Zee Business Stock, Trading Guide: 10 things to know before market opens on 20 December 2022

Zee Business Stock, Trading Guide: The Indian markets started the week on a firm note and gained nearly a percent, taking a breather after the recent slide, following massive buying in Auto, bank, financial, oil and FMCG stocks on Monday

After the flat opening, Nifty and Sensex gradually inched higher, thanks to a recovery in select index majors from across sectors and finally settled at 18.420.45 and 61,806.19 levels. Among the sectoral pack, auto, metal and FMCG posted decent gains while IT and pharma continue to trade subdued.

Here is a list of things to watch out for on 20 December 2022

What should investors do?

We’ve been seeing this trend that select heavyweights come to rescue the index during the corrective phase and it’s no different this time. A decisive close above 18,500 in Nifty could further fuel the rebound else profit taking may resume.

We recommend staying selective and preferring the top performers from the participating sectors. Besides, keep a check on overnight leveraged trades as volatility may continue.

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

Key support & resistance levels for Nifty50:

The Nifty50 closed 0.8 per cent higher at 18,420. Key Pivot points (Fibonacci) support for the index is placed at 18294.09, 18249.94, and 18178.46, while resistance is placed at 18437.04, 18481.19, and 18552.66.

Key support & resistance levels for Nifty Bank:

The Nifty Bank closed 0.45 per cent higher at 43,413. Key Pivot points (Fibonacci) support for the index is placed at 43194.87, 43114.37, and 42984.07, while resistance is placed at 43455.47, 43535.97, and 43666.27.

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

Stocks in News

Dhanuka Agritech share buyback to open on Dec 26

Aviation Stocks: Domestic air passenger traffic in November 2022 up 11.06% at 1.16 cr vs 1.05 cr (YoY). Domestic air passenger traffic from Jan to Nov 2022 up 52.19% at 11.05 cr vs 7.26 cr (YoY).

NBCC India bags construction order worth Rs 69.3 cr from Odisha Power Transmission Corporation

HDFC revises its retail prime lending rates by 35 bps from Dec 20.

Sterling & Wilson promoters to sell up to 5.27% stake in the company via OFS

Business News

Engineers body seeks routing of domestic foreign currency USD deals via RBI

Google building AI model to support over 100 Indian languages: Sundar Pichai

India sees almost two-fold jump in oilmeals export in Apr-Nov: SEA

KFin Technologies IPO: 55% subscribed on Day 1

Radiant Cash Management Services IPO to open on December 23

Coal Ministry extends bid due date till 13th January 2023 for ongoing commercial coalmine auction

FII Activity on Monday:

Foreign portfolio investors (FPIs) remained net sellers for Rs 538.1 crore in the Indian markets while Domestic Institutional Investors (DIIs) were net buyers to the tune of Rs 687.38 crore, provisional data showed on the NSE.

FII Index and Stock F&O:

Image Source - Stockedge

Bulk Deals:

Deccan Cements Limited: Bangar Raju Manthena bought 2,47,000 equity shares in the company at the weighted average price Rs 515.2 per share on the NSE, the bulk deals data showed.

Ponni Sugars (Erode): Lok Prakashan Ltd sold 47,000 equity shares in the company at the weighted average price Rs 436.36 per share on the NSE, the bulk deals data showed.

SP Refractories Limited: Escorp Asset Management Limited bought 20,800 equity shares in the company at the weighted average price Rs 84.25 per share on the NSE, the bulk deals data showed.

Arham Technologies Ltd: Spring Ventures sold 60,000 equity shares in the company at the weighted average price Rs 69.45 per share on the NSE, the bulk deals data showed.

Stocks under F&O ban on NSE

Balrampur Chini, BHEL, Delta Corp, Indiabulls Housing Finance, IRCTC, PNB 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.