MarketView by Trade Brains Daily market analysis, updates and views for the next day. Get directly on your telegram. Join here: https://t.me/MarketViewTB
Market Views for the Day:
- As expected, the market is still trying to decide on the direction of the move
- The Market has reacted in a negative way, with the number of cases increasing by day and Mumbai extending lockdown by another month
- The Market stuck in still in a tighter range between 10200 and 10400. And it can still be called as a no trade zone.
- Market ended weak with only FMCG index ending in Green
- Markets started on a Negative note for the day with SGX Nifty Trading in Red at the beginning of session.
- The Sensex Opened at 34926.95 and closed at 34961.52 . The high for the day way 35032.36 and the low for the day was 34662.06 . Sensex lost - 0.60% for the day
- Nifty Opened at 10311.95 , the high for the day was 10337.95 and the low for the day was 10223.60 . Nifty closed at 10312.40 . Nifty lost - 0.68% for the day
- Bank Nifty Opened at 21291.55 , the high for the day was 21440.05 and the low for the day was 21026.45 . Bank Nifty closed at 21359.00 . Bank Nifty lost -1.08% for the day
Top Gainers & Losers:
- The Sector for the day: FMCG, gained 0.72% for the day. All FMCG majors like Britannia, HUL, ITC ended in Green. Nifty Meta and Nifty PSU banks were the biggest losers of the day
- The Top 5 gainers (Nifty 50) for the day were- Britannia, HDFC Bank, CIPLA, Kotak Bank, ITC
- The Top 5 losers (Nifty 50) for the day were – Coal India, AXIS Bank, Tech Mahindra, Hindalco, SBIN
FII & DII data:
The Net FII selling for the day was -1937.06 cr. The Net DII buying was 1036.13 cr.
Views for tomorrow:
- The Market started on a negative note and ended the day almost three quarter of a percent lost on most indexes. The major impetus for the market came from FMCG sector, but all the other index ended the day in RED
- The market has been able to defend the all-important levels of 10200 and trading above it. The Market is brewing for a big move.
- However, the market is yet to trade comfortably above the decisive resistance of 10400.
- But with a series of negative factors, the markets look like making a move downwards
- For Nifty, 10300 become an important resistance for the day. If the market continues to trade below 10300, the recent lows of 10200 levels should be re-tested. Important levels on downside are 10200 and 10050. On the upside 10400 becomes a very important resistance
- For Bank Nifty, 21600 is a very crucial resistance. The important level on the downside are 21000 and 20500. If market sustains below 21400, then moves to near 20500 cannot be ruled out.
Disclaimer: The information contained here are for educational and informational purposes only. The stocks discussed are the research and personal views of the authors should ‘not’ be considered as any kind of buy, sell or any advisory/recommendation.
We have done our best to ensure that the information provided on this Website are accurate and provide valuable information. Regardless of anything to the contrary, we shall be held liable or responsible for any errors or omissions on this website or for any damage you may suffer as a result of failing to seek competent financial advice from a professional who is familiar with your situation