Zee Business Stock and Trading Guide: The Indian markets traded dull and ended marginally lower, snapping four-day gaining streak. After the flat start, profit taking pushed the frontline indices gradually lower however marginal rebound in the final hours trimmed losses. 

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The Nifty index settled at 18,075; down by 0.38 per cent and BSE Sensex also below 61000-mark, down 0.35 per cent. Most sectoral indices traded in tandem with the benchmark and ended with a marginal cut. Meanwhile, movement on the stock-specific front kept participants busy till the end.

Here is a list of things to watch out for on 03 November 2022

What should investors do?

Domestic markets will react to the outcome of the US Fed meet in early trades on Thursday and then the focus would shift to the Reserve Bank of India’s MPC special meet. The outcome of these events could trigger some volatility, but the market tone is likely to remain positive. We thus recommend focusing more on accumulating quality stocks on dips.

- Ajit Mishra, VP - Research, Religare Broking

Key support & resistance levels for Nifty50:

The Nifty50 closed 0.34 per cent lower at 18,083.55. Key Pivot points (Fibonacci) support for the index is placed at 18053.73, 18023.03 and 17973.33, while resistance is placed at 18153.13, 18183.84, and 18233.54.

Key support & resistance levels for Nifty Bank:

The Nifty Bank closed 0.36 per cent lower at 41,141.9. Key Pivot points (Fibonacci) support for the index is placed at 41068.99, 40971.31, and 40813.2, while resistance is placed 41385.21, 41482.89, and 41641.

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:

Piramal Enterprises board meeting on Nov 7 to consider issuance of NCDs.

Sailesh Bhan appointed CIO - Equity at Nippon India Mutual Fund effective January 1, 2023.

Triveni Turbine board approves buyback of shares via tender offer; it will spend up to Rs 190 cr on share buyback at Rs 350/share.

Q2 Earnings

Mahindra & Mahindra Financial Services Q2: Net profit slipped over 55 per cent at Rs 492 crore Year-on-Year (YoY); Total income increased 3 per cent to Rs 3,029 crore YoY.

Relaxo Footwears Ltd Q2: Net Profit declined by 67.38 per cent in at Rs 22.40 crore; revenue from operations was down 6.26 per cent to Rs 669.65 crore YoY.

Dalmia Bharat Ltd: Consolidated net profit dipped by 76.84 per cent at Rs 47 crore and revenue from operations increased 15.11 per cent to Rs 2,971 crore YoY.

FII Activity on Wednesday:

Foreign portfolio investors (FPIs) remained net buyers for Rs 1,436.30 crore in the Indian markets while Domestic Institutional Investors (DIIs) were net sellers to the tune of Rs 1,378.12 crore, provisional data showed on the NSE.

FII Index and Stock F&O:

Image Source - Stockedge

Bulk Deals:

Richa Info Systems Ltd: Aditya Enterprise sold 18,000 equity shares in the company at the weighted average price Rs 99.75 per share on the NSE, the bulk deals data showed.

Shrem Invit: Trust Capital Serv sold 84,00,000 equity shares in the company at the weighted average price Rs 104 per share on the NSE, the bulk deals data showed.

Veto Switchgear Cable Ltd: Lodha Bhupesh Kumar bought 1,05,000 equity shares in the company at the weighted average price Rs 118.39 per share on the NSE, the bulk deals data showed.

Geekay Wires Limited: PRATYUSH MITTAL sold 54,232 equity shares in the company at the weighted average price Rs 69.25 per share on the NSE, the bulk deals data showed.

Stocks under F&O ban on NSE

LIC 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.