Stock Market Closing Report on 18 January 2021


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  • by Stocktry Expert
  • 18th Jan 2021

Stock Market Closing Report on 18 January 2021

NIFTY

MAX CALL OI : 14600

MAX PUT OI : 13500

PRICE RANGE : 14000 to 14500

50 DEMA : 13511

200 DEMA : 11765

TREND : Sideways

OVERVIEW : The index started the week on a negative note as it broke its psychological support of 14300 levels and fell below its 9 DEMA. It is forming lower lows since last two sessions and with the shift in the maximum put OI to 13500, we might see further profit booking towards 14000 and 13800 levels. Now, the profit booking may drag the index further lower towards 14200 levels while on the upside it has to move above 14500 levels to witness some relief. Traders are required to take cautious approach ahead of the Union Budget and quarterly results.

BANKNIFTY

MAX CALL OI : 32500

MAX PUT OI : 30000

PRICE RANGE : 31000 to 31800

50 DMA : 29898

200 DMA : 25737

TREND : Sideways

OVERVIEW : BankNifty played the major role in dragging Nifty down and gave the lowest close of last seven sessions with the loss of around 435 points. It has broken its support of 9DEMA and now the downside is open till 31200 and 31000 levels. It has witnessed a total fall of around 1000 points from the day it formed a gravestone DOJI. With quarterly result in line and also ahead of the budget taking a cautious view would be better for the traders. Index needs to move above 32500 levels to witness some relief while on the downside we may see it drifting towards 31200 levels.

STOCK OF THE DAY

  • LARSEN AND TOUBRO fell below its immediate support of 1340 levels and snapped most of the gains of previous two weeks.
  • RSI is indicating a further downside in the stock towards 1300 and 1280 levels. With selling being witnessed across the board a possibility of fall towards 1300 cannot be ruled out. On the upside resistance is at 1355 levels.
    • in Rs. Crores FII DII
    CURRENT PREVIOUS CURRENT PREVIOUS
    CASH 651 971 -43 -942
    GAINERS LOSERS
    - AUTO, METAL, MEDIA, REALTY, BANKING, PHARMA

    NEWS AND EVENTS

    • •Reports on China undertaking construction work along bordering areas with India, says MEA
    • •Yes Bank board meeting on January 22 to consider fund-raising
    • •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.
    • •Govt Official: Aim to soon sell up to 2% stake held by SUUTI in AxisBank. Aims to raise about Rs 3,500 cr via Axis Bank stake sale (From Agencies)
    • •IndiaMART approves raising up to Rs 1,100 cr via equity, debt: Agencies
    • •⚠️REMINDER:
    • *U.S. STOCK MARKETS ARE CLOSED MONDAY
    • •Mindtree Q3FY21 Results

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