Zee Business Stock, Trading Guide: The Indian markets extended gains for yet another session and rose over half a percent. After the initial gap-up start, Nifty oscillated in a range and finally settled closer to the day’s high to close at 18,145.40 levels.

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

Most sectors contributed to the up move where IT, metal and pharma were among the top gainers. The market breadth was inclined slightly on the advancing side, due to the underperformance of the smallcap pack.

Nifty has reclaimed the 18,100+ zone almost after seven months and it is likely to continue this tone however we can’t ignore the possibility of an intermediate pause or dip, Ajit Mishra, VP - Research, Religare Broking Ltd said in his post market comment.

Besides, the upcoming events viz. the outcome of the US Fed meet and MPC’s special meet will keep the volatility high, the market analyst said. “Participants should maintain the “buy on dips” approach and stick with the sectors which are participating in the move.”

Here is a list of things to watch out for on 02 November 2022

Key support & resistance levels for Nifty50:

The Nifty50 closed 0.74 per cent higher at 18,145.4. Key Pivot points (Fibonacci) support for the index is placed at 18082.97, 18055.69, and 18011.53, while resistance is placed at 18171.29, 18198.57, and 18242.73.

Key support & resistance levels for Nifty Bank:

The Nifty Bank closed 0.04 per cent lower at 41,289.55. Key Pivot points (Fibonacci) support for the index is placed at 41198.49, 41083.18 and 40896.54, while resistance is placed at 41571.78, 41687.09, and 41873.73.

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:

Oil Companies in Focus: WindfallTax revised with effect from November 2, 2022.

Edible Oil Companies in Focus: Wholesalers and big chain retailers are exempted from stock limit orders with immediate effect.

Indian Bank to hike lending rate by 15-35 bps across tenures from November 3

Grasim Ind board approves raising up to Rs 1,000 cr through NCDs

ICICI Bank today executed first secondary market transaction in G-Sec using CBDC

Q2 Earnings

Karnataka Bank Q2: Net profit at Rs 411.6 cr vs Rs 125.6 cr (YoY) and NII up 26% at Rs 802.7 cr Vs Rs 637 cr (YoY)

Voltas Q2: Operational performance declines on a YoY basis

JK Tyre reports Q2 earnings: Net profit down 22.9% at Rs 51.3 cr Vs Rs 66.6 cr (YoY) and Revenue up 25.8% at Rs 3,756.5 cr Vs Rs 2,986.7 cr (YoY)

Chambal Fert Q2 earnings: Net profit down 45.8% at Rs 274.3 cr Vs Rs 505.9 cr (YoY) and Revenue up 91.7% at Rs 8,586.8 cr Vs Rs 4,478.6 cr (YoY)

FII Activity on Tuesday:

Foreign portfolio investors (FPIs) remained net buyers for Rs 2,609.94 crore in the Indian markets while Domestic Institutional Investors (DIIs) were net sellers to the tune of Rs 730.14 crore, provisional data showed on the NSE.

FII Index and Stock F&O:

Image Source - Stockedge

Bulk Deals:

Maks Energy Sol India Ltd: Vinod Somani HUF bought 36,000 equity shares in the company at the weighted average price Rs 43 per share on the NSE, the bulk deals data showed.

Nandani Creation Limited: Bharat Mantri bought 62,500 equity shares in the company at the weighted average price Rs 78 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 Wednesday. 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.