Stock Market Closing Report on 11 January 2021


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  • by Stocktry Expert
  • 11th Jan 2021

Stock Market Closing Report on 11 January 2021

NIFTY

MAX CALL OI : 14800

MAX PUT OI : 14200

PRICE RANGE : 14200 to 14600

50 DMA : 13203

200 DMA : 11164

TREND : Sideways

OVERVIEW : Index is trading under the influence of the bulls as it has been making higher top higher bottom formation since last 10 weeks. The support for the index is around 14200 levels while on the upside we may see it heading towards 14500 levels. However, it has formed a small DOJI candle on daily chart thus giving us first sign of trading cautiously in the market.

BANKNIFTY

MAX CALL OI : 32500

MAX PUT OI : 32000

PRICE RANGE : 31600 to 32600

50 DMA : 29485

200 DMA : 23383

TREND : Sideways

OVERVIEW : The index underperformed the nifty index and is giving early sign of topping out formation for a immediate fall towards 31600 levels. However, with quarterly result in line and also ahead of the budget taking a cautious view would be better for the traders. The immediate resistance is at 32600 levels.

STOCK OF THE DAY

  • CARE RATING has formed a golden crossover on daily chart which is indicating bottom formation.
  • It has given a strong breakout with huge volumes on daily chart thus, we may see the stock moving towards 585 levels.
  • The support for the stock is at 522 levels.
    • in Rs. Crores FII DII
    CURRENT PREVIOUS CURRENT PREVIOUS
    CASH 3139 6030 -2610 -2373
    GAINERS LOSERS
    AUTO, FMCG, IT, PHARMA, REALTY BANKING, MEDIA, METAL

    NEWS AND EVENTS

    • •The Centre has released the 11th instalment of Rs 6,000 crore to states as a back-to-back loan to meet the compensation shortfall in collection of goods and services tax, taking the total amount released so far through the special borrowing window to Rs 66,000 crore, the finance ministry said on Monday. They also added, “Now, more than 60% of the estimated GST compensation shortfall has been released to the states & UT with legislative assembly,”

    • •TataMotors denies any talks of collaboration between Tesla & Tata Motors Says co has not taken any decision regarding a strategic partner for its PV business & categorically denies any and all rumours suggesting the sameInfra sector firms want renegotiation of EPC contracts amid rise in input cost; While several private companies in the infrastructure space are raising demand for renegotiation of EPC contracts amid rise in input costs, the World Bank as well as the country's largest commercial lender State Bank of India have voiced their opposition.
    • •India govt inks purchase order with serum insti ndia for 11 million doses; dispatches to start later this evening.
    • •The National Highways Authority of India (NHAI) is looking to raise around Rs 65,000 crore in the next fiscal year, and the finance ministry is likely to include it in the upcoming budget.

    RESULTS FOR THE DAY: TATAELXSI, INDIAN BANK, KARNATAKA BANK

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