In yesterday’s trading, the market closed with a weakness of around 0.5 per cent, losing all its gains in the last hours. Fear is growing in the market about the rising issue of Corona and there has been apprehension about the growth of the economy, which is being seen in the market.
In yesterday’s trade, the Sensex lost 243.62 points to close at 47,705.80, while the Nifty fell 63.10 points to close at 14,296.40. Rajesh Palviya of Axis Securities says that the Nifty has been trading in the range of 14,650-14,200 for the last 6 consecutive sessions with huge fluctuations, indicating that there is a lack of strength on both the top and bottom. There is a trend of weakness in the index.
The Nifty is forming lower top and lower bottom formations with signs of weakness indicating short term decline. He further said that the next higher level of Nifty is around 14,400, which should be monitored. Any durable rise above 14,400 can move the Nifty towards 14,500 and 14,650 levels. Short term traders should use this pull back as an exit opportunity. At the same time, any fall below the intra-day support level of 14,200 can lead the Nifty to the 14,000 level.
In mid-day trading, the small-cap stocks outperformed the peers. The midcap 100 index of the Nifty was seen to rise by 0.3 per cent. On the other hand, the Small Cap 100 index saw an increase of about 1 percent.
Critical level for nifty
Experts say that there is significant support for the Nifty at 14,160.13. It is followed by another support at 14,023.87. If the Nifty gains, then there is another registration at 14,479.83 and then 14,663.27.
On 20 April, the Nifty Bank saw a decline of 95.7 points and closed at the level of 31,112.70. The key support for the Nifty is the position at 30,758.57 and then at 30,404.43. On the upside is the first registration for the Nifty at 31,599.27 and then the second registration at 32,085.83.
Results to come tomorrow
Some important results are coming tomorrow. Which will be monitored by the market. The list includes Cyient, Indus Towers, Rallis India, Sasken Technologies, Tata Elxsi, Visaka Industries, Amal, Fineotex Chemical, Filatex India, Hindustan Bio Sciences, Indbank Merchant Banking Services and Ind Bank Housing.
Nestle India And Swaraj engine Shares of Yesterday will remain in focus on the back of their impressive quarterly results. while Asahi Songwon Colors It has been reported from Utsav that Pandavar has resigned from the post of Chief Financial Officer. The impact of this news will be seen on the shares of the company tomorrow.
Just like that Voltas Tomorrow also will be in the headlines due to the acquisition of 46,000 shares by Life Insurance Corporation.
Orient Bell भी Porinju Veliyath The focus will be on the news of the stake being reduced by 3.90 per cent stake owned by Equity Intelligence India.
Salasar Techno Engineering Has received new orders worth Rs 27.45 crore and Rs 20.25 crore from Rajasthan State Electricity Broadcasting Corporation. Due to this news, this stock may remain in focus tomorrow.
FII and DII data
On April 20, FII sold Rs 1,082.33 crore in the Indian market, according to provisional data available on the NSE. DII (domestic fund) made a purchase of Rs 1,323.01 crore.
F&O Banned Shares on NSE
On 22 April SAIL And Sun TV Network F&O banned shares will remain.
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