View for the day - 17th sept, 2020

MarketView by Trade Brains Daily market analysis, updates and views for the next day. Get directly on your telegram. Join here: 1

Market View for the Day:

In the poll conducted by Trade brains yesterday regarding the weekly expiry range, more than 60% on the participants were of the view that the market is likely to expire below 11600 levels.
The major news for the market today was the escalating tensions on India-China border, and it reflected in the market sentiments and it ended the day below the lows of yesterday.
The market did manage to go below the 11500 level and eventually settled above it. But the level of 11500 becomes very crucial level to watch out for tomorrow.
Bank Nifty was the major loser for the day. The level of 22000 becomes a very crucial level of support and 22800 becomes a crucial level of resistance in the market.
If the market manages to stay above the lows of today, we could again be heading to highs of yesterday.
Bank Nifty was the major loser for the day. And most of the major private banks lost a lot of ground today.
The market started the day in Red and the breadth at the end of the day was firmly in favour of bears (12 advances and 38 declines in Nifty 50 for the day).

Views for Tomorrow:

The level of 11500 becomes very crucial level to watch out for tomorrow. The global sentiments will play a crucial role in the development of market tomorrow.
Stocks to watch out for tomorrow: Dr.Reddy’s, ZEEL, Infosys, Hindalco, TATA motors and Shree cement.
The next level of resistance for Nifty is 11600. And the crucial level of support will be in the range of 11500 and 11400.
In Bank Nifty, the important level of resistances will be 22800. And the important levels of support is 22200 and 21800.

Data Points

Index Open High Low Close Gain/Loss
Sensex 39120.64 39234.81 38926.34 38979.85 -0.82%
Nifty 11539.80 11587.20 11498.50 11516.10 -0.76%
Bank Nifty 22352.00 22504.45 22267.05 22320.35 -1.12%

Top 5 Gainers:

Company Closing Price % Gained
Dr. Reddy's 4825.00 4.26
ZEEL 220.95 2.36
HCL Tech 806.30 2.16
Infosys 1011.00 0.92
Grasim 725.90 0.76

Top 5 Losers

Company Closing Price % Loss
Hindalco 175.80 -4.35
TATA Motors 147.75 -2.44
Shree Cement 19910.00 -2.34
BAJAJ Finserv 6010.75 -2.20
Adani Ports 346.45 -2.01

FII & DII Data:

Institution Buying/Selling
FII -249.82 cr
DII -1067.83 cr

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