Zee Business Stock, Trading Guide: The Indian markets took a breather after making a new record high and shed over a percent this week. The benchmarks gradually inched lower amid mixed global cues however selling pressure in the IT majors put further pressure in the final session.
Consequently, the benchmark indices, Sensex and Nifty, settled at 62,181.67 and 18,496.60 levels. Most sectors traded in tandem with the benchmark and edged lower however buoyancy in the banking and FMCG majors capped the damage.
The broader indices such as Nifty mid and small-cap also witnessed profit-taking and lost in the range of 0.5-1 per cent on Friday.
Here is a list of things to watch out for on 12 December 2022
Technical View
Domestic markets are taking a breather after a sharp rally crossing the previous all-time highs last week. The benchmark Nifty could face stiff resistance around the 18,600 mark as there is massive call writing around these strikes in the weekly expiry.
On the lower side, 18,300 and 18,000 will act as good support for the markets.
– Apurva Sheth, Head of Market Perspectives, Samco Securities
Key support & resistance levels for Nifty50:
The Nifty50 closed 0.61 per cent lower at 18,496.6. Key Pivot points (Fibonacci) support for the index is placed at 18426.54, 18366.46 and 18269.2 while resistance is placed at 18621.06, 18681.14, and 18778.4.
Key support & resistance levels for Nifty Bank:
The Nifty Bank closed 0.08 per cent lower at 43,633.45. Key Pivot points (Fibonacci) support for the index is placed at 43428.33, 43312.29, and 43124.46, while resistance is placed at 43803.99, 43920.03, and 44107.86.
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
Business News
Major oil pipeline outage to hit US stockpiles, refinery supplies
Putin says Russia could cut oil production over the West’s ‘stupid’ price cap.
IPO-bound Go First announces 42 new direct flights to new Goa international airport
DIPAM Secy says government has received about Rs 100 crore from CONCOR as dividend tranche
Forex Data: Total reserves in week-ended December 2 up $11.02 bn at $561.16 bn, foreign currency assets in the same week are up $9.69 bn at $496.98 bn
Stocks in News:
Vodafone Idea & ATC have mutually extended the last date for the subscription of the OCDs to February 28, 2023. Vodafone Idea was in talks with ATC for extending OCD issuance of Rs 1,600 cr.
Zydus Life gets final US FDA nod for two drugs, Silodosin Capsules & Pregabalin Capsules
Dr Reddy’s gets US FDA nod for Bendamustine Hydrochloride
Metal stocks in focus: Government to give PLI for Specialty Steel. Selects 67 applications under Specialty Steel PLI scheme
Bank of Baroda hikes lending rates by 25-30 bps across tenures effective December 12
Emami increases stake in Brillare Science to 80.59% from 77.53%
PSP Projects bags civil construction order worth Rs 121.51 cr from Nila Spaces
Kalpataru Power raises Rs 99 cr via NCDs on private placement basis
IDFC: NCLT Chennai approves merger of IDFC Alternatives, IDFC Trustee, IDFC Projects with IDFC
FII Activity on Friday:
Foreign portfolio investors (FPIs) remained net sellers for Rs 158.01 crore in the Indian markets while Domestic Institutional Investors (DIIs) were net sellers to the tune of Rs 501.63 crore, provisional data showed on the NSE.
FII Index and Stock F&O:
Image Source – Stockedge
Bulk Deals:
AKG Exim Limited: Kapil Aggarwal Fund bought 56,835 equity shares in the company at the weighted average price Rs 74.48 per share on the NSE, the bulk deals data showed.
Vaishali Pharma Limited: Amaysha Textiles Private Limited bought 2,00,000 equity shares in the company at the weighted average price Rs 143.49 per share on the NSE, the bulk deals data showed.
Shankara Bldg Product Ltd: Deepak Kumar bought 1,47,500 equity shares in the company at the weighted average price Rs 729.03 per share on the NSE, the bulk deals data showed.
Kamat Hotels (I) Ltd: L7 Hitech Private Limited bought 1,83,956 equity shares in the company at the weighted average price Rs 98.62 per share on the NSE, the bulk deals data showed.
Stocks under F&O ban on NSE
BHEL, Delta Corp, GNFC, and PNB are placed under the F&O ban for 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.
