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Zee Business Stock, Trading Guide: The Indian markets extended gain for the third straight session on Monday, to close at a nearly 1-month high. The BSE Sensex jumped 322 points to 60,115 and Nifty50 gained by 103 points to 17,936 levels today at close.
While Nifty Bank rose 158 points to 40,574 and the Midcap index up by 310 points to 32,345 at the market close on Monday.
Markets started the week on a firm note and gained over half a percent, in continuation of the prevailing trend, Ajit Mishra, VP – Research, Religare Broking Ltd said in his market quote,
He added that firm global cues triggered an upbeat start in Nifty, and it almost retested the previous swing high closer to the 18,000 marks in early trades and remained range bound thereafter.
Meanwhile, strong traction in the realty, IT, and media pack combined with noticeable buying on the broader front kept the participants busy, Mishra further said.
“The recent rebound in the global markets especially the US is adding to the market strength, and we reiterate our immediate target of 18,100+ in Nifty. Apart from the heavyweights, participants should also look at broader indices for trading opportunities,” the market analyst advised.
Here is a list of things to watch out for on 13 September 2022
Key support & resistance levels for Nifty50:
The Nifty50 closed 0.58 per cent higher at 17,936.35. Key Pivot points (Fibonacci) support for the index is placed at 17900.45, 17878.88, and 17843.96 while resistance is placed at 17970.28, 17991.85, and 18026.77.
Key support & resistance levels for Nifty Bank:
The Nifty Bank closed 0.39 per cent lower at 40,574. Key Pivot points (Fibonacci) support for the index is placed at 40428.32, 40355.87 and 40238.6 while resistance is placed at 40662.87, 40735.32, and 40852.6.
Gross Open Interest:
Open Interest means the number of contracts open or outstanding in futures trading in NSE at any one time. One seller and one buyer together create one contract.
Here the gross values of Open Interest Positions taken by the four participants namely Client are Clients are the retail individual investors who invest in the derivatives instruments, DIIs are domestic individual investors, FIIs are foreign institutional investors and Pro are the proprietors and brokerage firms who trade on their own behalf.
Image Source – Stockedge
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FII Activity on Monday:
Foreign portfolio investors (FPIs) remained net buyers for Rs 2049.65 crore in the Indian markets while Domestic Institutional Investors (DIIs) were net sellers to the tune of Rs 890.51 crore, provisional data showed on the NSE.
FII Index and Stock F&O:
Image Source – Stockedge
Bulk Deals:
Bodal Chemicals Ltd: Samyaktva Construction LLP sold 7,00,000 equity shares in the company at the weighted average price Rs 101.02 per share on the NSE, the bulk deals data showed.
Muthoot Cap Serv Ltd: BNP Paribas Arbitrage bought 2,45,000 equity shares in the company at the weighted average price Rs 196 per share on the NSE, the bulk deals data showed.
Focus Lightg: Purvi Prabhatchandra Jain Limited bought 52,605 equity shares in the company at the weighted average price Rs 135.97 per share on the NSE, the bulk deals data showed.
Vaishali Pharma Limited: Amaysha Textiles Private Limited bought 68,000 equity shares in the company at the weighted average price Rs 147.58 per share on the NSE, the bulk deals data showed.
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