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Zee Business Stock, Trading Guide: The Indian markets ended almost unchanged amid volatility, in continuation of the prevailing corrective phase. The benchmark not only recovered losses in the following days but also managed to hold at higher levels despite weak global sentiment last week.
The benchmark indices, Nifty50 and BSE Sensex, settled at 17,539.4 and 58,803.3 levels respectively. Meanwhile, a mixed trend on the sectoral front and buoyancy in the broader markets kept the participants busy.
“Indian equity markets are outperforming most of their global peers and trying to show resilience despite weak global cues. There is not much on the domestic front to digest therefore the direction of global markets will play an important role in the direction of our market,” said Santosh Meena, Head of Research, Swastika Investmart Ltd.
“Markets have been showing tremendous resilience amid tough global conditions however it would be hard to hold if the situation deteriorates further. We’re eyeing 17,000 as a major support in Nifty while 17,800 would continue to act as a hurdle”, Ajit Mishra, VP – Research, Religare Broking said.
Here is a list of things to watch out for on 05 September 2022
Key support & resistance levels for Nifty50:
The Nifty50 closed 0.02 per cent higher at 17,539.45. Key Pivot points (Fibonacci) support for the index is placed at 17489.25, 17449.75, and 17385.8 while resistance is placed at 17617.15, 17656.65, and 17720.6.
Key support & resistance levels for Nifty Bank:
The Nifty Bank closed 0.30 per cent higher at 39,421. Key Pivot points (Fibonacci) support for the index is placed at 39254.68, 39161.35 and 39010.27 while resistance is placed at 39556.85, 39650.18, and 39801.27.
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
FII Activity on Friday:
Foreign portfolio investors (FPIs) remained net sellers for Rs 8.79 crore in the Indian markets while Domestic Institutional Investors (DIIs) were net sellers to the tune of Rs 668.74 crore, provisional data showed on the NSE.
FII Index and Stock F&O:
Image Source – Stockedge
Bulk Deals:
ACC Limited: Morgan Stanley Asia (Singapore) PTE bought 9,41,557 equity shares in the company at the weighted average price Rs 2290 per share on the NSE, the bulk deals data showed.
Cool Caps Industries Ltd: Dorni Vinimoy Private Limited bought 1,03,500 equity shares in the company at the weighted average price Rs 153.52 per share on the NSE, the bulk deals data showed.
PVR Limited: Societe Generale – ODI bought 3,23,158 equity shares in the company at the weighted average price Rs 1861.42 per share on the NSE, the bulk deals data showed.
TruCap Finance Limited: Abhinav Commosales bought 5,00,000 equity shares in the company at the weighted average price Rs 93.8 per share on the NSE, the bulk deals data showed.
Stocks under F&O ban on NSE
Delta Corp is placed under the F&O ban on Monday. 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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