Stock Market Closing Report on 14 January 2021


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  • by Stocktry Expert
  • 14th Jan 2021

Stock Market Closing Report on 14 January 2021

NIFTY

MAX CALL OI : 14700

MAX PUT OI : 14500

PRICE RANGE : 14200 to 14600

50 DEMA : 13441

200 DEMA : 12051

TREND : Sideways to positive

OVERVIEW : The index traded inside the trading range of previous session and formed a small candle on daily chart. It ended the winning streak of making higher highs higher lows of last nine sessions. Thus, we might see some consolidation in Nifty, as we have been noticing indecisiveness at the higher levels. Now, if it breaks the low of 14432 levels then the profit booking might be seen till 14350 then 14280 levels, while on the upside the resistance is placed at 14700 levels. Traders are required to take cautious approach ahead of the Union Budget and quarterly results.

BANKNIFTY

MAX CALL OI : 32600

MAX PUT OI : 32500

PRICE RANGE : 31600 to 32600

50 DMA : 29721

200 DMA : 25781

TREND : Sideways to positive

OVERVIEW : BankNifty underperformed the nifty index and also formed a DOJI candle on chart, indicating indecisiveness in the market. The support of it 9DEMA is working really well on the index. It has formed a DOJI candle for continuous two sessions thus giving us a sense of caution. 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 32800 then 33000 levels while the support is at 32200.

STOCK OF THE DAY

  • HINDPETRO has formed a golden crossover on daily chart which is indicating bottom formation and also the RSI is supporting the positive price action in the stock.
  • It is on the verge of breakout from its falling supply trend line and moving in line with its peer stock BPCL. It is set to head towards 241 then 246 levels.
  • The support for the stock is at 230 levels.
    • in Rs. Crores FII DII
    CURRENT PREVIOUS CURRENT PREVIOUS
    CASH 1077 1879 -188 -2370
    GAINERS LOSERS
    AUTO, PHARMA, PSUBANK, FMCG METAL, IT, MEDIA, PRIVATE BANKS

    NEWS AND EVENTS

    • •Fed Chair Jerome Powell speech tonight at 11 pm IST.
    • •MSCI has announced that Bharti shall be a part of Feb 2021 quarterly review.
    • •INDIGO PAINTS : IPO Price band at 1488-1490/Sh, FY20 EPS at 10.5, Offered at 141X FY20 PE, Even EPS Doubles by by FY22, Co offered at 71X FY22e PE
    • •"Adani Group is pleased to announce the award of another hybrid annuity road project from NHAI. AEL has recently participated in tender issued by NHAI under HAM and we are pleased to inform you that AEL has received a letter of award (LOA) from NHAI for...road project in the state of Kerala," the company said in a filing to the BSE.
    • •India's economy to slow down to 6.5% in medium term after initial rebound: Fitch
    • •RESULTS FOR THE DAY: I;&FSENGG, 3IINFOTECH, PVR, L&TFH, GAIL, HCLTECH, HATHWAY, VGUARD

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