Stock Market Closing Report on 12 January 2021


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  • by Stocktry Expert
  • 12th Jan 2021

Stock Market Closing Report on 12 January 2021

NIFTY

MAX CALL OI : 15000

MAX PUT OI : 14200

PRICE RANGE : 14200 to 14600

50 DMA : 13260

200 DMA : 11197

TREND : Sideways to positive

OVERVIEW : Bulls have an upper hand on the index 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 14800 levels. Every decline in the market is being bought into. However, being a little caution wont harm anyone ahead of the quarterly results and Union Budget.

BANKNIFTY

MAX CALL OI : 32500

MAX PUT OI : 32000

PRICE RANGE : 31600 to 32600

50 DMA : 29650

200 DMA : 23459

TREND : Sideways to positive

OVERVIEW : The index managed to reclaim its positive price action after the negative close of last two session. The support of it 9DMA is working really well on the index. However, with quarterly result in line of the index major HDFCBANK and also ahead of the budget taking a cautious view would be better for the traders. The immediate resistance is at 32600 then 32800 levels while the support is at 32000.

STOCK OF THE DAY

  • BPCL has formed a golden crossover on daily chart which is indicating bottom formation.
  • It is on the verge of the strong breakout from the falling supply trend line and is set to head towards 414 then 420 levels.
  • The support for the stock is at 397 levels.
    • in Rs. Crores FII DII
    CURRENT PREVIOUS CURRENT PREVIOUS
    CASH 571 3139 -1334 -2610
    GAINERS LOSERS
    BANKING, AUTO, MEDIA, METAL, REALTY FMCG, IT, PHARMA

    NEWS AND EVENTS

    • •Rules under codes on industrial relations, social security and occupational safety health & working conditions (OSH) will be finalised by month-end paving the way for implementation of four labour reform laws much before April 1.
    • •The finance ministry on Monday rejected demand for further extension of the last date for filing returns where audit is required beyond February 15. Last month, the government had extended the income tax return (ITR) filing deadline for individuals till January 10, and for companies till February 15.
    • •Income tax returns filed this year have risen by about 5 per cent to nearly 6 crore as more businesses and entities filed annual income statements.
      Over 5.95 crore income tax returns (ITRs) for the fiscal year ended March 31, 2020 (2019-20) were filed by January 10, the Income Tax Department said.
    • •Bharti is initiating the process to revise its foreign investment limit, as notified to its depositories, to 100% with immediate effect. *NSDL should soon update it* MSCI Weight up can result in to ~$600-700mn of inflow which is 5.5D ADV in the Feb Review.
    • •RESULTS FOR THE DAY: WIPRO, INFY, CESC, VARROC

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