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Zee Business Stock, Trading Guide: The Indian markets extended gaining streak to 4 days, as both the benchmark indices – Sensex and Nifty50 hit 5-month highs on Tuesday. The former surged over 455 points or 0.76 per cent to 60,571, while the latter settled at 18,070, up 133 points or 0.75 per cent.
According to Zee Business Managing Editor Anil Singhvi, “The markets witnessed a historic trading session today as Nifty ended above 18,000 for the 1st time since April 5, 2022, and sustained above key level after a gap-up opening.”
Even, Nifty Bank saw a bull rally as the 12-share banking index closed nearly 400 points away at 40,873 from its life high level of 41,238, Singhvi said, adding that a massive action was also seen in broader markets such as mid and small cap today.
Positive global cues and markets, steady oil movement, foreign investors’ buying spree, rupee appreciating on a weak dollar are some of the key triggers that lead to the surge in the market, the managing editor said while explaining the fourth straight rally on Tuesday.
Similarly, the market analyst Ajit Mishra, who is VP – Research at Religare Broking said that the firm global cues triggered an upbeat start in Nifty50, and it almost retested the previous swing high closer to the 18,000 mark in early trades and remained range bound thereafter.
“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,” Mishra further said.
Here is a list of things to watch out for on 14 September 2022
Key support & resistance levels for Nifty50:
The Nifty50 closed 0.75 per cent higher at 18,070.05. Key Pivot points (Fibonacci) support for the index is placed at 18030.09, 18012.88, and 17985.04 while resistance is placed at 18085.78, 18102.99, and 18130.84.
Key support & resistance levels for Nifty Bank:
The Nifty Bank closed 0.74 per cent lower at 40,873.10. Key Pivot points (Fibonacci) support for the index is placed at 40743.4, 40693.74 and 40613.37 while resistance is placed at 40904.14, 40953.8, and 41034.17.
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
Stocks in News
Oil & Gas stocks in focus: OPEC Keeps 2022 demand outlook for its Oil unchanged at 28.9 million barrels per day
KEC International bags orders worth Rs 1,108 crore
Hatsun Agro board to consider raising funds via rights share issue on September 19, 2022.
JSW Steel signs MoU with SMS Group for carbon reduction projects. To invest ₹10,000 crore to reduce carbon emissions from steel manufacturing.
Bajaj Holdings to pay interim dividend of Rs. 110 (1100 %) per equity share of face value of Rs. 10, for the financial year ending 31 March 2023.
Infosys collaborates with Bpost (Belgium Post) to improve security for postal services experience.
FII Activity on Tuesday:
Foreign portfolio investors (FPIs) remained net buyers for Rs 1956.98 crore in the Indian markets while Domestic Institutional Investors (DIIs) were net sellers to the tune of Rs 1268.43 crore, provisional data showed on the NSE.
FII Index and Stock F&O:
Image Source – Stockedge
Bulk Deals:
AXISCADES Tech Ltd: Bishwanath Prasad Agrawal sold 2,01,297 equity shares in the company at the weighted average price Rs 165.28 per share on the NSE, the bulk deals data showed.
Euro (I) Fresh Foods Ltd: M/S. Prarthana Enterprises bought 1,30,000 equity shares in the company at the weighted average price Rs 170.07 per share on the NSE, the bulk deals data showed.
Muthoot Cap Serv Ltd: Elevation Capital VI FII Holdings Limited sold 2,32,000 equity shares in the company at the weighted average price Rs 217.27 per share on the NSE, the bulk deals data showed.
Tokyo Plast Intl Ltd: Shah Priyanka Pravin sold 50,500 equity shares in the company at the weighted average price Rs 105.66 per share on the NSE, the bulk deals data showed.
Stocks under F&O ban on NSE
Ambuja Cement, IndiaBulls Housing Finance and Delta Corp are placed under the F&O ban on Wednesday. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.
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