Traders Guide: 10 things to know before stock market opens on Tuesday, January 10 – Here's what analysts expect

Traders Guide: Markets started the week with an uptick and gained nearly one and a half percent, tracking upbeat global cues. The NSE Nifty and BSE Sensex indices maintained a positive tone for most of the session and settled at 18,101.20 and 60,747.31 levels, respectively.

The surprise recovery in the IT majors, ahead of the TCS numbers, contributed significantly to the rebound. Besides, a surge in energy, metal, auto, and banking majors further added to the positivity. The broader indices too ended higher and gained in the range of 0.5-1 per cent.

Here is a list of things to watch out for on 10 January 2022

What Should Investors Do?

Markets will react to the TCS numbers in the early trade. Besides, the performance of the global indices will also be in focus. On the index front, a decisive close above 18260 levels in Nifty may result in further recovery else the decline would resume.

Meanwhile, we recommend continuing with a stock-specific trading approach with a focus on risk management.

Ajit Mishra, VP - Technical Research, Religare Broking Ltd.

Technical Outlook

After three consecutive days of selling, the Headline Index Nifty started the first day of the week with a strong gap up opening of more than 100 points and continued to trade in bullish zone with some minor pull backs.

The Benchmark Index, on the daily chart, has formed ‘Above the Stomach ‘candle stick pattern. This candlestick pattern comes from the bullish family, where the first candle is a bearish candle but the second one is a bullish candle, which opens midway of the first candle but closes higher above it.

Now, Nifty has to be above 18,000 – 18,050 zones for an up move, towards 18,250 and 18,300 zones, whereas support is placed at 17,800 zones.

- Rohan Patil, Technical Analyst, Samco Securities

Key support & resistance levels for Nifty50:

The Nifty50 closed 1.35 per cent higher at 18,101.20. Key Pivot points (Fibonacci) support for the index is placed at 17981.21, 17932.79, and 17854.4, while resistance is placed at 18137.99, 18186.41, and 18264.8.

Key support & resistance levels for Nifty Bank:

The Nifty Bank closed 0.93 per cent higher at 42,582.75. Key Pivot points (Fibonacci) support for the index is placed at 42292.87, 42167.74, and 41965.2, while resistance is placed at 42697.94, 42823.07, and 43025.6.

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

Tata Motors JLR sales for Q3: Wholesales in the quarter rose by 5.7% QoQ; Record order book of over 2.15 lakh units, particularly for New Range Rover.

Indian Overseas Bank to hike lending rates by 5 bps across tenures effective January 10.

TCS Q3 PAT at Rs 10,883 crore; dollar revenue at $ 7,075 million and rupee revenue at Rs 58,229 cr, while constant currency revenue growth at 2.2%.

TCS announces total Dividend of Rs 75 per share, special dividend of Rs 67 per share and interim dividend of Rs 8 per share.

IRB Infrastructure: December total toll collection up 6% at Rs 388 cr against Rs 365.9 cr MoM.

Lupin gets approval from Spanish Government for reimbursement of Namuscla (Mexiletine), which is used for the symptomatic treatment of Myotonia.

FII Activity on Monday:

Foreign portfolio investors (FPIs) remained net sellers for Rs 203.13 crore in the Indian markets while Domestic Institutional Investors (DIIs) were net buyers to the tune of Rs 1723.79 crore, provisional data showed on the NSE.

FII Index and Stock F&O:

Image Source – Stockedge

Bulk Deals:

Zensar Technologies -Depo: Scoutbit General Trading LLC sold 14,00,000 equity shares in the company at the weighted average price Rs 208.34 per share on the NSE, the bulk deals data showed.

Vinny Overseas Limited: Europlus One Reality PVT LTD bought 51,021 equity shares in the company at the weighted average price Rs 178.04 per share on the NSE, the bulk deals data showed.

Geekay Wires Limited: KIFS Enterprise bought 65,942 equity shares in the company at the weighted average price Rs 87.8 per share on the NSE, the bulk deals data showed.

M P Today Media Limited: Anant Aggarwal bought 30,000 equity shares in the company at the weighted average price Rs 58.44 per share on the NSE, the bulk deals data showed.

Stocks under F&O ban on NSE

Indiabulls Housing Finance and GNFC are placed under the F&O ban for Tuesday. 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.