Zee Business Stock, Trading Guide: 10 things to know before market opens on 19 December 2022

Zee Business Stock, Trading Guide: The Indian markets drifted lower and lost over half a percent, in continuation of Thursday’s fall. After the initial downtick, the Nifty and Sensex hovered in a range but selling pressure resumed in the latter half which pushed indices below 18,300 & 61,500 levels. 

The decline was widespread as all the sectors ended lower wherein realty, pharma and IT were among the top losers. The broader indices too shed in the range of 0.6-1.5 per cent.

Here is a list of things to watch out for on 19 December 2022

What should investors do?

Weak global cues are weighing on the sentiment and indications are in the favour of further decline. Nifty has breached crucial support at 18,300 and now the next support comes at the 18,000 zone. In absence of any major event, global cues will continue to dictate the trend. While, traders should align their positions as per the market trend and avoid making aggressive bets.

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

Technical Outlook

Technically, Nifty has formed lower top lower bottom on the daily chart, which is a bearish sign for the short term. Index on the daily chart has closed below its 9 & 21 – day exponential moving average and RSI on the other hand has drifted below 50 levels with bearish crossover.

On the technical ground, the support for the Index is placed near 18100 and any move below the same will extend the fall till 17900 levels. Similarly on the higher side 18500 will be the immediate resistance and followed by 18650 levels.

- By Apurva Sheth, Head of Market Perspectives, Samco Securities.

Key support & resistance levels for Nifty50:

The Nifty50 closed 0.8 per cent lower at 18,269. Key Pivot points (Fibonacci) support for the index is placed at 18250.76, 18206.94 and 18136, while resistance is placed at 18392.64, 18436.46 and 18507.4.

Key support & resistance levels for Nifty Bank:

The Nifty Bank closed 0.64 per cent lower at 43,219. Key Pivot points (Fibonacci) support for the index is placed at 43101.71, 42979.56, and 42781.84, while resistance is placed at 43497.16, 43619.31, and 43817.03.

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

GMR Airports gets Rs 1,389.90 crore by selling its shares in GMCAC to Aboitiz InfraCapital Inc

Sun Pharma gets US FDA warning letter for Halol facility.

Shilpa Medicare launches Capecitabine 1000 MG dispersible tablet

Bengaluru Metropolitan Transport Corporation signs agreement with Tata Motors’ arm, TML Smart City Mobility Solutions, for operating 921 electric buses in Bengaluru.

Phoenix Mills acquires 7.22 acre of land  parcel in Surat, Gujarat, to develop premium retail destination for Rs 510 cr.

Biological E gets Drugs Controller General of India (DCGI) approval for 14-valent Pneumococcal conjugate vaccine.

Tech Mahindra approves sale of 100% stake in Dynacommerce Holdings B.V. for €6.6 m

Dilip Buildcon receives Letter of Acceptance (LoA) for Rs 1,647 cr NHAI order.

FII Activity on Friday:

Foreign portfolio investors (FPIs) remained net sellers for Rs 1975.44 crore in the Indian markets while Domestic Institutional Investors (DIIs) were net buyers to the tune of Rs 1542.5 crore, provisional data showed on the NSE.

FII Index and Stock F&O:

Image Source - Stockedge

Bulk Deals:

Anzen Ind Ene Yld Plu Tru: Axis Bank Ltd sold 10,00,000 equity shares in the company at the weighted average price Rs 101.2 per share on the NSE, the bulk deals data showed.

New Delhi Television: Lts Investment Fund Ltd sold 3,28,888 equity shares in the company at the weighted average price Rs 366.65 per share on the NSE, the bulk deals data showed.

GMM Pfaudler Limited: Indus Capital Advisors (Uk) Llp A/C Indus India Fund (Mauritius) Limited bought 3,08,127 equity shares in the company at the weighted average price Rs 1690.96 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 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.