Zee Business Stock and Trading Guide: The Indian markets extended consolidation for yet another session and gained nearly half a percent.  Indian indices traded lackluster for most of the session however buying in the final hour helped the Nifty to close around the day’s high at 18,117.15 levels. 

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Nifty continues to trade in green and closed above 18100 levels on the weekly time frame with a gain of 1.86 percent. On the daily chart and Nifty maintained its cycle of higher highs – higher lows, construing to have a bullish setup, Apurva Sheth, Head of Market Perspectives, Samco Securities.

Here is a list of things to watch out for on 07 November 2022

What should investors do?

Markets have been maintaining a positive tone amid the consolidation bias, which clearly shows buying interest among the participants. Though all the sectors are contributing to the move, we reiterate our view to stick with the sectors/stocks which are participating in the move instead of laggards. For cues, the performance of global indices and earnings will remain in focus.

Ajit Mishra, VP - Research, Religare Broking Ltd

Key support & resistance levels for Nifty50:

The Nifty50 closed 0.36 per cent higher at 18,117.15. Key Pivot points (Fibonacci) support for the index is placed at 18044.79, 18016.97 and 17971.93, while resistance is placed at 18134.87, 18162.69, and 18207.73.

Key support & resistance levels for Nifty Bank:

The Nifty Bank closed 0.1 per cent lower at 41,258.5. Key Pivot points (Fibonacci) support for the index is placed at 40810.13, 40987.8, and 41097.56, while resistance is placed 41452.9, 41562.66, and 41740.33.

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:

Jyothy Labs: Income Tax Department has conducted a survey at its offices/manufacturing plant. The company says the survey has not impacted the business operations of the Company.

Triveni Engineering approves buyback scheme of Rs 800 crore

Britannia’s volume growth in “mid-single digits” in line with street expectations of 4-5% growth.

Adani Ports Operational Update: Cargo volume during April-Oct at approximately 203 MMT, up 10% YoY and company handled approximately at 25 MMT cargo in October.

IDFC First Bank gets board approval to raise Rs 4,000 crore.

Birlasoft appoints Angan Guha as CEO & Managing Director, effective from December 1, 2022.

Q2 Earnings

Bank of Baroda logged a 59 per cent year-on-year (YoY) jump in net income at Rs 3,313 crore for the September quarter, boosted by improvement in asset quality along with margin expansion.

SBI reported the highest-ever quarterly profit at Rs 13,265 crore, up 74 per cent year-on-year, for the September quarter of FY23, buoyed by robust loan sales, higher interest income and lower provisions.

Power Grid Corporation posted over eight per cent rise in consolidated net profit at Rs 3,650.16 crore in the September quarter of FY23, mainly on the back of higher revenues.

Triveni Engineering & Industries reported a multi-fold jump in its consolidated profit to Rs 1,387.76 crore in Q2.

Britannia Industries reported a 28.47 per cent increase in consolidated net profit at Rs 490.58 crore for the second quarter ended September 30, 2022, helped by volume growth.

Marico Ltd reported a decline of 2.84 per cent in its consolidated net profit to Rs 307 crore for Q2, mainly due to losses on translation of foreign currency receivables and higher effective tax rate.

TVS Motor Company said its consolidated net profit increased by 59 per cent to Rs 373 crore for the second quarter ended September 2022, riding on the back of strong sales across markets.

FII Activity on Friday:

Foreign portfolio investors (FPIs) remained net sellers for Rs 548.59 crore in the Indian markets while Domestic Institutional Investors (DIIs) were net buyers to the tune of Rs 1,436.25 crore, provisional data showed on the NSE.

FII Index and Stock F&O:

Image Source - Stockedge

Bulk Deals:

TRF Limited: Mansi Shares &; Stock Advisors Pvt Ltd sold 70,000 equity shares in the company at the weighted average price Rs 161.97 per share on the NSE, the bulk deals data showed.

Vaishali Pharma Limited: Amaysha Textiles Private Limited sold 65,000 equity shares in the company at the weighted average price Rs 103.75 per share on the NSE, the bulk deals data showed.

Accuracy Shipping Limited: GKPR Tradex Private Limited bought 77,630 equity shares in the company at the weighted average price Rs 219.99 per share on the NSE, the bulk deals data showed.

Ameya Precision Eng Ltd: Jagrutiben Jayantilal Vyas sold 64,000 equity shares in the company at the weighted average price Rs 61.65 per share on the NSE, the bulk deals data showed.

Stocks under F&O ban on NSE

LIC Housing Finance is 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.