Sun Pharma posts Q1 loss Rs 1,655.6 crore on one-time loss, but operating numbers beat estimates.
  • IOC misses street estimates, reports 47% YoY fall in Q1 net profit.
  • Zydus Wellness June quarter net profit up 11% at Rs 89 crore.
  • SBI Q1 profit jumps 81% to Rs 4,189.34 crore, asset quality improves with sharp decline in slippages.

Trading zone for the Nifty index on 31st July 2020

Upside Resistance:-  11140, 11207, 11264.

Downside Support:-  11017, 10960, 10893.

Nifty 50

AdvancesDeclines
3218

In the Nifty 50, 32 stocks traded in green and whereas the only 18 were declined on 31st July 2020.

Top 5 Nifty Gainer and Loser

Gainer%Loser%
Grasim4.99Eicher Motors-2.65
Cipla4.99Reliance-1.98
Sun Pharma4.27HDFC Bank-1.70
UPL2.92Asian Paints-1.60
JSW Steel2.75HDFC-3.15

The most active value-wise stocks were Reliance, SBI, Bajaj Finance, Sun Pharma, HDFC Bank, and the volume-wise were SBI, IOC, Sun Pharma, ICICI Bank, Reliance.

Important Results To Be Declared Tomorrow

  • Relaxo Footwears
  • CreditAccess Grameen

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

FII (Cr.)DII (Cr.)
-958.64442.73
GSI Team

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