Daily Analysis of Stock Market – NIFTY – 31st March 2021

On Wednesday, The market had a gap down opening and remained in red for the whole session. At the closing market closed in the red. The market was very much volatile today. The Nifty index closed at 14,690.70, The Nifty bank index closed above and hold 33,303.90, and the Sensex settled above 49,509.15. The Nifty index lost around -154.40 points, The Nifty bank index lost around -571.20 points, and the Sensex lost -627.43 points in a single day.

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Today, the Nifty index opened at 14,811.85 went up to 14,813.75, and closed at 14,690.70, after making the low of 14,670.25, The Nifty Bank index opened at 33,764.80 and stayed volatile between the high of 33,773.10, to the low of 33,131.80, and closed at 33,303.90

According to the Nifty daily chart, If Nifty breaks and sustain above 14950. Then Nifty can go towards 15,200 to 15300 levels, Alternatively, If Nifty does not break and sustain below 14,950 levels, then it might retest 14,200 to 14,400 levels.

NEWS HIGHLIGHTS

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  • Piramal Pharma to acquire peptide API-maker Hemmo Pharmaceuticals.
  • SBI raises $1 billion loans from JBIC to help COVID-hit Japanese auto companies in India.
  • HCC share price locked in upper circuit on getting Rs 1,259 crore from NHAI.
  • SpiceJet inks MoU with Avenue Capital for financing, acquisition of up to 50 aircraft.
  • Sterling and Wilson Solar US arm bags Rs 890 crore order.
  • Kalpataru Power Transmission bags new orders worth Rs 625 crore.
  • IRB Infrastructure shares jump 6% after bagging 2 contracts worth Rs 3,249 crore.
  • Rupee ends near the day’s high at 73.11 per dollar.
  • KNR Constructions share price up 3% on bagging NHAI order.

Trading zone for the Nifty index on 31st March 2020

Upside Resistance:-  14,780, 14,868, 14,923.

Downside Support:-  14,636, 14,581, 14,493.

Nifty 50

AdvancesDeclines
2624

In the Nifty 50, 26 stock traded in green and whereas only 24 were declined on 31st March 2021.

Top 5 Nifty Gainer and Loser

Gainer%Loser%
GAIL2.38HDFC-4.13
UPL2.21HDFC Bank-3.86
Grasim1.96Power Grid Corp-2.58
ITC1.84Tech Mahindra-2.50
Bajaj Finserv1.75Coal India-1.96

The most active value-wise stocks were HDFC Bank, Tata Steel, Tata Motors, Reliance, SBI, and the volume-wise were Tata Motors, SBI, ITC, GAIL, Tata Steel.

FII and DII trading activity on NSE, BSE, and MSEI on Capital Market Segment as on 31st March 2021

FII (Cr.)DII (Cr.)
-1685.912081.52

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