Daily Analysis of Stock Market – NIFTY – 3rd August 2020

Daily-Analysis-of-Nifty

On Monday the market had a gap down opening and it was unable to recover and closed in the red session. The market was very much volatile today. On the closing bell, the Nifty index closes at 10891, Niftybank index closed above and hold 21070 and the Sensex settled above 36900. The Nifty index lost around -181.85 points, Niftybank index lost around -567.95 points and the Sensex lost more than -667.29 points in a single day.

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Today, the Nifty index opened at 11057.55 went up to 11058.05, and closed at 10891.60 after making the low of 10882.25. Nifty Bank index opened at 21543.80 and stayed volatile between the high of  21543.80 to the low of 21031.45 and closed at 21072.10

Daily Analysis of Stock Market – NIFTY – 3rd August 2020 1

According to Nifty 4 Hourly chart, Nifty index is near its support level of 10850, If Nifty Index will break and sustain below 10850 then nifty will fall further and if the nifty index will bounce from the support level of 10850 then it can go towards 11200 to 11250 levels

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NEWS HIGHLIGHTS

  • Kansai Nerolac Q1 net falls 79% to Rs 29.64 crore.
  • Crude palm oil futures touched a fresh high of Rs Rs 748.80 per 10 kg.
  • Wockhardt shares hit 10% upper circuit on COVID vaccines tie-up with UK govt.
  • Bank of India’s Q1 net profit rises over three-fold to Rs 844 crore.
  • Amazon India launches a new fulfillment center in Ludhiana.
  • Nippon Life India AMC appoints Parekh Ashvin as an independent director.
  • Bandhan Bank shares tumble 8% on the buzz of promoter selling 20% stake.

Trading zone for the Nifty index on 3rd august 2020

Upside Resistance:-  11006, 11120, 11181.

Downside Support:-  10830, 10768, 10654.

Nifty 50

AdvancesDeclines
1535

In the Nifty 50, 15 stocks traded in green and whereas the only 35 were declined on 3rd august 2020.

Top 5 Nifty Gainer and Loser

Gainer%Loser%
Tata Motors8.03UPL-5.44
Titan Company3.27Kotak Bank-4.19
Tata Steel1.97Induslnd Bank-3.95
BPCL0.97HDFC Life-3.84
Eicher Motors0.70Axis Bank-3.31

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

Important Results To Be Declared Tomorrow

  • MRPL
  • Tata Consumer
  • Godrej Consumer
  • Gujarat Gas
  • PI Industries
  • Varun Beverages
  • Dixon Technologies

FII and DII trading activity on NSE, BSE and MSEI on Capital Market Segment as on 3rd August 2020

FII (Cr.)DII (Cr.)
7818.49-135.55