Zee Business Stock, Trading Guide: 10 things to know before market opens on 24 November 2022

Zee Business, Stock Guide, Trading Guide, Bulk Deals, Stocks in news, Corporate action, market on November 24: The Indian markets ended almost unchanged amid volatility, in continuation to the prevailing consolidation phase. The benchmark indices closed marginally higher, up around 1.5 per cent on Wednesday.

The Nifty index opened with an uptick, but it couldn’t hold the gains for long and oscillated in a range thereafter. It finally settled at 18,267.25. Meanwhile, mixed performance from the sectoral front kept the participants busy till the end.

Here is a list of things to watch out for on 24 November 2022

What should investors do?

Domestic markets have been maintaining a positive tone amid the consolidation bias, thanks to rotational buying in index majors, especially from the banking pack. However, subdued participation from the broader front is still weighing on sentiment.

Considering the scenario, we feel it’s prudent to limit positions and focus on sectors/stocks which are showing higher relative strength. Also, maintain strict risk management rules in place citing the possibility of a rise in volatility due to scheduled F&O expiry.

- Ajit Mishra, VP - Research, Religare Broking Ltd

Key support & resistance levels for Nifty50:

The Nifty50 closed 0.13 per cent higher at 18,267. Key Pivot points (Fibonacci) support for the index is placed at 18249.2, 18230.46 and 18200.13, while resistance is placed at 18309.86, 18328.6, and 18358.93.

Key support & resistance levels for Nifty Bank:

The Nifty Bank closed 0.64 per cent higher at 42,729. Key Pivot points (Fibonacci) support for the index is placed at 42599.16, 42527.37, and 42411.16, while resistance is placed 42831.57, 42903.36, and 43019.57.

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:

Biocon issues Commercial Papers (CP) of Rs. 2,250 Crores on private placement basis.

Atul Ranchal resigns as Chairman & Executive Director of Brooks Labs.

SBI Card: Chief Risk Officer Aparna Kuppuswamy resigns.

PVR: NCLT to take final call for Inox Leisure merger on December 15.

Zee Ent says OFI & Invesco's petition against Co is no longer pending before NCLT.

Corporate Action

Bharat Forge: Ex-date interim dividend 75% at Rs 1.5 per share

Cupid: Ex-date interim dividend 20% at Rs 2 per share

Diamines & Chemicals: Ex-date interim dividend 30% at Rs 3 per share

Polyplex Corporation: Ex-date interim dividend 550% at Rs 55 per share

Power Finance Corporation: Ex-date interim dividend 30% at Rs 3 per share

FII Activity on Wednesday:

Foreign portfolio investors (FPIs) remained net sellers for Rs 789.86 crore in the Indian markets while Domestic Institutional Investors (DIIs) were net buyers to the tune of Rs 413.75 crore, provisional data showed on the NSE.

FII Index and Stock F&O:

Image Source - Stockedge

Bulk Deals:

Amiable Logistics (I) Ltd: Prakashbhai Mahendrabhai Dave sold 12,800 equity shares in the company at the weighted average price Rs 127.46 per share on the NSE, the bulk deals data showed.

Fino Payments Bank Ltd: Capri Global Holdings Private Limited bought 13,19,853 equity shares in the company at the weighted average price Rs 228.77 per share on the NSE, the bulk deals data showed.

Inox Green Energy Ser Ltd: Nomura Singapore Limited sold 14,60,728 equity shares in the company at the weighted average price Rs 60.35 per share on the NSE, the bulk deals data showed.

Voltamp Transformers: Nippon India Mutual Fund bought 3,00,000 equity shares in the company at the weighted average price Rs 2650 per share on the NSE, the bulk deals data showed.

Stocks under F&O ban on NSE

PNB is placed under the F&O ban for 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.