Tuesday, October 20, 2020

Nifty and BankNifty, Stock Market Outlook 21 October 2020

  

 Nifty and BankNifty, Stock Market Outlook 21 October 2020 

Nifty: 11896 + 24
 BankNifty: 24311  +45

Stock Market Today 

The CNX Nifty ended at 11896.80, up by 23.75 points or 0.20% after trading in a range of 11837.25 and 11949.25. There were 25 stocks advancing against 25 stocks declining on the index.

The top gainers on Nifty were HCL Tech. up by 4.13%, Tech Mahindra up by 3.12%, Asian Paints up by 2.34%, Bharti Airtel up by 1.84% and HDFC Bank up by 1.69%. On the flip side, Britannia down by 5.81%, ONGC down by 2.74%, Indian Oil Corporation down by 2.28%, GAIL India down by 2.00% and UPL down by 1.62% were the top losers. 

Markets remained higher for the almost whole day, as domestic sentiments were optimistic, as markets regulator SEBI allowed exchanges dealing with agri-commodity derivatives to utilise the fund created for farmers and FPOs for reimbursement of mandi tax and charges incurred by them on storage and transportation of goods.

 The decision was taken based on the recommendations of the Commodity Derivatives Advisory Committee (CDAC). Some support also came after Finance Minister Nirmala Sitharaman exhorted large central public sector enterprises (CPSEs) to achieve by December 75 per cent of their planned capital expenditure (capex) target for 2020-21, to support economic growth hit by the COVID-19 crisis


Nifty Outlook

nifty , finvestonline.com

Tomorrow in upside 12028 will be immediate resistance and in downside 11855 will be immediate support. 

BankNifty Outlook

banknifty, finvestonline.com

Tomorrow in upside 24,748 will be immediate resistance and in downside 24188 will be immediate support.


Thanks for your Precious Time.


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2 comments:

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    1. Welcome ,
      I regularly post Unique Investment Stock Ideas and Stock Market ( Nifty & BankNifty ) outlook on this website with fundamental and technical analysis. Here Long and Short term stock ideas are also posted regularly which is completely free.
      Thanks for your Precious Time.

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