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| Nifty and Bank Nifty Technical Analysis |
Stock Market Today-Indian stock market closed in a positive zone after a long consecutive fall. Today morning the global cues indicate a positive opening for the stock market on the hopes of a positive outcome of the ongoing US-China trade negotiations. In the end, the Nifty and Sensex closed at 10735.50 and 35756.26 almost 1.20 percent up whereas Bank Nifty closed at 26955.50, 1 percent up from yesterday's close.
Another reason for the bounce back in Indian stock market is appreciation in Rupee due to the fall in Crude Oil price. Strong buying in PSU Bank was also seen in the last two days due to the news of Capital infusion of 47000 Cr into PSU Bank
Moody has changed the Yes Bank's rating from negative to stable, the share has gained 3 percent on the news.ADAG stocks were the biggest losers today after the news flashed that the Supreme Court holds Anil Ambani guilty of contempt. Anil Ambani will be sent in jail for 3 months in case of default on payment. ADAG stocks were down to 6 to 8 percent.
Nifty 50 Stocks: Top gainers and Losers of the day
| Nifty 50 Stocks-Top 5 Gainers of the Day | |||||
| Company Name | LTP (Rs ) | Prev Close (Rs ) | Change (Rs ) | Change (%) | 52 week H/L( Rs) |
| Indiabulls Hous. | 645.2 | 614.3 | 30.9 | 5.03 | 1,397.00-575.35 |
| Vedanta | 160.25 | 153.1 | 7.15 | 4.67 | 345.00-145.80 |
| Adani Ports | 354.75 | 339.55 | 15.2 | 4.48 | 417.00-292.10 |
| Tata Steel | 491.15 | 470.95 | 20.2 | 4.29 | 693.40-441.35 |
| O N G C | 144.05 | 139.15 | 4.9 | 3.52 | 194.35-127.60 |
| Nifty 50 Stocks-Top 5 Losers of the Day | |||||
| Company Name | LTP (Rs ) | Prev Close (Rs ) | Change (Rs ) | Change (%) | 52 week H/L( Rs) |
| Hero Motocorp | 2623.75 | 2636.85 | -13.1 | -0.5 | 3,825.00-2,561.00 |
| Bajaj Auto | 2774.7 | 2787.85 | -13.15 | -0.47 | 3,194.95-2,420.00 |
| Dr Reddy's Labs | 2525.15 | 2536.9 | -11.75 | -0.46 | 2,878.00-1,872.95 |
| Zee Entertainmen | 445.05 | 446.45 | -1.4 | -0.31 | 609.75-288.30 |
| Hind. Unilever | 1733.5 | 1737.95 | -4.45 | -0.26 | 1,869.50-1,281.10 |
Nifty Future Technical Analysis For Tomorrow 21st Feb
Nifty Future Primary Trend- Up – Real-Time Volatility of 10.8936% (Range of 86 Points)
Nifty Future Range Bound Trend: All up moves initiates Profit Booking (Sale) @ 10797 whereas all down moves initiate Short Covering (Buy) @ 10720
If Nifty future moves above 10775 then you should Buy with 1st Target of 10815 during the day with a Stop Loss of 10740 For the Target of 10815-10840-10865- 10893
Bank Nifty Future Technical Analysis For Tomorrow 21st Feb
Bank Nifty Future Primary Trend: Up - Real-Time Volatility of 9.9347% (Range of 197 Points)
Bank Nifty Future Range Bound Trend: All up moves initiates Profit Booking (Sale) @ 27125 whereas all down moves initiate Short Covering (Buy) @ 26925
If Bank Nifty future moves above 27065 then you should Buy with 1st Target of 27185 during the day with a Stop Loss of 26985 For the Target of 27185 -27245 - 27310- 27385
If Bank Nifty future moves below 26985 then you should Sell with 1st Target of 26865 during the day with a Stop Loss of 27065 FOR the Target of 26865 - 26802 - 26740- 26665
Conclusion:
As per the technical analysis, the chart is showing both Nifty and Bank Nifty trends are positive. Technical levels are mentioned above, you can take views and levels of both Nifty and Bank Nifty for tomorrow's trade. Traders should keep in mind that tomorrow is Nifty and Bank Nifty weekly options expiry so you should remain cautious before any trade.
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Happy Investing!
Finogyan Team
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