Zee Business Stock, Trading Guide: 10 things to know before market opens on 01 December 2022

Zee Business, Stock Guide, Trading Guide, Bulk Deals, Stocks in news, corporate action, market on December 1: The Indian equity markets managed to inch higher and gained nearly a percent, in continuation of the prevailing trend.

The Nifty index oscillated in a narrow band for most of the session however a sharp surge in the index majors in the last half an hour helped the index to surpass the hurdle at 18,700 and close around the day’s high at 18,758.35 levels. Even Sensex breached 63,000 level for the first time.

Meanwhile, a mixed trend on the sectoral front kept the participants busy wherein metal, realty, and auto traded upbeat while banking and IT consolidated further. The broader indices too participated in the move and gained in the range of 0.7-1.3 per cent on Wednesday.

The rotational buying across sectors is fuelling the recent surge while the global markets are not offering any clear signal, Ajit Mishra, VP - Technical Research, Religare Broking Ltd said.

“We’re now eyeing a new milestone of the 19,000 mark in Nifty. Participants should keep a close watch on themes/sectors which are gaining traction and place their bets accordingly,” Mishra said.

Here is a list of things to watch out for on 30 November 2022

Technical View

The concern is that the market is overbought, which may lead to some pullback or consolidation at higher levels, but there are no major signs of weakness. Technically, Nifty has immediate targets of 18888 and 19000, while on the downside, 18700 and 18500 will act as strong support levels.

Santosh Meena, Head of Research, Swastika Investmart Ltd.

Key support & resistance levels for Nifty50:

The Nifty50 closed 0.30 per cent higher at 18,618. Key Pivot points (Fibonacci) support for the index is placed at 18654.12, 18607.04 and 18530.83 while resistance is placed at 18806.54, 18853.62, and 18929.83.

Key support & resistance levels for Nifty Bank:

The Nifty Bank closed 0.08 per cent higher at 43,053. Key Pivot points (Fibonacci) support for the index is placed at 42975.06, 42868.34, and 42695.6, while resistance is placed 43320.54, 43427.26, and 43600.0.

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:

MOIL cuts prices of fines, chemicals by 5 per cent from tomorrow.

Britannia appoints Abhishek Sinha as CEO of Britannia Bel Foods. Abhishek Sinha was serving as Chief Business Officer (CBO) of company’s dairy business

Grasim says the Income Tax Appellate Tribunal has held that the demerger of Financial Services Business was a qualifying demerger and that Provisions of deemed dividend are not applicable.

Bandhan Bank hikes lending rates on most tenures by 10-48 bps effective today, November 30.

KPI Green Energy board approves 1-for-1 bonus share issue.

PNB to hike lending rates by 5 bps across tenures from December 1.

Apollo Hospitals board approves raising up to Rs 105 cr via NCDs.

TCS gets Rail Delivery Group’s project to help create the UK Government’s Rail data marketplace.

FII Activity on Wednesday:

Foreign portfolio investors (FPIs) remained net buyers for Rs 9010.41 crore in the Indian markets while Domestic Institutional Investors (DIIs) were net sellers to the tune of Rs 4056.4 crore, provisional data showed on the NSE.

FII Index and Stock F&O:

Image Source - Stockedge

Bulk Deals:

Bajaj Holdings: Integrated Core Strategies (Asia) PTE. LTD. bought 5,83,876 equity shares in the company at the weighted average price Rs 6266.25 per share on the NSE, the bulk deals data showed.

Varanium Cloud Limited: Chandrakant Vallabhji Gogri bought 54,000 equity shares in the company at the weighted average price Rs 588.54 per share on the NSE, the bulk deals data showed.

Likhitha Infrastruc Ltd: Ashish Kacholia bought 3,97,000 equity shares in the company at the weighted average price Rs 184.93 per share on the NSE, the bulk deals data showed.

Indian Hotels Co. Ltd: Government Of Singapore Invt Corpn Pte Ltd A/c Account bought 94,74,188 equity shares in the company at the weighted average price Rs 321.77 per share on the NSE, the bulk deals data showed.

Stocks under F&O ban on NSE

BHEL, Delta Corp, IndiaBulls Housing Finance and PNB are 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.