Zee Business Stock, Trading Guide: Indian markets on Wednesday ended marginally lower in a volatile trading session amid mixed cues. The benchmark indices opened with a down gap, tracking feeble global cues however buying in the select index majors helped indices to pare losses as the day progressed.
The Nifty index closed at 17,624; down by nearly 0.2 per cent, while Sensex settled at 59,029, down nearly 0.3 per cent. Most of the sectoral indices traded in line with the index however buoyancy on the broader front kept the investors busy.
Markets maintaining a positive tone amid consolidation while the global indices are reeling under pressure, and feel this scenario may continue, Ajit Mishra, VP – Research, Religare Broking Ltd said, suggesting participants should focus more on buying opportunities till the Nifty holds 17400 levels.
With foreign investors coming to Indian markets, Sunil Damania, Chief Investment Officer, MarketsMojo believe FIIs will invest way more than they sold in the first half of the calendar year.
India is among the fastest-growing economies in the world, with inflation moving down – a rare combination in the present world-economic scenario Damania said, adding that no fund manager can afford to ignore this rare combination if they wish to generate alpha on their portfolio.
Here is a list of things to watch out for on 08 September 2022
Key support & resistance levels for Nifty50:
The Nifty50 closed 0.18 per cent lower at 17,624.40. Key Pivot points (Fibonacci) support for the index is placed at 17522.9, 17483.6, and 17420 while resistance is placed at 17650.1, 17689.4, and 17753.0.
Key support & resistance levels for Nifty Bank:
The Nifty Bank closed 0.53 per cent lower at 39,455.90. Key Pivot points (Fibonacci) support for the index is placed at 39308.82, 39234.74 and 39114.83 while resistance is placed at 39548.64, 39622.72, and 39742.63.
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 Wednesday:
Foreign portfolio investors (FPIs) remained net buyers for Rs 758.37 crore in the Indian markets while Domestic Institutional Investors (DIIs) were net sellers to the tune of Rs 138.67 crore, provisional data showed on the NSE.
FII Index and Stock F&O:
Image Source – Stockedge
Bharti Airtel Limited: Bharti Telecom Limited bought 9,62,34,427 equity shares in the company at the weighted average price Rs 686.2 per share on the NSE, the bulk deals data showed.
Hisar Metal Ind. Limited: Opelina Sustainable Services Private Limited bought 35,498 equity shares in the company at the weighted average price Rs 146.94 per share on the NSE, the bulk deals data showed.
Vertoz Advertising Ltd
Vertoz Advertising Ltd: Shree Bahubali Stock Broking Ltd bought 65,047 equity shares in the company at the weighted average price Rs 118.36 per share on the NSE, the bulk deals data showed.
Kohinoor Foods Limited: Yogesh Kumar Sharma sold 2,84,446 equity shares in the company at the weighted average price Rs 73.94 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 Thursday. 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.